Hiscox Ltd
(the 'Company')
Notification of transactions by Persons Discharging Managerial Responsibilities ('PDMR')
Hamilton, Bermuda - On 25 June 2024 options were granted, pursuant to the Hiscox UK Sharesave Plan, an "all-employee" share plan, to Aki Hussain, the Group Chief Executive Officer, to acquire 2,500 Ordinary Shares of 6.5p each in the Company ('Shares') with an exercise price of £7.20 per Share.
On 26 June 2024 awards in the form of nil-cost options over Shares were granted to the following Executive Directors under the Company's Performance Share Plan ('PSP') to correct a miscalculation in the PSP awards which were granted on 8 April 2024 ('Supplemental Awards'). The Supplemental Awards are subject to same vesting period and performance conditions as the original awards, with performance measured over the three financial years from 1 January 2024 to 31 December 2026 relating to growth in Net Asset Value (plus dividend and shareholder returns) and relative Total Shareholder Return. Further details in relation to the performance conditions will be included in the Directors' Remuneration Report for the 2024 financial year.
Details of the additional number of Shares over which PSP awards have been granted to each PDMR are set out in the table below.
| H A Hussain | 7,106
|
| Paul Cooper | 2,330
|
| J R Musselle | 2,330
|
Subject to the satisfaction of the performance conditions, awards will vest on 8 April 2027 and the Shares acquired will be subject to a two-year holding period.
The options and awards were granted in Bermuda.
The notifications set out below are made in accordance with the UK version of the EU Market Abuse Regulation (2014/596/EU) which is part of UK law by virtue of the European Union (Withdrawal) Act 2018.
Marc Wetherhill
Company Secretary
Hiscox Ltd
+ 1 441 278 8300
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 | Hamayou Akbar (Aki) Hussain | ||||||
| 2 | Reason for the notification | |||||||
| a) | Position/status | PDMR - 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 | Hiscox Ltd | ||||||
| b) | LEI | 5493007JXOLJ0QCY2D70
| ||||||
| 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 6.5 pence each
ISIN: BMG4593F1389
| ||||||
| b) | Nature of the transaction | Grant of option under the Hiscox UK Sharesave Plan with an exercise price of £7.20 per share
| ||||||
| c) | Price(s) and volume(s) |
| ||||||
| d) | Aggregated information - Aggregated volume - Price |
| ||||||
| e) | Date of the transaction | 2024-06-25
| ||||||
| f) | Place of the transaction | Outside a trading venue | ||||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Hamayou Akbar (Aki) Hussain | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| PDMR - 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
| Hiscox Ltd | ||||
| b)
| LEI
| 5493007JXOLJ0QCY2D70 | ||||
| 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 6.5p each
ISIN: BMG4593F1389
| ||||
| b)
| Nature of the transaction
| Grant of performance-based nil-cost option over shares under the Company's Performance Share Plan | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024-06-26 | ||||
| f)
| Place of the transaction
| Outside a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Paul Cooper | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| PDMR - Group 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
| Hiscox Ltd | ||||
| b)
| LEI
| 5493007JXOLJ0QCY2D70 | ||||
| 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 6.5p each
ISIN: BMG4593F1389
| ||||
| b)
| Nature of the transaction
| Grant of performance-based nil-cost option over shares under the Company's Performance Share Plan | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024-06-26 | ||||
| f)
| Place of the transaction
| Outside a trading venue | ||||
| 1
| Details of the person discharging managerial responsibilities / person closely associated
| |||||
| a)
| Name
| Joanne Musselle | ||||
| 2
| Reason for the notification
| |||||
| a)
| Position/status
| PDMR - Group Underwriting Officer | ||||
| b)
| Initial notification /Amendment | Initial notification | ||||
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
| a)
| Name
| Hiscox Ltd | ||||
| b)
| LEI
| 5493007JXOLJ0QCY2D70 | ||||
| 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 6.5p each
ISIN: BMG4593F1389
| ||||
| b)
| Nature of the transaction
| Grant of performance-based nil-cost option over shares under the Company's Performance Share Plan | ||||
| c)
| Price(s) and volume(s)
|
| ||||
| d)
| Aggregated information
- Aggregated volume
- Price
|
| ||||
| e)
| Date of the transaction
| 2024-06-26 | ||||
| f)
| Place of the transaction
| Outside a trading venue | ||||
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