17 June 2016
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 Summary Remuneration Announcement published on 25 February 2016 and disclosures in the 2015 Annual Report and Accounts published on 8 March 2016. The 2015 Annual Report and Accounts is available on the 'Financial Performance' page in the 'Investors & Performance' section of the Group's website www.lloydsbankinggroup.com.
2015 Group Annual Bonus
The first tranche of bonus awards in respect of 2015 performance for members of the Group Executive Committee other than the Group Chief Executive and Executive Directors vests in June 2016. As already described in the Summary Remuneration Announcement, these awards are released in Shares based on the prevailing share price.
In this respect, the Group was notified on 17 June 2016 that, the PDMRs listed in the table below acquired on 17 June 2016, after the settlement of income tax liabilities and National Insurance contributions, the number of Shares as set out by their name. The Shares were acquired for nil consideration.
|
Name
|
Shares
|
|
Andrew Bester
|
56,111
|
|
Karin Cook
|
39,122
|
|
Antonio Lorenzo
|
98,131
|
|
Vim Maru
|
58,938
|
|
David Oldfield
|
51,229
|
|
Miguel-Ángel Rodríguez-Sola
|
55,197
|
|
Matt Young
|
72,797
|
The annual bonus awards for 2015 performance for António Horta-Osório, Juan Colombás and George Culmer are subject to deferral until at least March 2018 and accordingly do not vest in 2016.
Group Chief Executive Acquisition of Shares
As described in the Summary Remuneration Announcement, the Group Chief Executive's 4 per cent additional increase in base salary is delivered monthly in Shares and the Shares will be held until the Government has sold its shareholding in the Group.
In this respect, the Group was notified on 17 June 2016 that, after the settlement of income tax liabilities and National Insurance contributions, 2,920 Shares were acquired on 17 June 2016 on behalf of António Horta-Osório in respect of his June 2016 salary. The acquisition price was 64.698 pence per Share.
Fixed Share Awards
This announcement details the number of Shares acquired by PDMRs in respect of the second quarter of 2016 under the Group's Fixed Share Award, as described in the Summary Remuneration Announcement. In this respect, the Group was notified on 17 June 2016 that, after the settlement of income tax liabilities and National Insurance contributions, Shares were acquired on 17 June 2016 on behalf of the PDMRs as listed in the table below. The acquisition price was 64.698 pence per Share.
The Shares will be held on behalf of the PDMRs and will be released over five years, with 20 per cent being released each year on the anniversary of the award.
|
Name
|
Shares
|
|
António Horta-Osório
|
184,317
|
|
Juan Colombás
|
101,784
|
|
George Culmer
|
103,218
|
|
Andrew Bester
|
100,350
|
|
Karin Cook
|
83,147
|
|
Simon Davies
|
100,350
|
|
Antonio Lorenzo
|
110,672
|
|
Vim Maru
|
83,147
|
|
David Oldfield
|
93,182
|
|
Miguel-Ángel Rodríguez-Sola
|
83,864
|
|
Matt Young
|
71,679
|
These disclosures are made pursuant to the Financial Conduct Authority's Disclosure and Transparency Rule 3.1.4. The transactions took place in the UK and the Shares are listed on the London Stock Exchange.
ENQUIRIES:
Investor Relations
Douglas Radcliffe +44 (0) 20 7356 1571
Group Investor Relations Director
Email: douglas.radcliffe@finance.lloydsbanking.com
Group Corporate Affairs
Matt Smith +44 (0) 20 7356 3522
Head of Corporate Media
Email: matt.smith@lloydsbanking.com