Aviva PLC Director/PDMR Shareholding - LTIP Grant (6322V)
10 Agosto 2020 - 4:00AM
UK Regulatory
TIDMAV.
RNS Number : 6322V
Aviva PLC
10 August 2020
10 August 2020
AVIVA PLC ("Aviva")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS
DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
Aviva announces that:
-- On 6 August 2020, the undernoted PDMRs were granted
conditional awards over Aviva plc ordinary shares under the Aviva
Long Term Incentive Plan 2011 ("LTIP"). The LTIP awards have been
granted based on the award price, vesting schedule and performance
conditions as applied to the LTIP awards made on 23 March 2020. The
Group CEO LTIP award is consistent with the level set out in our
announcement of 6 July 2020 following the appointment of Amanda
Blanc.
-- The LTIP awards for the PDMRs will vest in 2023 in accordance
with the plan rules. LTIP awards for Executive Directors are
subject to an additional two-year post-vesting holding period and
therefore will be released in 2025.
-- The LTIP awards are subject to the achievement of performance
targets (50% based on Solvency II Return on Equity and 50% based on
relative Total Shareholder Return against a comparator group). The
Solvency II Shareholder Cover Ratio is to meet or exceed the
minimum of the stated working range - currently 160% to 180% as a
gateway hurdle. These targets will be measured over a three-year
performance period from 1 January 2020 to 31 December 2022. The
amounts shown below represent the maximum possible opportunity.
-- Under each of the LTIP awards, additional shares are awarded
at vesting in lieu of dividends on shares that vest.
-- The awards were made for nil consideration.
-- The price used to calculate the number of LTIP shares awarded
was GBP2.29, being the average of the mid-market closing price of
an Aviva ordinary share on the three consecutive business days
immediately preceding 23 March 2020, and in line with the method of
calculation used for awards granted to other employees. It is also
noted that under the terms of the awards granted, the Remuneration
Committee has full discretion to ensure that the final vesting
outcomes are justified based on the performance of the Group in
light of all relevant factors. The Committee is mindful of the need
to ensure there are not any windfall gains as a result of share
price movements.
PDMRs Number of LTIP Shares
Awarded
Amanda Blanc 641,921
----------------------
Nitinbhai Amin 436,681
----------------------
This announcement, in relation to transactions in London, United
Kingdom, is made pursuant to with Article 19 of the EU Market Abuse
Regulation 596/2014.
Media Enquiries:
Andrew Reid +44 (0)207 662 3131
Sarah Swailes +44 (0)207 662 6700
Share Award Enquiries:
Elena Petrou, Company Secretarial +44 (0)7800 694 843
Template for notification and public disclosure of transactions
by persons discharging managerial responsibilities (PDMRs) and
persons closely associated with them
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, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
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 * SHARES
Identification code
* GB0002162385
------------------------------------- ---------------------------------------
b) Nature of transaction Grant of conditional awards over
Aviva plc ordinary shares under
the Aviva Long Term Incentive Plan
2011 (LTIP)
------------------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- ------------------------ -------------
Nil cost option 641,921
------------------------------------------------------------------- -------------
Aggregated information
* Aggregated volume
d) * Price Nil cost option 641,921
------------------------------------- ------------------------ -------------
e) Date of the transaction 2020-08-06
------------------------------------- ---------------------------------------
f) Place of the transaction LONDON STOCK EXCHANGE, XLON
------------------------------------- ---------------------------------------
Template for notification and public disclosure of transactions
by persons discharging managerial responsibilities (PDMRs) and
persons closely associated with them
1 Details of the person discharging managerial responsibilities
a) Name Nitinbhai Amin
------------------------------------- ---------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status Chief Operating Officer (subject
to regulatory approval)
------------------------------------- ---------------------------------------
b) Initial notification/Amendment INITIAL NOTIFICATION
------------------------------------- ---------------------------------------
3 Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
------------------------------------------------------------------------------
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 * SHARES
Identification code
* GB0002162385
------------------------------------- ---------------------------------------
b) Nature of transaction Grant of conditional awards over
Aviva plc ordinary shares under
the Aviva Long Term Incentive Plan
2011 (LTIP)
------------------------------------- ---------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
------------------------------------- ------------------------ -------------
Nil cost option 436,681
------------------------------------------------------------------- -------------
Aggregated information
* Aggregated volume
d) * Price Nil cost option 436,681
------------------------------------- ------------------------ -------------
e) Date of the transaction 2020-08-06
------------------------------------- ---------------------------------------
f) Place of the transaction LONDON STOCK EXCHANGE, XLON
------------------------------------- ---------------------------------------
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
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