1
|
Details of the person discharging managerial responsibilities /
person closely associated
|
||
a)
|
Name
|
Anil Wadhwani
|
|
2
|
Reason for the notification
|
||
a)
|
Position/status
|
Chief Executive Officer (PDMR)
|
|
b)
|
Initial notification /Amendment
|
Initial notification
|
|
3
|
Details of the issuer, emission allowance market participant,
auction platform or auctioneer
|
||
a)
|
Name
|
Prudential plc
|
|
b)
|
LEI
|
5493001Z3ZE83NGK8Y12
|
|
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
GB0007099541
|
|
b)
|
Nature of the transaction
|
Grant of share-based, cash-settled option
In line with the announcement made on 25 May 2022 Prudential plc
entered into an agreement on 8 March 2023 with Mr Wadhwani to
replace unvested awards forfeited as a consequence of joining
Prudential plc on 25 February 2023.
Under the agreement Mr Wadhwani has been granted an option
entitling him to receive a cash amount equal to the market value of
a specified number of Prudential plc ordinary shares on the date of
exercise, less an option price of HKD 0.48 (being the HKD
equivalent of 5 pence per share, using a 20-day average FX rate up
to the date Mr Wadhwani joined Prudential plc).
The option will vest on the dates detailed below:
|
|
Exercise
Period
|
Number
of notional Prudential plc shares
|
||
30 days commencing on the date the Remuneration Committee approves
the proportion of award to vest, which will be after the Manulife
2023 Circular is published (expected March 2024)
|
168,284
|
||
30 days commencing on the date the Remuneration Committee approves
the proportion of award to vest, which will be after the Manulife
2024 Circular is published (expected March 2025)
|
163,004
|
||
2 March 2024 to 31 March 2024
|
62,706
|
||
1 March 2025 to 30 March 2025
|
60,738
|
||
5 March 2024 to 3 April 2024
|
7,820
|
||
5 March 2025 to 3 April 2025
|
11,552
|
||
This replacement award has been made on a like-for-like basis, with
the option exercisable in accordance with the original vesting
timeframe which attached to the forfeited awards. Performance
conditions apply where these were attached to the original
awards.
This arrangement has been put in place in accordance with Rule
9.4.2 of the UK Listing Rules, which allows an individual scheme to
be put in place to assist with the recruitment of an executive
director, and is consistent with the Directors' Remuneration
Policy.
|
|||
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
Nil
|
474,104
|
||
d)
|
Aggregated information
- Aggregated volume
- Price
|
474,104
Nil
|
|
e)
|
Date of the transaction
|
2023-03-21
|
|
f)
|
Place of the transaction
|
London Stock Exchange
|
|
PRUDENTIAL
PUBLIC LIMITED COMPANY
|
|
|
|
By: /s/ Sylvia
Edwards
|
|
|
|
Sylvia Edwards
|
|
Deputy Group Secretary
|