Direct Line Insurance Group PLC
09 April 2024
DIRECT LINE INSURANCE GROUP PLC ("DLG")
TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRs")
9 April 2024
Following the appointment of Adam Winslow as Chief Executive Officer on 1 March 2024, a Restricted Share Award pursuant to Listing Rule 9.4.2 ("RSA") has been made to Mr Winslow over ordinary shares of 10 10/11 pence each in DLG. All remuneration arrangements are consistent with the terms of the Directors' Remuneration Policy approved by shareholders at the AGM in May 2023.
RSP Awards
The Remuneration Committee made the following awards to Mr Winslow to compensate him for remuneration arrangements forfeited on leaving Aviva. Performance conditions do not apply to these awards.
| Scheme Replaced | Number of options awarded | Normal Vesting Date |
| a) Deferred Bonus 2021 | 84,953 84,953 | 8/4/2024 21/3/2025 |
| b) Deferred Bonus 2022 | 83,726 83,726 83,727 | 8/4/2024 21/3/2025 20/3/2026 |
| c) Deferred Bonus 2023 | 84,945 84,945 84,945 | 28/3/2025 27/3/2026 25/3/2027 |
| Scheme Replaced | Number of options awarded | Normal Vesting Date |
| a) 2021 LTIP | 796,940 | 8/4/2024 |
| b) 2022 LTIP | 629,816 | 21/3/2025 |
| c) 2023 LTIP | 692,721 | 20/3/2026 |
All RSP awards will accrue dividend equivalent shares until vesting.
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
| Adam Winslow
| ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Executive Officer / PDMR
| ||||
| b)
| Initial notification /Amendment
| Initial Notification | ||||
| 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 financial instrument, type of instrument
Identification code
| Ordinary shares of 10 10/11 pence ("Shares")
GB00BY9D0Y18
| ||||
| b)
| Nature of the transaction
| Nil cost option restricted share award pursuant to Listing Rule 9.4.2 ("RSA"). Performance conditions do not apply to these awards.
| ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information - Aggregated volume - Price
|
N/A Single transaction
| ||||
| e)
| Date of the transaction
| 5 April 2024 | ||||
| f)
| Place of the transaction
| Off market | ||||
For any enquiries relating to this announcement, please contact:
Roger Clifton
Company Secretary
Email: Roger.Clifton@directlinegroup.co.uk
LEI: 213800FF2R23ALJQOP04
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