8 April 2022
Sabre Insurance Group plc ("Sabre" or the "Company")
Notification of transactions of Directors, Persons Discharging Managerial Responsibility or Connected Persons
Awards under the Company's Deferred Bonus Plan
The Company announces that on 7 April 2022 the following directors and PDMRs of the Company were, subject to the rules of the Sabre 2017 Deferred Bonus Plan, each granted a conditional award (the 'DBP Award') of ordinary shares of £0.001 in the Company, in respect of bonuses earned for the financial year ended 31 December 2021 as detailed below:
| Name | Position | Number of shares subject to award |
| Geoff Carter | Chief Executive Officer | 47,557 |
| Anneka Kingan | Chief Risk Officer and Company Secretary | 18,044 |
| Trevor Webb | Claims Director | 36,394 |
| Adam Westwood | Chief Financial Officer | 24,008 |
| Matt Wright | Chief Actuary | 18,656 |
Subject to the rules of the Sabre 2017 Deferred Bonus Plan, the DBP Awards will vest on the second anniversary of the grant date.
Awards under the Company's Long Term Incentive Plan
The Company further announces that on 7 April 2022 the following directors and PDMRs of the Company were, subject to the rules of the Sabre 2017 Long Term Incentive Plan, each granted a conditional award (the 'LTIP Award') of ordinary shares of £0.001 in the Company as detailed below:
| Name | Position | Number of shares subject to award |
| Geoff Carter | Chief Executive Officer | 145,802 |
| Anneka Kingan | Chief Risk and Officer and Company Secretary | 56,197 |
| Trevor Webb | Claims Director | 90,764 |
| Adam Westwood | Chief Financial Officer | 71,216 |
| Matt Wright | Chief Actuary | 58,499 |
The awards will vest on the third anniversary of their grant, and are subject to an additional retention period of two years, commencing on the awards' vesting date.
The vesting of the awards will be subject to the following underpins:
· that the solvency coverage ratio of the Group (being the ratio of the Group's Solvency II net assets to its Solvency Capital Requirement, calculated before the final dividend is paid, expressed as a percentage) is maintained in excess of 140% over the LTIP Period;
· that the Group has achieved a Return On Tangible Equity (being the ratio of the Group's adjusted profit after tax to its average tangible equity, expressed as a percentage) in excess of 10% for each full reporting period which falls within the LTIP Period;
· that there has been no material intervention by a regulatory authority either initiated during the LTIP Period or related to it, that results in a Group Member being required by the relevant authority to undertake actions or remedial measures; and
· overall Committee discretion.
This notification is made pursuant to Article 19 of the EU Market Abuse Regulation.
Additional Information:
Anneka Kingan - Company Secretary
PDMR transaction notification
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||||
| a)
| Name
| Geoff Carter | ||||||
| 2
| Reason for the notification
| |||||||
| a)
| Position/status
| 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
| Sabre Insurance Group plc | ||||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Deferred Bonus Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||||
|
|
| |||||||
| Identification code | GB00BYWVDP49 | |||||||
|
|
| |||||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||||
| c)
| Price(s) and volume(s) |
| ||||||
| d) | Aggregated Information Volume Price |
| ||||||
| e) | Date of transaction | 7 April 2022 | ||||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Anneka Kingan | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Risk Officer and Company Secretary | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Sabre Insurance Group plc | ||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Deferred Bonus Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||
|
|
| |||||
| Identification code | GB00BYWVDP49 | |||||
|
|
| |||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||
| c)
| Price(s) and volume(s) |
| ||||
| d) | Aggregated Information Volume Price |
| ||||
| e) | Date of transaction | 7 April 2022 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
PDMR transaction notification
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Trevor Webb | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Claims Director | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Sabre Insurance Group plc | ||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Deferred Bonus Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||
|
|
| |||||
| Identification code | GB00BYWVDP49 | |||||
|
|
| |||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||
| c)
| Price(s) and volume(s) |
| ||||
| d) | Aggregated Information Volume Price |
| ||||
| e) | Date of transaction | 7 April 2022 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
PDMR transaction notification
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Adam Westwood | ||||
| 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
| Sabre Insurance Group plc | ||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Deferred Bonus Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||
|
|
| |||||
| Identification code | GB00BYWVDP49 | |||||
|
|
| |||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||
| c)
| Price(s) and volume(s) |
| ||||
| d) | Aggregated Information Volume Price |
| ||||
| e) | Date of transaction | 7 April 2022 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
PDMR transaction notification
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Matt Wright | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Actuary | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Sabre Insurance Group plc | ||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Deferred Bonus Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||
|
|
| |||||
| Identification code | GB00BYWVDP49 | |||||
|
|
| |||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||
| c)
| Price(s) and volume(s) |
| ||||
| d) | Aggregated Information Volume Price |
| ||||
| e) | Date of transaction | 7 April 2022 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
PDMR transaction notification
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Geoff Carter | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| 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
| Sabre Insurance Group plc | ||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Long-Term Incentive Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||
|
|
| |||||
| Identification code | GB00BYWVDP49 | |||||
|
|
| |||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||
| c)
| Price(s) and volume(s) |
| ||||
| d) | Aggregated Information Volume Price |
| ||||
| e) | Date of transaction | 7 April 2022 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
PDMR transaction notification
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Anneka Kingan | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Risk Officer and Company Secretary | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Sabre Insurance Group plc | ||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Long-Term Incentive Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||
|
|
| |||||
| Identification code | GB00BYWVDP49 | |||||
|
|
| |||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||
| c)
| Price(s) and volume(s) |
| ||||
| d) | Aggregated Information Volume Price |
| ||||
| e) | Date of transaction | 7 April 2022 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
PDMR transaction notification
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Trevor Webb | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Claims Director | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Sabre Insurance Group plc | ||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Long-Term Incentive Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||
|
|
| |||||
| Identification code | GB00BYWVDP49 | |||||
|
|
| |||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||
| c)
| Price(s) and volume(s) |
| ||||
| d) | Aggregated Information Volume Price |
| ||||
| e) | Date of transaction | 7 April 2022 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
PDMR transaction notification
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Adam Westwood | ||||
| 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
| Sabre Insurance Group plc | ||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Long-Term Incentive Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||
|
|
| |||||
| Identification code | GB00BYWVDP49 | |||||
|
|
| |||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||
| c)
| Price(s) and volume(s) |
| ||||
| d) | Aggregated Information Volume Price |
| ||||
| e) | Date of transaction | 7 April 2022 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
PDMR transaction notification
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Matt Wright | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| Chief Actuary | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| |||||
| a)
| Name
| Sabre Insurance Group plc | ||||
| b)
| LEI
| 2138006RXRQ8P8VKGV98 | ||||
| 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 | A non-transferable conditional award of ordinary shares in the Company under the Sabre 2017 Long-Term Incentive Plan. No consideration will be paid by the PDMR on the grant or vesting of the conditional award. | ||||
|
|
| |||||
| Identification code | GB00BYWVDP49 | |||||
|
|
| |||||
| b)
| Nature of the transaction
| Grant of conditional award | ||||
| c)
| Price(s) and volume(s) |
| ||||
| d) | Aggregated Information Volume Price |
| ||||
| e) | Date of transaction | 7 April 2022 | ||||
| f) | Place of transaction | London Stock Exchange (XLON) | ||||
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