26 March 2024
Aviva
plc
Notification of Transactions of Directors and Persons
Discharging Managerial Responsibilities (PDMRs)
Vesting of Aviva Annual Bonus Plan (ABP) and Aviva Long Term
Incentive Plan (LTIP)
On 22 March 2024, the following
PDMRs received Aviva Ordinary Shares of 3217/19 pence each (Shares) following the vesting of
awards:
PDMR
|
Award
|
No. of Shares
vested
|
No. of Shares
sold
|
No. of Shares
held
|
Amanda
Blanc
|
LTIP
(2021)
ABP
(2021)
ABP
(2022)
ABP
(2023)
|
841,380
39,850
106,077
117,669
|
396,440
18,776
49,981
55,443
|
444,940
21,074
56,096
62,226
|
Charlotte
Jones
|
ABP
(2023)
|
16,633
|
7,837
|
8,796
|
Douglas
Brown
|
LTIP
(2021)
ABP
(2022)
ABP
(2023)
|
336,550
36,039
37,261
|
158,575
36,039
37,261
|
177,975
-
-
|
Jason
Storah
|
LTIP
(2021)
ABP
(2021)
ABP
(2022)
ABP
(2023)
|
218,412
14,713
26,255
26,788
|
118,882
8,008
14,147
13,956
|
99,530
6,705
12,108
12,832
|
Mark
Versey
|
LTIP
(2021)
ABP
(2022)
ABP
(2023)
|
105,171
34,970
26,127
|
105,171
34,970
26,127
|
-
-
-
|
The awards were released at a price
of 494.5 pence.
The number of Shares vested included
additional Shares received in lieu of dividends, which are subject
to tax.
The awards have been settled on a
net-of-tax basis.
The LTIP awards vested in accordance
with the rules of the plan and following performance
testing.
Amanda Blanc's LTIP award, following
the sale of a proportion of vested awards to cover taxes, is
subject to a two-year holding period.
Douglas Brown's and Mark Versey's
LTIP awards have personal performance conditions aligned with CRD
IV requirements.
Grant of ABP, LTIP
and
Aviva Recruitment
and Retention Share Award Plan (RRSAP) awards
On 25 March 2024, the following
PDMRs were granted conditional awards over Shares:
PDMR
|
No. of Shares awarded under
ABP
|
No. of Shares awarded under
LTIP
|
No. of Shares awarded under
RRSAP
|
Amanda Blanc
|
259,288
|
773,006
|
-
|
Charlotte Jones
|
123,511
|
325,562
|
-
|
Douglas Brown
|
91,002
|
299,591
|
-
|
Tracy Garrad
|
17,081
|
260,736
|
-
|
James Hillman
|
45,807
|
214,723
|
111,108
|
Jason Storah
|
79,243
|
265,848
|
-
|
Mark Versey
|
-
|
83,333
|
-
|
The awards were granted for nil
consideration.
The price used to calculate the
number of shares awarded under the ABP and LTIP was 489
pence.
The ABP awards represent the
deferral for a period of three years of a percentage of the bonuses
paid to PDMRs in respect of 2023 and will vest in three equal
annual tranches in accordance with the plan rules.
The LTIP awards will vest in 2027 in
accordance with the plan rules, subject to the achievement of the
performance conditions outlined in the Remuneration Policy.
Performance will be measured over a three-year
performance period from 1 January 2024 to 31 December
2026.
The LTIP awards granted to Executive
Directors are subject to a two-year post-vesting holding period and
therefore will be released in 2029.
The LTIP award granted to Mark
Versey is subject to a six-month post-vesting holding period and
therefore will be released in September 2027.
The LTIP awards granted to Douglas
Brown and Mark Versey are also subject to personal performance
conditions, in line with Investment Firms Prudential Regime (IFPR)
regulations. Individual performance is therefore considered at both
the point of grant and prior to any vesting.
The RRSAP award was granted to James
Hillman to replace, on like for like basis, deferred compensation
forfeited on resignation from his previous employer. The price used
to calculate the number of RRSAP shares awarded is 422 pence, being
the average of the mid-market closing price of a Share on the three
consecutive business days immediately preceding 27 November 2023,
being his start date.
Under each of the ABP, LTIP and
RRSAP awards, additional shares are awarded at vesting in lieu of
dividends on the shares that vest.
This announcement 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
|
a)
|
Name
|
Amanda Blanc
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Group Chief Executive
Officer
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
3
|
Details of the issuer
|
a)
|
Name
|
Aviva plc
|
b)
|
LEI
|
YF0Y5B0IB8SM0ZFG9G81
|
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
|
Shares
GB00BPQY8M80
|
b)
|
Nature of transaction
|
1. Vesting of 1,104,976 Shares
under the LTIP 2021 and ABP 2021, 2022, 2023.
2. Sale of 520,640
Shares.
3. Grant of conditional awards
over Shares under the Aviva Long Term Incentive Plan.
4. Grant of conditional awards
over Shares under the Aviva Annual Bonus Plan.
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
|
1. £4.945
2. £4.945
3. Nil
4. Nil
|
1. 1,104,976
2. 520,640
3. 773,006
4. 259,288
|
d)
|
Aggregated information
|
Price(s)
|
Aggregate volume(s)
|
|
|
1. £5,464,106.32
2. £2,574,564.80
3. Nil
4. Nil
|
1. 1,104,976
2. 520,640
3. 773,006
4. 259,288
|
e)
|
Date of the transaction
|
1. 2024-03-22
2. 2024-03-22
3. 2024-03-25
4. 2024-03-25
|
f)
|
Place of the transaction
|
1. London Stock Exchange,
XLON
2. London Stock Exchange,
XLON
3. Outside a trading
venue
4. Outside a trading
venue
|
1
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
|
Charlotte Jones
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Group Chief Financial
Officer
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
3
|
Details of the issuer
|
a)
|
Name
|
Aviva plc
|
b)
|
LEI
|
YF0Y5B0IB8SM0ZFG9G81
|
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
|
Shares
GB00BPQY8M80
|
b)
|
Nature of transaction
|
1. Vesting of 16,633 Shares
under the ABP 2023.
2. Sale of 7,837
Shares.
3. Grant of conditional awards
over Shares under the Aviva Long Term Incentive Plan.
4. Grant of conditional awards
over Shares under the Aviva Annual Bonus Plan.
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
|
1. £4.945
2. £4.945
3. Nil
4. Nil
|
1. 16,633
2. 7,837
3. 325,562
4. 123,511
|
d)
|
Aggregate information
|
Price(s)
|
Aggregate volume(s)
|
|
|
1. £82,250.18
2. £38,753.96
3. Nil
4. Nil
|
1. 16,633
2. 7,837
3. 325,562
4. 123,511
|
e)
|
Date of the transaction
|
1. 2024-03-22
2. 2024-03-22
3. 2024-03-25
4. 2024-03-25
|
f)
|
Place of the transaction
|
1. London Stock Exchange,
XLON
2. London Stock Exchange,
XLON
3. Outside a trading
venue
4. Outside a trading
venue
|
1
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
|
Douglas Brown
|
2
|
Reason for the notification
|
a)
|
Position/status
|
CEO of Insurance, Wealth &
Retirement
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
3
|
Details of the issuer
|
a)
|
Name
|
Aviva plc
|
b)
|
LEI
|
YF0Y5B0IB8SM0ZFG9G81
|
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
|
Shares
GB00BPQY8M80
|
b)
|
Nature of transaction
|
1. Vesting of 409,850 Shares
under the LTIP 2021 and ABP 2022, 2023.
2. Sale of 231,875
Shares.
3. Grant of conditional awards
over Shares under the Aviva Long Term Incentive Plan.
4. Grant of conditional awards
over Shares under the Aviva Annual Bonus Plan.
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
|
1. £4.945
2. £4.945
3. Nil
4. Nil
|
1. 409,850
2. 231,875
3. 299,591
4. 91,002
|
d)
|
Aggregate information
|
Price(s)
|
Aggregate volume(s)
|
|
|
1. £2,026,708.25
2. £1,146,621.88
3. Nil
4. Nil
|
1. 409,850
2. 231,875
3. 299,591
4. 91,002
|
e)
|
Date of the transaction
|
1. 2024-03-22
2. 2024-03-22
3. 2024-03-25
4. 2024-03-25
|
f)
|
Place of the transaction
|
1. London Stock Exchange,
XLON
2. London Stock Exchange,
XLON
3. Outside a trading
venue
4. Outside a trading
venue
|
1
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
|
Tracy Garrad
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
CEO of Aviva Canada
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
3
|
Details of the issuer
|
a)
|
Name
|
Aviva plc
|
b)
|
LEI
|
YF0Y5B0IB8SM0ZFG9G81
|
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
|
Shares
GB00BPQY8M80
|
b)
|
Nature of transaction
|
1. Grant of conditional awards
over Shares under the Aviva Long Term Incentive Plan.
2. Grant of conditional awards
over Shares under the Aviva Annual Bonus Plan.
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
|
1. Nil
2. Nil
|
1. 260,736
2. 17,081
|
d)
|
Aggregate information
|
Price(s)
|
Aggregate volume(s)
|
|
|
1. Nil
2. Nil
|
1. 260,736
2. 17,081
|
e)
|
Date of the transaction
|
2024-03-25
|
f)
|
Place of the transaction
|
Outside a trading venue
|
1
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
|
James Hillman
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
Group Chief Risk Officer
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
3
|
Details of the issuer
|
a)
|
Name
|
Aviva plc
|
b)
|
LEI
|
YF0Y5B0IB8SM0ZFG9G81
|
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
|
Shares
GB00BPQY8M80
|
b)
|
Nature of transaction
|
1. Grant of conditional awards
over Shares under the Aviva Long Term Incentive Plan.
2. Grant of conditional awards
over Shares under the Aviva Annual Bonus Plan.
3. Grant of conditional awards
over Shares under the Aviva Recruitment and Retention Share Award
Plan.
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
|
1. Nil
2. Nil
3. Nil
|
1. 214,723
2. 45,807
3. 111,108
|
d)
|
Aggregate information
|
Price(s)
|
Aggregate volume(s)
|
|
|
1. Nil
2. Nil
3. Nil
|
1. 214,723
2. 45,807
3. 111,108
|
e)
|
Date of the transaction
|
2024-03-25
|
f)
|
Place of the transaction
|
Outside a trading venue
|
1
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
|
Jason Storah
|
2
|
Reason for the notification
|
a)
|
Position/status
|
CEO of UK & Ireland General
Insurance
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
3
|
Details of the issuer
|
a)
|
Name
|
Aviva plc
|
b)
|
LEI
|
YF0Y5B0IB8SM0ZFG9G81
|
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
|
Shares
GB00BPQY8M80
|
b)
|
Nature of transaction
|
1. Vesting of 286,168
Shares under LTIP, ABP 2021, 2022, 2023.
2. Sale 154,993
Shares.
3. Grant of conditional
awards over Shares under the Aviva Long Term Incentive
Plan.
4. Grant of conditional
awards over Shares under the Aviva Annual Bonus Plan.
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
|
1. £4.945
2. £4.945
3. Nil
4. Nil
|
1. 286,168
2. 154,993
3. 265,848
4. 79,243
|
d)
|
Aggregate information
|
Price(s)
|
Aggregate volume(s)
|
|
|
1. £1,415,100.76
2. £766,440.39
3. Nil
4. Nil
|
1. 286,168
2. 154,993
3. 265,848
4. 79,243
|
e)
|
Date of the transaction
|
1. 2024-03-22
2. 2024-03-22
3. 2024-03-25
4. 2024-03-25
|
f)
|
Place of the transaction
|
1. London Stock Exchange,
XLON
2. London Stock Exchange,
XLON
3. Outside a trading
venue
4. Outside a trading
venue
|
1
|
Details of the person discharging managerial
responsibilities
|
a)
|
Name
|
Mark Versey
|
2
|
Reason for the
notification
|
a)
|
Position/status
|
CEO of Aviva Investors
|
b)
|
Initial
notification/Amendment
|
Initial notification
|
3
|
Details of the issuer
|
a)
|
Name
|
Aviva plc
|
b)
|
LEI
|
YF0Y5B0IB8SM0ZFG9G81
|
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
|
Shares
GB00BPQY8M80
|
b)
|
Nature of transaction
|
1. Vesting of 166,268 Shares
under LTIP, ABP 2022, 2023.
2. Sale of 166,268
Shares.
3. Grant of conditional awards
over Shares under the Aviva Long Term Incentive Plan.
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
|
|
1. £4.945
2. £4.945
3. Nil
|
1. 166,268
2. 166,268
3. 83,333
|
d)
|
Aggregated information
|
Price(s)
|
Aggregate volume(s)
|
|
|
1. £822,195.26
2. £822,195.26
3. Nil
|
1. 166,268
2. 166,268
3. 83,333
|
e)
|
Date of the transaction
|
1. 2024-03-22
2. 2024-03-22
3. 2024-03-25
|
f)
|
Place of the transaction
|
1. London Stock Exchange,
XLON
2. London Stock Exchange,
XLON
3. Outside a trading
venue
|
-ends-
Enquiries:
Media:
Andrew
Reid
+44 (0)7800 694 276
Sarah
Swailes
+44 (0)7800 694 859
Marion
Fischer
+44 (0)7800 693 219
Analysts:
Rupert
Taylor
Rea
+44 (0)7385 494 440
Joel von
Sternberg
+44 (0)7384 231 238
Michael O'Hara
+44 (0)7387 234 388
Notes to editors:
·
We are the UK's leading diversified insurer
and we operate in the UK, Ireland and Canada. We
also have international investments in India and China.
·
We help our 19.2 million
customers make the most out of life, plan for the
future, and have the confidence that if things go wrong
we'll be there to put it right.
·
We have been taking care of people for more than
325 years, in line with our purpose of being 'with you today, for a
better tomorrow'. In 2023, we paid £25.6
billion in claims and benefits to our
customers.
·
In 2021, we announced our ambition to become Net
Zero by 2040, the first major insurance company in the world to do
so. We are aiming to have Net Zero carbon emissions from Aviva's
operations and supply chain by 2030. While we are working towards
our sustainability ambitions, we recognise that while we have
control over Aviva's operations and influence on our supply chain,
when it comes to decarbonising the economy in which we operate and
invest, Aviva is one part of a far larger global ecosystem. There
are also limits to our ability to influence other organisations and
governments. Nevertheless, we remain focused on the task and are
committed to playing our part in the collective effort to enable
the global transition. Find out more about our climate goals
at www.aviva.com/climate-goals
and our sustainability ambition and action at www.aviva.com/sustainability
·
Aviva is a Living Wage, Living Pension and Living
Hours employer and provides market-leading benefits for our people,
including flexible working, paid carers leave and equal parental
leave. Find out more at www.aviva.com/about-us/our-people
·
As at 31 December 2023, total Group assets under
management at Aviva Group were £376 billion
and our estimated Solvency II shareholder capital
surplus was £8.8 billion. Our shares are
listed on the London Stock Exchange and we are a member of the FTSE
100 index.
·
For more details on what we do, our business and
how we help our customers, visit www.aviva.com/about-us
·
The Aviva newsroom at www.aviva.com/newsroom
includes links to our spokespeople images,
podcasts, research reports and our news release archive.
Sign up to get the latest news from
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·
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·
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