Legal & General Group Plc
Notification of Transactions of Directors, Persons Discharging Managerial Responsibilities ("PDMRs") and persons closely associated
In line with the announcement made on 15 June 2023, as part of the remuneration terms relating to the appointment of António Simões as Group Chief Executive Officer and as an Executive Director of Legal & General Group Plc (the "Company"), the Company agreed to compensate António Simões for incentive awards forfeited by him on leaving his former employer.
In accordance with such remuneration terms, on 20 March 2024, the Company granted António Simões certain conditional awards of a total of 1,229,642 ordinary shares of 2.5p each in the Company under a one-off recruitment arrangement (the "Plan"), the terms of which are substantively equivalent to the Company's Share Bonus Plan. Further to the announcement made on 21 March 2024, and following the Plan, António's conditional awards of 170,512 shares and 216,096 shares vested on 20 March 2025. In line with best practice, the terms of the award entitle António to dividend equivalent payments to the extent that the award vests, which will be delivered in the form of additional shares and are included within the number of shares below.
The awards were granted on the basis of an average closing share price on the London Stock Exchange between 5 June 2023 and 7 June 2023 of £2.3767. No consideration was paid for the grant of the awards. No price is payable on the vesting of the awards.
This announcement, including the notifications below, is made in accordance with the requirements of Article 19 of the UK Market Abuse Regulation.
| 1 | Details of the person discharging managerial responsibilities/person closely associated | |||
| a) | Name | António Simões | ||
| 2 | Reason for the notification | |||
| a) | Position/status | Group 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 | Legal & General Group Plc | ||
| b) | LEI | 213800JH9QQWHLO99821 | ||
| 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 £0.025 each, with voting rights attached. GB0005603997 | ||
| b) | Nature of transaction | 1. Vesting of recruitment award of 419,739 shares. 2. Sale of 197,279 shares to cover tax and national insurance. The balance of 222,460 shares retained.
| ||
| c)
| Price(s) and volume(s)
| Price(s) | Volume(s) | |
| 1. Nil | 1. 419,739 | |||
| 2. £2.443 | 2. 197,279 | |||
| d) | Aggregated information - Aggregated volume - Price | 1. Price | 1. Volume | 1. Total |
| 1. Nil | 1. 419,739 | 1. Nil | ||
| | 2. Price | 2. Volume | 2. Total | |
| | 2. £2.443 | 2. 197,279 | 2. £481,952.60 | |
| e) | Date of the transaction | 20 March 2025 | ||
| f) | Place of the transaction | London Stock Exchange, XLON
| ||
21 March 2025
Leanne Cornish
Head of Group Secretariat
Legal & General Group Plc
Tel: 020 3124 4111
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