Source - RNS
RNS Number : 5739I
Aviva PLC
31 August 2016
 

31 August 2016

 

AVIVA PLC ("Aviva")

 

NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")

 

Aviva announces that:

 

The Aviva Chief Financial Officer Award 2014 (CFO Award)

 

 

·      As announced on 24 March 2015, consistent with the terms of his employment agreement, Mr Stoddard received a CFO Award to partially compensate him for deferred compensation he forfeited on resignation from his previous employer.  The CFO Award has vested in stages.  The first tranche in 2015, the second tranche in 2016 and a final tranche in 2017. 

 

·      Accordingly on 30 August 2016 the second tranche of the CFO Award vested and Mr  Stoddard received the following Aviva ordinary shares of 25 pence each (Shares):

 

 

Name

Award

Price at which Shares granted

(pence)

Shares received from award

No. of Shares sold to cover taxes and costs

No. of Shares retained net of taxes and costs

Price at which Shares sold

(pence)

Tom Stoddard

CFO Award

509p

51,527

24,304

27,223

418.21p

 

 

·      These Shares vested in accordance with the rules of the CFO Award:

 

The CFO Award was made for nil consideration. 

 

The CFO Award was granted at a price of £5.09 per share, which was based on the average share price of an Aviva ordinary share 3 days prior to Mr Stoddard joining the Company.  

 

The releases under the CFO Award include additional Shares received in lieu of dividends, which are subject to tax.

 

·      The awards have been settled on a net-of-tax basis.

 

 

The Notification of Dealing Form can be found below.  This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014.

 

 

Media Enquiries:

Sarah Swailes                                                               +44 (0)7800 694 859

 

General Enquiries:

Elena Petrou, Company Secretarial                                 +44 (0)207 662 1268



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/person closely associated

a)

Name

THOMAS STODDARD

2

Reason for the notification

a)

Position/status

Chief Financial 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

Identification code

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

Acquisition of shares following the release of the 2nd tranche of vested shares granted under the CFO Award (awarded as part of his employment agreement when joining Aviva). 

c)

Price(s) and volume(s)

Grant Price

Volume(s)

 

 

£5.09 per share

51,527

d)

Aggregated information

-     Aggregated volume

-     Price

 

 

£51,527

£5.09

£262272.43

 

e)

Date of the transaction

30 August 2016

f)

Place of the transaction

Outside a trading venue

 

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/person closely associated

a)

Name

THOMAS STODDARD

2

Reason for the notification

a)

Position/status

Chief Financial 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

Identification code

 

-     SHARES

 

-     GB0002162385

b)

Nature of transaction

Sale of shares to cover income tax and employee national insurance following the release of the 2nd tranche of vested shares granted under the CFO Award. 

c)

Price(s) and volume(s)

Sale Price

Volume(s)

 

 

£4.1821 per share

24,304

d)

Aggregated information

-     Aggregated volume

-     Price

 

 

24,304

£4.1821

£101,641.76

 

e)

Date of the transaction

30 August 2016

f)

Place of the transaction

London Stock Exchange, XLON

 

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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