DIRECT LINE INSURANCE GROUP PLC ("DLG")
TRANSACTIONS IN SHARES BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS")
14 NOVEMBER 2024
Following the appointment of Jane Poole as Chief Financial Officer on 10 October 2024, a Restricted Share Award ("RSP") has been made to Ms Poole over ordinary shares of 10 10/11 pence each in DLG, to compensate her for remuneration arrangements forfeited on leaving her former employer. Performance conditions do not apply to the RSP awards.
In addition, and in accordance with DLG's remuneration policy, an award has been made to Ms Poole under the DLG 2020 Long Term Incentive Plan (the "LTIP") over ordinary shares of 10 10/11 pence each in DLG. The number of shares awarded under the LTIP is based on the average closing share price over the three trading days prior to the date of grant, equal to £1.65.
RSP Awards
The Remuneration Committee has approved the following awards to Ms Poole to compensate her 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 2022 | 30,444 | 21/3/2025 |
| b) Deferred bonus 2023 | 44,903 44,906 | 21/3/2025 20/3/2026 |
| c) Deferred bonus 2024 | 41,332 41,332 41,334 | 28/3/2025 27/3/2026 25/3/2027 |
| d) LTIP 2022 | 150,149 | 21/3/2025 |
| e) LTIP 2022 | 25,044 | 11/8/2025 |
| f) LTIP 2023 | 136,128 | 20/3/2026 |
| g) One-off award 2024 | 76,468 76,468 | 22/9/2025 22/9/2026 |
All RSP awards will accrue dividend equivalent shares until vesting.
The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014(as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||||||||
| a)
| Name
| Jane Poole
| ||||||||||||
| 2
| Reason for the notification
| |||||||||||||
| a)
| Position/status
| Chief Financial 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
| (i) Award of three years' nil cost options under the Direct Line Insurance Group plc 2020 Long Term Incentive Plan. The award represents the regular 2024 award, has a total face value of 200% of annual base salary and is subject to the same performance conditions as awards made to DLG's PDMRs earlier in the year (except that Total Shareholder Return will be measured over the three years commencing on the date of grant); and (ii) Award of nil cost options under the Restricted Share Plan.
| ||||||||||||
| c)
| Price(s) and volume(s)
|
| ||||||||||||
| d)
| Aggregated information - Aggregated volume - Price |
N/A
| ||||||||||||
| e)
| Date of the transaction
| 11 November 2024 | ||||||||||||
| f)
| Place of the transaction
| Off market | ||||||||||||
Following the appointment of Martin Milliner as Managing Director, Claims on 1 October 2024, awards have been made to Martin under the DLG RSP to compensate him for remuneration arrangements forfeited on leaving his former employer. Performance conditions do not apply to these awards.
The following disclosure is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014(as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||
| a)
| Name
| Martin Milliner | ||||||
| 2
| Reason for the notification
| |||||||
| a)
| Position/status
| Managing Director, Claims / 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
| Award of nil cost options under the Restricted Share Plan. The award vests in one tranche.
| ||||||
| c)
| Price(s) and volume(s)
|
| ||||||
| d)
| Aggregated information - Aggregated volume - Price
|
N/A
| ||||||
| e)
| Date of the transaction
| 11 November 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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