Source - LSE Regulatory
RNS Number : 1963P
M&G PLC
16 June 2022
 

M&G plc NEWS RELEASE
16 June 2022

M&G plc

Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMRs')

Awards under the M&G Performance Share Plan 2019 (the 'Performance Share Plan') - 2022 Performance Awards

On 16 June 2022, the Company granted nil-cost options to Kathryn McLeland, Chief Financial Officer, M&G plc and Vanessa Murden, Chief Operating Officer, M&G plc (the 'COO'), under the Performance Share Plan. The options granted in 2022 are subject to the achievement of performance conditions over a three-year period, plus a subsequent holding period of two years, and have been made using the average market share price for the three days preceding the award date of 16 June 2022.

Awards under the M&G Deferred Incentive Plan 2019 (the 'Deferred Incentive Plan')

On 16 June 2022, the Company made a deferred bonus short-term incentive ('STI') award to the COO under the terms of the Deferred Incentive Plan. An award representing a proportion of her annual STI has been deferred into a conditional award over shares which is due to vest in April 2025. The award is based on the average market share price for the three days preceding 1 April 2022, of £2.2310, in line with STI  awards made to PDMRs on 1 April 2022 and announced on that date.

Awards under the M&G Performance Share Plan 2019 (the 'Performance Share Plan') - Recruitment Awards

On 16 June 2022, the Company granted Recruitment Awards in the form of nil-cost options (the 'Recruitment Awards') to the COO as set out in the summary table below, under the terms of the Performance Share Plan. The options replace awards forfeited by her as a result of her recruitment by M&G plc.  The vesting of the award over 241,418 M&G shares is subject to the achievement of performance conditions.  Holding periods that apply after vesting are set out in the table below. The Recruitment Awards have been made using the average market share price for the three days preceding her start date with M&G plc, of £2.1357.

Name

Position

Number of nil-cost options granted under the Performance Share Plan

Recruitment Award

Number of Conditional Awards granted under the Deferred Incentive Plan

Date of Vesting

Holding Period end date

Kathryn McLeland

Chief Financial Officer

643,808

No

-

16/06/2025

16/06/2027

Vanessa Murden

Chief Operating Officer

377,405

No

-

16/06/2025

16/06/2027

Vanessa Murden

Chief Operating Officer

-

No

91,214

01/04/2025

Not applicable

Vanessa Murden

Chief Operating Officer

241,418

Yes

-

05/03/2023

01/04/2025

Vanessa Murden

Chief Operating Officer

65,614

Yes

-

04/03/2024

01/04/2026

Vanessa Murden

Chief Operating Officer

21,871

Yes

-

04/03/2025

01/04/2026

Vanessa Murden

Chief Operating Officer

21,872

Yes

-

04/03/2026

01/04/2027

Vanessa Murden

Chief Operating Officer

15,709

Yes

-

06/03/2023

01/04/2024

Vanessa Murden

Chief Operating Officer

15,709

Yes

-

06/03/2024

01/04/2025

Vanessa Murden

Chief Operating Officer

13,386

Yes

-

06/03/2023

01/04/2024

Vanessa Murden

Chief Operating Officer

49,845

Yes

-

23/06/2022

01/04/2024

Vanessa Murden

Chief Operating Officer

14,158

Yes

-

23/06/2022

03/04/2023

Vanessa Murden

Chief Operating Officer

14,393

Yes

-

23/06/2022

06/09/2022

Vanessa Murden

Chief Operating Officer

2,842

Yes

-

23/06/2022

03/04/2023

Vanessa Murden

Chief Operating Officer

2,841

Yes

-

23/06/2022

Not applicable

 

The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.

Contact

Alan Porter, General Counsel and Company Secretary - 020 8162 4064

Penny Woodcock, Deputy Company Secretary - PLC & Governance - 020 8162 3112

 

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Kathryn McLeland

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

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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

 

 


GB00BKFB1C65

 b) 

Nature of the transaction

Award granted under the Performance Share Plan due to vest in June 2025 subject to the achievement of performance conditions. 

 

c)

Price(s) and volume(s)

Price (s)

Volume (s)

£2.0270

643,808


Aggregated information

 

-Aggregated volume

 

-Price

 

 

643,808

 

£2.0270


Date of the transaction

2022-06-16


Place of the transaction

Outside a trading venue

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Vanessa Murden

2

Reason for the notification

a)

Position/status

Chief Operating Officer

b)

Initial notification/Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

M&G plc 

b)

LEI

254900TWUJUQ44TQJY84

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

 

 


GB00BKFB1C65

 b) 

Nature of the transaction

a.    Award granted under the Deferred Incentive Plan to be released in April 2025

b.    Award granted under the Performance Share Plan due to vest in June 2025 subject to the achievement of performance conditions 

c.     Recruitment Awards granted under the Performance Share Plan subject to the achievement of performance conditions 

d.    Recruitment Awards granted under the Performance Share Plan with no performance conditions 

 

c)

Price(s) and volume(s)

Item

Price (s)

Volume (s)

a.

£2.2310

91,214

b.

£2.0270

377,405

c.

£2.1357

241,418

d.

£2.1357

238,240


Aggregated information

 

-Aggregated volume

 

-Price

 

 

948,277

 

£2.1016


Date of the transaction

2022-06-16


Place of the transaction

Outside a trading venue

 

 

LEI: 254900TWUJUQ44TQJY84

Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.

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