22 June 2023
LLOYDS BANKING GROUP PLC ('GROUP') - NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ORDINARY SHARES OF THE GROUP OF 10 PENCE EACH ('SHARES')
This announcement should be read in conjunction with the disclosures in the 2022 Annual Report and Accounts published on 22 February 2023. The 2022 Annual Report and Accounts is available on the 'Financial downloads' page in the 'Investors' section of the Group's website www.lloydsbankinggroup.com.
Fixed Share Awards
This announcement details the number of Shares acquired by PDMRs in respect of the second quarter of 2023 under the Group's Fixed Share Award. In this respect, the PDMRs listed in the table below acquired on 21 June 2023, after the settlement of income tax and national insurance contributions, the number of Shares set out by their name below. The acquisition price was 44.145 pence per Share.
The Shares will be held on behalf of the PDMRs and will be released over a three year period, with one-third being released each year on 21 June.
| Name | Shares |
| Charlie Nunn William Chalmers | 315,154 151,274 |
Buyout awards for Chirantan Barua and Ron van Kemenade
Chirantan Barua and Ron van Kemenade joined the Group in Q2 2023. It was agreed that on appointment they would be granted deferred cash and deferred share awards to replace unvested awards from their previous employers that have been forfeited as a result of them joining the Group. The awards granted match the vesting and retention periods applying to the awards being forfeited.
As a number of Ron's awards would have already vested at the time he joined they have immediately vested on grant. In this respect, the Group announces that, after settlement of income tax and national insurance, 28,141 Shares were released to Ron which be subject to a retention period until May 2027.
The awards were granted in accordance with the regulatory requirements for buyouts to which the Group is subject, as detailed in the PRA Rulebook and corresponding FCA requirements.
In addition, Chirantan was granted a 'lost opportunity' bonus award for the loss of his bonus award from HSBC for the 2022 performance year. The award will mirror the Group deferral schedule and after settlement of income tax and national insurance, 204,234 Shares for the March 2023 element were released to Chirantan on 21 June 2023, subject to a retention period until March 2024.
Exercise of options to acquire Shares
Sharon Doherty acquired 3,136,483 Shares, following the exercise of a share buyout award (for nil consideration) on 21 June 2023. The details of the share buyout award, to replace forfeited awards from Sharon's previous employer, were announced in September 2022 at the time of the award. Sharon retained all the Shares apart from 1,474,377 Shares, which were sold at a price of 44.035 pence per Share to cover income tax and national insurance contributions.
John Winter acquired 338,604 Shares, following the exercise of a share buyout award (for nil consideration) on 21 June 2023. The details of the share buyout award, to replace forfeited awards from John's previous employer, were announced in March 2023 at the time of the award. John retained all the Shares apart from 159,374 Shares, which were sold at a price of 44.035 pence per Share to cover income tax and national insurance contributions. The shares will be subject to a retention period of 12 months.
ENQUIRIES:
| Investor Relations Douglas Radcliffe Group Investor Relations Director Email: douglas.radcliffe@lloydsbanking.com
Group Corporate Affairs Matt Smith Head of Media Relations Email: matt.smith@lloydsbanking.com |
+44 (0) 20 7356 1571
+44 (0) 20 7356 3522 |
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a) | Name
| Charlie Nunn
| |||
| 2 | Reason for the notification
| ||||
| a) | Position/status
| Group Chief Executive | |||
| b) | Initial notification / Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a) | Name
| Lloyds Banking Group plc | |||
| b) | LEI
| 549300PPXHEU2JF0AM85
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Acquisition of Shares - In respect of the second quarter of 2023 under the Group's Fixed Share Award. | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.44145 | 315,154
| | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a) | Name
| William Chalmers
| |||
| 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
| Lloyds Banking Group plc | |||
| b) | LEI
| 549300PPXHEU2JF0AM85
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Acquisition of Shares - In respect of the second quarter of 2023 under the Group's Fixed Share Award. | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.44145 | 151,274 | | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a) | Name
| Chirantan Barua
| |||
| 2 | Reason for the notification
| ||||
| a) | Position/status
| Chief Executive Officer, Insurance, Pensions & Investments
| |||
| b) | Initial notification / Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a) | Name
| Lloyds Banking Group plc | |||
| b) | LEI
| 549300PPXHEU2JF0AM85
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Grant of awards under the Group's Deferred Bonus Plan 2021 in the form of nil-priced options and/or conditional awards | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.0000 | 2,868,033 | | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | Outside a trading venue
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Acquisition of shares following the vesting of awards under the Group's Deferred Bonus Plan 2021 | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.0000 | 204,234 | | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | Outside a trading venue
| |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a) | Name
| Ron van Kemenade | |||
| 2 | Reason for the notification
| ||||
| a) | Position/status
| Group 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
| Lloyds Banking Group plc | |||
| b) | LEI
| 549300PPXHEU2JF0AM85
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Grant of awards under the Group's Deferred Bonus Plan 2021 in the form of nil-priced options and/or conditional awards | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.0000 | 935,305 | | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | Outside a trading venue
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Acquisition of shares following the vesting of awards under the Group's Deferred Bonus Plan 2021 | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.0000 | 28,141 | | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | Outside a trading venue
| |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a) | Name
| Sharon Doherty | |||
| 2 | Reason for the notification
| ||||
| a) | Position/status
| Chief People & Places Officer
| |||
| b) | Initial notification / Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a) | Name
| Lloyds Banking Group plc | |||
| b) | LEI
| 549300PPXHEU2JF0AM85
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Acquisition of Shares following the exercise of a share award. | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.00 | 3,136,483 | | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | Outside a trading venue
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Disposal of Shares acquired following the exercise of a share award to meet income tax and NICs due. | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.44035 | 1,474,377 | | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
| 1 | Details of the person discharging managerial responsibilities / person closely associated
| ||||
| a) | Name
| John Winters | |||
| 2 | Reason for the notification
| ||||
| a) | Position/status
| Chief Executive Officer, Corporate & Institutional Banking
| |||
| b) | Initial notification / Amendment
| Initial notification | |||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
| ||||
| a) | Name
| Lloyds Banking Group plc | |||
| b) | LEI
| 549300PPXHEU2JF0AM85
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Acquisition of Shares following the exercise of a share award. | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.00 | 338,604 | | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | Outside a trading venue
| |||
| 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 10p each
GB0008706128 | |||
| b) | Nature of the transaction
| Disposal of Shares acquired following the exercise of a share award to meet income tax and NICs due. | |||
| c) | Price(s) and volume(s) | | | | |
| | | Price(s)
| Volume(s) | | |
| | | GBP00.44035 | 159,374 | | |
| | | | | | |
| d) | Aggregated information
- Aggregated volume
- Price
|
N/A (single transaction)
| |||
| e) | Date of the transaction
| 2023-06-21 | |||
| f) | Place of the transaction | London Stock Exchange (XLON) | |||
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