TIDMDLG
RNS Number : 2095I
Direct Line Insurance Group PLC
31 March 2020
DIRECT LINE INSURANCE GROUP PLC ("DLG")
TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL
RESPONSIBILITY ("PDMRS")
31 MARCH 2020
In accordance with DLG's remuneration policy, awards under the
DLG 2012 Long Term Incentive Plan (the "LTIP") and the DLG Deferred
Annual Incentive Plan (the "DAIP") have been granted to PDMRs over
ordinary shares of 10(10) /(11) pence each in DLG. The number of
shares awarded under the DAIP and the LTIP is based on the average
closing share price over the three trading days prior to the date
of grant, equal to GBP2.62.
While the Remuneration Committee (the "Committee") recognises
that the LTIP award has been made during a period of market
turbulence due to COVID-19, we believe that this is not specific to
DLG and the Committee has determined that the price used to
calculate the number of shares awarded is appropriate.
The Committee is mindful that, as the Group typically grants
half the annual LTIP award in each of two separate grants in each
financial year (following the announcement of the Group's annual
and half-year results), there will be a further opportunity to
review the appropriateness of the approach taken in the context of
further developments later in the year, as well as later during the
relevant performance period, to avoid any unacceptable 'windfall'
gains. This March grant represents the first half of the 2020
awards, with a second grant scheduled for August/September
2020.
For further information on DLG's remuneration policy please see
our Directors' Remuneration Report which is available at:
www.directlinegroup.co.uk
The following disclosures are made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Penny James
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Chief Executive Officer/PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11) pence
financial instrument, ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (i) Award of five years nil cost options
under the Direct Line Insurance Group
plc 2012 Long Term Incentive Plan;
and
(ii) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 305,344
--------
(ii) Nil cost options 153,397
--------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 458,741
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Tim Harris
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Chief Financial Officer/PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (i) Award of five years nil cost
options under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan; and
(ii) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 204,198
--------
(ii) Nil cost options 27,158
--------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 231,356
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Mark Evans
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Managing Director of Marketing &
Digital/ PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (i) Award of three years nil cost
options under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan; and
(ii) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 78,721
-------
(ii) Nil cost options 41,958
-------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 120,679
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jonathan Greenwood
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Managing Director, Commercial/PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (i) Award of three years nil cost
options under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan; and
(ii) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 115,507
--------
(ii) Nil cost options 73,518
--------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 189,025
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Simon Linares
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Human Resources Officer / PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (i) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 74,519
-------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 74,519
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Steve Maddock
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Chief Operating Officer / PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (i) Award of three years nil cost
options under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan; and
(ii) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 145,509
--------
(ii) Nil cost options 92,613
--------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 238,122
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Neil Manser
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Chief Strategy Officer/ PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (i) Award of three years nil cost
options under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan; and
(ii) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 78,721
-------
(ii) Nil cost options 42,381
-------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 121,102
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Gus Park
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Managing Director of Motor, Pricing
& Underwriting/ PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (i) Award of three years nil cost
options under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan; and
(ii) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 89,456
-------
(ii) Nil cost options 48,882
-------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 138,338
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Kate Syred
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status Managing Director of Household, Partnerships
& Data/ PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (i) Award of three years nil cost
options under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan; and
(ii) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 78,721
-------
(ii) Nil cost options 42,482
-------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 121,203
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Humphrey Tomlinson
-------------------------- ----------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------
a) Position/status General Counsel / PDMR
-------------------------- ----------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------
b) Nature of the transaction (iii) Award of three years nil cost
options under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan; and
(iv) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 68,549
-------
(ii) Nil cost options 36,358
-------
-------------------------- ----------------------------------------------
d) Aggregated information
- Aggregated volume 104,907
- Price N/A
-------------------------- ----------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jose Vazquez
-------------------------- ----------------------------------------------------------
2 Reason for the notification
--------------------------------------------------------------------------------------
a) Position/status Chief Risk Officer / PDMR
-------------------------- ----------------------------------------------------------
b) Initial notification Initial Notification
/Amendment
-------------------------- ----------------------------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
--------------------------------------------------------------------------------------
a) Name Direct Line Insurance Group plc
-------------------------- ----------------------------------------------------------
b) LEI 213800FF2R23ALJQOP04
-------------------------- ----------------------------------------------------------
4 Details of the transaction(s): section to be repeated
for (i) each type of instrument; (ii) each type of transaction;
(iii) each date; and (iv) each place where transactions
have been conducted
--------------------------------------------------------------------------------------
a) Description of the Ordinary shares of 10 (10) /(11)
financial instrument, pence ("Shares")
type of instrument
Identification code
GB00BY9D0Y18
-------------------------- ----------------------------------------------------------
b) Nature of the transaction (v) Award of three years nil cost
options under the Direct Line Insurance
Group plc 2012 Long Term Incentive
Plan; and
(vi) Award of three years nil cost
options under the Direct Line Insurance
Group plc Deferred Annual Incentive
Plan.
-------------------------- ----------------------------------------------------------
c) Price(s) and volume(s) Price Volume
(i) Nil cost options 124,029
--------
(ii) Nil cost options 76,968
--------
-------------------------- ----------------------------------------------------------
d) Aggregated information
- Aggregated volume 200,997
- Price N/A
-------------------------- ----------------------------------------------------------
e) Date of the transaction 27 March 2020
-------------------------- ----------------------------------------------------------
f) Place of the transaction Off market
-------------------------- ----------------------------------------------------------
For any enquiries relating to this announcement, please
contact:
Roger Clifton
Company Secretary
Telephone: +44 (0)1651 831 956
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHBFLFXBXLBBBZ
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