7 March 2014
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")
Deferred bonus awards for 2010, 2011 and 2012 performance
As previously announced, the deferred bonus awards for 2010, 2011 and 2012 performance vest in tranches over the period September 2011 to September 2016 and are released in Shares.
In this respect, the Group announces that on 7 March 2014, after the settlement of income tax and national insurance contributions, the PDMRs listed in the table below received the number of Shares as set out by their name. The Shares were acquired for nil consideration.
|
Name
|
Shares
|
|
Andrew Bester
|
75,268
|
|
Alison Brittain
|
278,256
|
|
Juan Colombás
|
231,604
|
|
Mark Fisher
|
265,415
|
|
António Lorenzo
|
244,398
|
|
David Nicholson
|
13,103
|
|
Miguel-Ángel Rodríguez-Sola
|
160,641
|
|
Toby Strauss
|
104,643
|
|
Matt Young
|
99,394
|
Mr Horta-Osório waived his right to be considered for a bonus in 2011. His conditional bonus award for 2012 performance is subject to deferral for five years and accordingly does not vest in 2014.
Long-term awards made in March 2011
The Group further announces that on 7 March 2014, after the settlement of income tax and national insurance contributions, the PDMRs listed in the table below received the number of Shares as set out by their name, following the partial vesting of long-term awards made in March 2011.
|
Name
|
Shares
|
|
António Horta-Osório
|
2,043,736
|
|
Juan Colombás
|
881,940
|
|
Alison Brittain
|
802,598
|
|
Mark Fisher
|
1,037,415
|
|
António Lorenzo
|
902,578
|
|
David Nicholson
|
139,651
|
|
Miguel-Ángel Rodríguez-Sola
|
319,863
|
|
Matt Young
|
481,559
|
Exercise of share buy out award
On 7 March 2014, the Group was notified that Alison Brittain, a PDMR, had exercised on the same day a share buy out award over 1,167,665 Shares for a total consideration of £5 and sold 550,306 Shares at a price of 81.53 pence per Share to meet income tax and national insurance contributions.
The award was granted in September 2011 for the loss of deferred share benefits forfeited as a result of her resignation from the Santander Group. The value of the award at grant was £357,889 based on a share price of 30.65 pence on 5 September 2011, the date she joined the Group.
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
Head of Operations & Reporting
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