M&G plc NEWS RELEASE
1 April 2025
M&G plc
Notification of transactions by Persons Discharging Managerial Responsibilities (PDMRs)
Vest of awards under the M&G plc Deferred Incentive Plan (DIP) and the M&G plc Performance Share Plan (PSP)
Vest and release of shares
On 31 March 2025, recruitment awards granted in 2023 to Joseph Pinto and Louise Shield vested and were subsequently released to them. One of the awards that vested and was released to Ms. Shield was subject to performance conditions.
For all awards released to the PDMRs on 31 March 2025, sufficient shares were sold to cover the PDMRs' tax liabilities and sales costs, with the balance of shares retained by the PDMRs.
| Name | Number of shares vested and released under the DIP | Number of shares sold to cover tax liabilities and sales costs in relation to the DIP |
| Number of shares vested under the PSP | Number of shares sold to cover tax liabilities and sales costs in relation to the PSP |
| Joseph Pinto | n/a | n/a | | 109,007 | 51,389 |
| Louise Shield | 32,886 | 15,504 | | 50,129 | 23,632 |
Vest into a holding period
The following awards have vested and will be held gross of tax until the end of their respective post-vest holding periods.
On 31 March 2025, a recruitment award granted to Ms. Shield in 2023 under the DIP entered a one-year holding period ending on 31 March 2026.
On 1 April 2025, DIP awards granted to Mr. Howells and Mr. Pinto on 1 April 2025 vested and entered into a 6-month holding period; context for this is included under the awards section below.
Additionally, on 1 April 2025, a nil-cost option PSP award granted to Matt Howells in 2022 entered a two-year holding period ending on 1 April 2027. The award that vested into a post-vest holding period for Mr. Howells was subject to performance conditions.
| Name | Number of shares vested and entered into a holding period under the DIP |
| Number of shares vested and entered into a holding period under the PSP |
| Matthew Howells | 39,998 | | 215,154 |
| Joseph Pinto | 59,023 | | n/a |
| Louise Shield | 15,654 | | n/a |
Grant of awards under the DIP
On 1 April 2025, the Company granted deferred bonus short-term incentive (STI) awards to the PDMRs set out below, under the DIP. The DIP awards granted represent a deferred proportion of the PDMRs' annual STI, granted as conditional awards over shares which are due to vest in April 2028. The DIP awards have been made using the average market share price for the three days preceding the award date, of £2.025.
For the 2024 performance year, Mr. Howells and Mr. Pinto were each identified as a Material Risk Taker under the Undertakings for Collective Investment in Transferrable Securities Directive V and the Alternative Investment Fund Managers Directive remuneration regulations. In order to meet these regulatory requirements, a portion of their up-front STI annual award has been delivered in M&G plc shares under the DIP with an immediate vest date and a six-month holding period, as well as a six-month holding period applying post-vesting to their DIP award due to vest in April 2028.
Grant of awards under the PSP
On 1 April 2025, the Company granted nil-cost option PSP awards to the PDMRs set out below. The PSP awards granted are subject to the achievement of performance conditions over a three-year period (with the exception of the award made to Shawn Gamble to which performance conditions do not apply), and a subsequent two-year holding period. The PSP awards have been made using the average market share price for the three days preceding the award date, of £2.025.
Awards summary table
The below table summarises the above awards for each PDMR:
| Name | Number of shares awarded as conditional awards under the DIP | Number of shares awarded as nil-cost options under the PSP |
| Clive Bolton | 94,437 | 370,370 |
| Christopher Cochrane | 37,043 | 314,814 |
| Shawn Gamble | 157,037 | 417,776 |
| Charlotte Heiss | 82,329 | 296,296 |
| Matt Howells | 106,661 | 365,925 |
| Benoît Macé | 92,338 | 348,148 |
| Kathryn McLeland | 228,147 | 670,000 |
| Joseph Pinto | 157,395 | 577,777 |
| Andrea Rossi | 382,558 | 1,123,456 |
| Louise Shield | 88,787 | 296,296 |
The notification below, which has been made in accordance with the requirements of the Market Abuse Regulation, provides further detail.
Contact
Christopher Smyth, Director of Secretariat - 020 8162 0527
Sharna Ludlow, Head of Share Plans and Share Registration - 020 8162 0611
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Clive Bolton | |||||||||
| 2 | Reason for the notification | ||||||||||
| a) | Position/status | Chief Executive Officer, M&G Life | |||||||||
| b) | Initial notification/Amendment | Initial notification | |||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | M&G plc | |||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
| 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 5 pence each
| |||||||||
| b) | Nature of the transaction | a. Award granted under the DIP to vest and be released in April 2028 b. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 | |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
464,807
£2.025 | |||||||||
| e) | Date of the transaction | 2025-04-01 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Christopher Cochrane | |||||||||
| 2 | Reason for the notification | ||||||||||
| a) | Position/status | Chief Information Technology Officer | |||||||||
| b) | Initial notification/Amendment | Initial notification | |||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | M&G plc | |||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
| 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 5 pence each
| |||||||||
| b) | Nature of the transaction | a. Award granted under the DIP to vest and be released in April 2028 b. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 | |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
351,857
£2.025 | |||||||||
| e) | Date of the transaction | 2025-04-01 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a) | Name | Shawn Gamble | ||||||||||||
| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | Group Chief Risk and Compliance Officer | ||||||||||||
| b) | Initial notification/Amendment | Initial notification | ||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Name | M&G plc | ||||||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | ||||||||||||
| 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 5 pence each
| ||||||||||||
| b) | Nature of the transaction | a. Award granted under the DIP due to vest in April 2028 b. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 c. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 | ||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
574,813
£2.025 | ||||||||||||
| e) | Date of the transaction | 2025-04-01 | ||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||
|
| | | ||||||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a) | Name | Charlotte Heiss | ||||||||||||
| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | Group General Counsel & 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 | M&G plc | ||||||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | ||||||||||||
| 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 5 pence each
| ||||||||||||
| b) | Nature of the transaction | a. Award granted under the DIP to vest and be released in April 2028 b. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 | ||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
378,625
£2.025 | ||||||||||||
| e) | Date of the transaction | 2025-04-01 | ||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a) | Name | Matt Howells | ||||||||||||
| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | Chief People Officer | ||||||||||||
| b) | Initial notification/Amendment | Initial notification | ||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Name | M&G plc | ||||||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | ||||||||||||
| 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 5 pence each
| ||||||||||||
| b) | Nature of the transaction | a. Award granted under the DIP due to vest immediately into a subsequent six-month holding period until October 2025 b. Award granted under the DIP to vest in April 2028 with a subsequent six-month holding period until October 2028 c. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 | ||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
512,584
£2.025 | ||||||||||||
| e) | Date of the transaction | 2025-04-01 | ||||||||||||
| 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 5 pence each
| ||||||||||||
| b) | Nature of the transaction | a. Vesting of conditional award under the DIP into six-month holding period until October 2025 b. Vesting of nil-cost option award under the PSP into a two-year holding period until April 2027 | ||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
255,152
Nil | ||||||||||||
| e) | Date of the transaction | 2025-04-01 | ||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Benoît Macé | |||||||||
| 2 | Reason for the notification | ||||||||||
| a) | Position/status | Chief Strategy and Transformation Officer | |||||||||
| b) | Initial notification/Amendment | Initial notification | |||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||
| a) | Name | M&G plc | |||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
| 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 5 pence each
| |||||||||
| b) | Nature of the transaction | a. Award granted under the DIP to vest and be released in April 2028 b. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 | |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
440,486
£2.025 | |||||||||
| e) | Date of the transaction | 2025-04-01 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Kathryn McLeland | |||||||||
| 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 | M&G plc | |||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
| 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 5 pence each
| |||||||||
| b) | Nature of the transaction | a. Award granted under the DIP to vest and be released in April 2028 b. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 | |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| | Aggregated information
-Aggregated volume
-Price |
898,147
£2.025 | |||||||||
| | Date of the transaction | 2025-04-01 | |||||||||
| | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | |||||||||||||
| a) | Name | Joseph Pinto | ||||||||||||
| 2 | Reason for the notification | |||||||||||||
| a) | Position/status | Chief Executive, Asset Management | ||||||||||||
| b) | Initial notification/Amendment | Initial notification | ||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||||||||||
| a) | Name | M&G plc | ||||||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | ||||||||||||
| 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 5 pence each
| ||||||||||||
| b) | Nature of the transaction | a. Vesting of a nil-cost option PSP award granted in March 2023 b. Vesting of a nil-cost option PSP award granted in October 2023 | ||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
109,007
Nil | ||||||||||||
| e) | Date of the transaction | 2025-03-31 | ||||||||||||
| 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 5 pence each
| ||||||||||||
| b) | Nature of the transaction | a. Sale of shares to cover applicable withholding tax and other deductions arising from the release of nil-cost options under the PSP b. Sale of shares to cover applicable withholding tax and other deductions arising from the release of nil-cost options under the PSP | ||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
51,389
£1.9898 | ||||||||||||
| e) | Date of the transaction | 2025-03-31 | ||||||||||||
| f) | Place of the transaction | XLON | ||||||||||||
| 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 5 pence each
| ||||||||||||
| b) | Nature of the transaction | a. Award granted under the DIP due to vest immediately into a subsequent six-month holding period until October 2025 b. Award granted under the DIP to vest in April 2028 with a subsequent six-month holding period until October 2028 c. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 | ||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
794,195
£2.025 | ||||||||||||
| e) | Date of the transaction | 2025-04-01 | ||||||||||||
| 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 5 pence each
| ||||||||||||
| b) | Nature of the transaction | Vesting of conditional award under the DIP into six-month holding period until October 2025 | ||||||||||||
| c) | Price(s) and volume(s) |
| ||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
59,023
Nil | ||||||||||||
| e) | Date of the transaction | 2025-04-01 | ||||||||||||
| f) | Place of the transaction | Outside a trading venue | ||||||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||
| a) | Name | Andrea Rossi | |||||||||
| 2 | Reason for the notification | ||||||||||
| a) | Position/status | 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 | M&G plc | |||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||
| 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 5 pence each
| |||||||||
| b) | Nature of the transaction | a. Award granted under the DIP to vest and be released in April 2028 b. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030 | |||||||||
| c) | Price(s) and volume(s) |
| |||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
1,506,014
£2.025 | |||||||||
| e) | Date of the transaction | 2025-04-01 | |||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||
| 1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||||||||||||
| a) | Name | Louise Shield | |||||||||||||||
| 2 | Reason for the notification | ||||||||||||||||
| a) | Position/status | Corporate Affairs Director | |||||||||||||||
| b) | Initial notification/Amendment | Initial notification | |||||||||||||||
| 3 | Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||||||||||||
| a) | Name | M&G plc | |||||||||||||||
| b) | LEI | 254900TWUJUQ44TQJY84 | |||||||||||||||
| 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 5 pence each
| |||||||||||||||
| b) | Nature of the transaction | a. Release of a DIP conditional award following the end of a post-vest holding period b. Vesting and release of conditional awards under the DIP c. Release of a PSP nil-cost option award following the end of a post-vest holding period d. Vesting of a PSP nil-cost option award into a one-year holding period | |||||||||||||||
| c) | Price(s) and volume(s) |
| |||||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
98,669
Nil | |||||||||||||||
| e) | Date of the transaction | 2025-03-31 | |||||||||||||||
| 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 5 pence each
| |||||||||||||||
| b) | Nature of the transaction | a. Sale of shares to cover applicable withholding tax and other deductions arising from the release of conditional awards under the DIP following the end of a post-vest holding period b. Sale of shares to cover applicable withholding tax and other deductions arising from the release of conditional awards under the DIP c. Sale of shares to cover applicable withholding tax and other deductions arising from the release of nil-cost options under the PSP | |||||||||||||||
| c) | Price(s) and volume(s) |
| |||||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
39,136
£1.9898 | |||||||||||||||
| e) | Date of the transaction | 2025-03-31 | |||||||||||||||
| f) | Place of the transaction | XLON | |||||||||||||||
| 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 5 pence each
| |||||||||||||||
| b) | Nature of the transaction | a. Award granted under the DIP to vest and be released in April 2028 b. Award granted under the PSP due to vest in April 2028, subject to the achievement of performance conditions, with a subsequent two-year holding period until April 2030
| |||||||||||||||
| c) | Price(s) and volume(s) |
| |||||||||||||||
| d) | Aggregated information
-Aggregated volume
-Price |
385,083
£2.025 | |||||||||||||||
| e) | Date of the transaction | 2025-04-01 | |||||||||||||||
| f) | Place of the transaction | Outside a trading venue | |||||||||||||||
LEI: 254900TWUJUQ44TQJY84
Classification: 2.2 Information disclosed under article 19 of the Market Abuse Regulation.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.