24 March 2023
AVIVA PLC ("Aviva")
NOTIFICATION OF TRANSACTIONS OF DIRECTORS AND PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ("PDMRs")
Aviva announces:
Aviva Annual Bonus Plan ("ABP"), Aviva Long Term Incentive Plan ("LTIP") and Aviva Recruitment and Retention Share Award Plan ("RRSAP")
On 23 March 2023, in London, and in line with the normal timetable, the following PDMRs received Aviva ordinary shares of 3217/19 pence each ("Shares") following the vesting of awards:
· Granted in 2020, 2021 and 2022 under the ABP.
· Granted in 2020 under the LTIP. Prior to joining the Executive Committee, certain PDMRs were granted Restricted Stock Unit ("RSU") awards. The RSU awards granted to Mark Versey have personal performance conditions aligned with CRD IV requirements.
· In line with the 2021 Remuneration Policy, LTIP awards granted to Executive Directors are subject to a further two-year holding period following the sale to cover taxes.
· As disclosed in the Aviva Annual Report, published on 9 March 2023, the LTIP awards vested in accordance with the rules of the plan and following performance testing.
· In 2021, Douglas Brown and Adam Winslow had awards granted under the RRSAP to replace, on a like for like basis, deferred compensation forfeited on resignation from their previous employers.
| Name | ABP or LTIP/RSU or RRSAP | Price at which shares granted (pence) | Shares received from ABP, LTIP or RRSAP awards | No. of shares sold | Release price (pence) |
| Amanda Blanc | LTIP ABP (2021) ABP (2022) | 229p 395p 424p | 538,864 36,823 98,024 | - - - | 416.00p 416.00p 416.00p |
| Douglas Brown | ABP (2022) RRSAP | 424p 409p | 33,303 85,213 | - - | 416.00p 416.00p |
| Kirstine Cooper | LTIP ABP (2020) ABP (2021) ABP (2022) | 229p 229p 395p 424p | 366,574 29,812 16,638 20,814 | - - - - | 416.00p 416.00p 416.00p 416.00p |
| Jason Storah | RSU ABP (2020) ABP (2021) ABP (2022) | 229p 229p 395p 424p | 143,583 21,270 13,596 24,262 | - - - - | 416.00p 416.00p 416.00p 416.00p |
| Mark Versey | RSU ABP (2022) | 229p 424p | 50,786 32,314 | - - | 416.00p 416.00p |
| Adam Winslow | ABP (2022) RRSAP | 424p 328p | 30,388 212,483 | - - | 416.00p 416.00p |
· The releases under the ABP, LTIP and RRSAP include additional Shares received in lieu of dividends, which are subject to tax. The awards have been settled on a net-of-tax basis.
This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014 (as incorporated into UK domestic law by the European Union (Withdrawal) Act 2018).
Aviva was notified of the above transactions on 23 March 2023.
Media Enquiries:
Andrew Reid +44 (0) 7800 694276
General Enquiries:
Kate Graham, Company Secretarial +44 (0) 7385 405380
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | AMANDA BLANC | |
| 2 | Reason for the notification | ||
| a) | Position/status | GROUP 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 | 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
- GB00BPQY8M80 | |
| b) | Nature of transaction | 1. VESTING OF 673,711 SHARES UNDER THE LTIP 2020 AND ABP 2021, 2022.
2. 322,369 SHARES WITHHELD TO COVER TAX, LEAVING BALANCE OF 351,342 SHARES RETAINED.
| |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | 1. £4.16
2. £4.16 | 1. 673,711
2. 322,369
|
| d) | Aggregated information - Aggregated volume - Price
| 1. £2,802,637.76
2. £1,341,055.04
| 1. 673,711
2. 322,369
|
| e) | Date of the transaction | 2023-03-23 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | DOUGLAS BROWN | |
| 2 | Reason for the notification | ||
| a) | Position/status | CHIEF EXECUTIVE OFFICER, UK & IRELAND LIFE | |
| 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
- GB00BPQY8M80 | |
| b) | Nature of transaction | 1. VESTING OF 118,516 SHARES UNDER THE ABP 2022 AND RRSAP.
2. 55,843 SHARES WITHHELD TO COVER TAX LEAVING BALANCE OF 62,673 SHARES RETAINED.
| |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | 1. £4.16
2. £4.16 | 1. 118,516
2. 55,843
|
| d) | Aggregated information - Aggregated volume - Price
| 1. £493,026.56
2. £232,306.88 | 1. 118,516
2. 55,843
|
| e) | Date of the transaction | 2023-03-23 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | KIRSTINE COOPER | |
| 2 | Reason for the notification | ||
| a) | Position/status | GROUP GENERAL COUNSEL 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 | 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
- GB00BPQY8M80 | |
| b) | Nature of transaction | 1. VESTING OF 433,838 SHARES UNDER THE LTIP 2020, ABP 2020, 2021 AND 2022.
2. 204,416 SHARES WITHHELD TO COVER TAX LEAVING BALANCE OF 229,422 SHARES RETAINED.
| |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | 1. £4.16
2. £4.16 | 1. 433,838
2. 204,416
|
| d) | Aggregated information - Aggregated volume - Price
| 1. £1,804,766.08
2. £850,370.56 | 1. 433,838
2. 204,416 |
| e) | Date of the transaction | 2023-03-23 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | JASON STORAH | |
| 2 | Reason for the notification | ||
| a) | Position/status | CHIEF EXECUTIVE OFFICER, AVIVA CANADA | |
| 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
- GB00BPQY8M80 | |
| b) | Nature of transaction | 1. VESTING OF 202,711 SHARES UNDER THE LTIP 2020, ABP 2020, 2021 AND 2022.
2. 108,785 SHARES WITHHELD TO COVER TAX LEAVING BALANCE OF 93,926 SHARES RETAINED.
| |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | 1. £4.16
2. £4.16 | 1. 202,711
2. 108,785
|
| d) | Aggregated information - Aggregated volume - Price
| 1. £843,277.76
2. £452,545.60 | 1. 202,711
2. 108,785 |
| e) | Date of the transaction | 2023-03-23 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | MARK VERSEY | |
| 2 | Reason for the notification | ||
| a) | Position/status | CEO OF AVIVA INVESTORS | |
| 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
- GB00BPQY8M80 | |
| b) | Nature of transaction | 1. VESTING OF 83,100 SHARES UNDER THE LTIP 2020 AND ABP 2022.
2. 39,156 SHARES WITHHELD TO COVER TAX LEAVING BALANCE OF 43,944 SHARES RETAINED.
| |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | 1. £4.16
2. £4.16 | 1. 83,100
2. 39,156
|
| d) | Aggregated information - Aggregated volume - Price
| 1. £345,696.00
2. £162,888.96 | 1. 83,100
2. 39,156 |
| e) | Date of the transaction | 2023-03-23 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON | |
| 1 | Details of the person discharging managerial responsibilities/person closely associated | ||
| a) | Name | ADAM WINSLOW | |
| 2 | Reason for the notification | ||
| a) | Position/status | CEO OF AVIVA UK & IRELAND GENERAL INSURANCE | |
| 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
- GB00BPQY8M80 | |
| b) | Nature of transaction | 1. VESTING OF 242,871 SHARES UNDER THE ABP 2022 AND RRSAP.
2. 114,435 SHARES WITHHELD TO COVER TAX LEAVING BALANCE OF 128,436 SHARES RETAINED.
| |
| c) | Price(s) and volume(s) | Price(s) | Volume(s) |
| | | 1. £4.16
2. £4.16 | 1. 242,871
2. 114,435
|
| d) | Aggregated information - Aggregated volume - Price
| 1. £1,010,343.36
2. £476,049.60 | 1. 242,871
2. 114,435 |
| e) | Date of the transaction | 2023-03-23 | |
| f) | Place of the transaction | LONDON STOCK EXCHANGE, XLON | |
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