Direct Line Ins Grp (DLG) - Director/PDMR Shareholding RNS Number : 6372Q Direct Line Insurance Group PLC 08 November 2012 Notification of Transactions of Directors/Persons Discharging Managerial Responsibility Direct Line Group - Long Term Incentive Plan In accordance with DTR3.1.2(1), Direct Line Insurance Group plc ("Direct Line Group" or "the Company") was notified on 7 November 2012 of the grant of options to acquire Ordinary Shares of 10p ("Ordinary Shares") each, on 7 November 2012, to Executive Directors and other Persons Discharging Managerial Responsibility ("PDMR") under the Company's Long Term Incentive Plan ("LTIP"), as set out below. Subject to the performance conditions attached to the awards being met, the awards will vest on 7 November 2015 and will remain exercisable until 6 November 2022. The awards are granted as options to acquire vested Ordinary Shares at nil-cost. The market value per Ordinary Share subject to each option is 195.75p. Further details of the LTIP can be found in the Company's Prospectus dated 28 September 2012. Name Maximum Number of Shares Paul Geddes 388,250 John Reizenstein 234,993 Rob Bailhache 59,892 Jamie Brown 75,158 Darrell Evans 70,804 Jonathan Greenwood 105,363 Steve Maddock 118,773 Mark Martin 118,773 Angela Morrison 73,561 Humphrey Tomlinson 81,670 Jose Vazquez 151,513 Tom Woolgrove 162,835 Existing awards made under The Royal Bank of Scotland Group plc ("RBS Group") Long Term Incentive Plan ("RBS Group LTIP") As detailed in the Company's Prospectus dated 28 September 2012, certain Direct Line Group Executive Directors and PDMR held awards granted under the RBS Group LTIP. In order to align the interests of those participants with Direct Line Group shareholders, the remuneration committee of RBS Group determined that participants within Direct Line Group holding awards granted under the RBS Group LTIP in 2011 and 2012 would be given the opportunity to have those awards satisfied in Direct Line Group Ordinary Shares (the "Conversion"). These awards will remain subject to the terms of the RBS Group LTIP (including performance criteria, which will be determined by the RBS Group remuneration committee at vesting). The Conversion was calculated by taking the product of the number of RBS Group shares under award and the average share price of RBS Shares over the five business day period prior to the date the Direct Line Group offer price was announced, and dividing such product by the offer price of 175p. Following finalisation of the Conversion the Company's Executive Directors and PDMR have the following interests in Direct Line Group Ordinary Shares. Name Existing awards under the RBS LTIP, converted to Direct Line Group Shares Paul Geddes 1,298,394 John Reizenstein 282,277 Rob Bailhache 58,712 Jamie Brown 156,805 Darrell Evans 183,747 Jonathan Greenwood 177,061 Steve Maddock 212,284 Mark Martin 216,901 Angela Morrison 132,234 Humphrey Tomlinson 328,669 Jose Vazquez 214,445 Tom Woolgrove 242,801 Following the LTIP Award, the Company's Executive Directors and PDMR have the following interests in Direct Line Group Ordinary Shares. Name Total holding and Total number of Existing awards under percentage holding Ordinary Shares the RBS Group Long Term of Direct Line under option under Incentive Plan, Group Ordinary Direct Line Group converted to Direct Shares Share Plans Line Group Ordinary Shares Paul Geddes 57,142 (0.00)% 388,250 1,298,394 John Reizenstein 57,142 (0.00)% 234,993 282,277 Rob Bailhache 11,428 (0.00)% 59,892 58,712 Jamie Brown - 75,158 156,805 Darrell Evans 14,285 (0.00)% 70,804 183,747 Jonathan - 105,363 177,061 Greenwood Steve Maddock 17,142 (0.00)% 118,773 212,284 Mark Martin - 118,773 216,901 Angela Morrison - 73,561 132,234 Humphrey 17,142 (0.00)% 81,670 328,669 Tomlinson Jose Vazquez 17,142 (0.00)% 151,513 214,445 Tom Woolgrove 17,142 (0.00)% 162,835 242,801 -ENDS- Notes to Editors: For further information, please contact Robert Franklin Head of Secretariat Direct Line Group Tel: 020 8285 3764 This information is provided by RNS The company news service from the London Stock Exchange END RDSVVLBBLFFLFBQ -0- Nov/08/2012 09:00 GMT
Direct Line Ins Grp DLG Director/PDMR Shareholding
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