Beazley plc
London, 11 February 2021
Grant of Share Incentives to Directors
Beazley plc announces that the following grants of nil cost options under the Beazley plc Long Term Incentive Plan ("LTIP") over the Company's ordinary shares of 5 pence each were made to the following Directors on 10 February 2021.
| Director | Number of nil-cost options over ordinary shares |
| Adrian Cox | 163,487 |
| Andrew Horton | 276,566 |
| Sally Lake | 147,138 |
In all cases, there was no consideration for the grant of the awards and the exercise price is nil. Ordinarily, 50% of each award will vest on the third anniversary of the date of grant, and will be subject to a 2-year holding period commencing on the vesting date. Ordinarily the second 50% of each award will become exercisable on the fifth anniversary of the date of grant. The awards will vest to the extent that the performance condition is satisfied, and are also subject to the participant meeting both shareholding requirements and to their continued employment.
For further information, please contact:
Beazley plc
Christine Oldridge
+44 (0)20 7674 7758
The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the EU Market Abuse Regulation (No. 596/2014).
Notification of transactions of persons discharging managerial responsibility or connected persons
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| a) | Name | Adrian Cox | |||||||
| 2 | Reason for the notification | ||||||||
| a) | Position/status | Director | |||||||
| b) | Initial notification/amendment | Initial notification | |||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Beazley plc | |||||||
| b) | LEI | 213800VTOMUWD41GIT12 | |||||||
| 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 5 pence each
GB00BYQ0JC66 | |||||||
| b) | Nature of the transaction | Grant of share options under the Beazley plc Long Term Incentive Plan ('LTIP'). | |||||||
| c) | Price(s) and volume(s) |
| |||||||
| d) | Aggregated information - Aggregated volume - Price |
n/a n/a | |||||||
| e) | Date of the transaction | 10 February 2021 | |||||||
| f) | Place of the transaction | Grant of the options occurred outside a trading venue. | |||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| a) | Name | Andrew Horton | |||||||
| 2 | Reason for the notification | ||||||||
| a) | Position/status | Director | |||||||
| b) | Initial notification/amendment | Initial notification | |||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Beazley plc | |||||||
| b) | LEI | 213800VTOMUWD41GIT12 | |||||||
| 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 5 pence each
GB00BYQ0JC66 | |||||||
| b) | Nature of the transaction | Grant of share options under the Beazley plc Long Term Incentive Plan ('LTIP'). | |||||||
| c) | Price(s) and volume(s) |
| |||||||
| d) | Aggregated information - Aggregated volume - Price |
n/a n/a | |||||||
| e) | Date of the transaction | 10 February 2021 | |||||||
| f) | Place of the transaction | Grant of the options occurred outside a trading venue. | |||||||
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||||||||
| a) | Name | Sally Lake | |||||||
| 2 | Reason for the notification | ||||||||
| a) | Position/status | Director | |||||||
| b) | Initial notification/amendment | Initial notification | |||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||
| a) | Name | Beazley plc | |||||||
| b) | LEI | 213800VTOMUWD41GIT12 | |||||||
| 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 5 pence each
GB00BYQ0JC66 | |||||||
| b) | Nature of the transaction | Grant of share options under the Beazley plc Long Term Incentive Plan ('LTIP'). | |||||||
| c) | Price(s) and volume(s) |
| |||||||
| d) | Aggregated information - Aggregated volume - Price |
n/a n/a | |||||||
| e) | Date of the transaction | 10 February 2021 | |||||||
| f) | Place of the transaction | Grant of the options occurred outside a trading venue. | |||||||
Note to editors:
Beazley plc (BEZ.L), is the parent company of specialist insurance businesses with operations in Europe, North America, Latin America and Asia. Beazley manages six Lloyd's syndicates and, in 2020, underwrote gross premiums worldwide of $3,563.8 million. All Lloyd's syndicates are rated A by A.M. Best.
Beazley's underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd's.
Beazley's European insurance company, Beazley Insurance dac, is regulated by the Central Bank of Ireland and is A rated by A.M. Best and A+ by Fitch.
Beazley is a market leader in many of its chosen lines, which include professional indemnity, cyber liability, property, marine, reinsurance, accident and life, and political risks and contingency business.
For more information please go to: www.beazley.com
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