Business Context and Reporting Period
This Form 6-K filing by Lloyds Banking Group plc, dated July 1, 2020, reports on the status of various employee share incentive schemes. The reporting period covers the six months from January 1, 2020, to June 30, 2020. The document serves as a regulatory update regarding block listing returns for unallotted securities under specific plans.
Key Financial Metrics
The filing does not provide financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. It exclusively details the movement of unallotted securities within six distinct employee share schemes.
Share Scheme Activity (Jan 1 – Jun 30, 2020)
| Scheme Name | Opening Balance | Increase | Issued/Allotted | Closing Balance |
|---|---|---|---|---|
| Lloyds Banking Group Sharesave Scheme 2007 | 323,096,117 | 0 | 254,420,073 | 68,676,044 |
| Lloyds Banking Group plc Sharesave Scheme 2017 | 10,058,307 | 0 | 1,286,590 | 8,771,717 |
| Lloyds Banking Group plc Deferred Bonus Plan 2008 | 46,490,589 | 270,000,000 | 316,000,000 | 490,589 |
| Lloyds Banking Group Share Incentive Plan | 62,252,718 | 105,000,000 | 90,186,718 | 77,066,000 |
| Lloyds Banking Group Long-Term Incentive Plan 2006 | 624,919 | 0 | 0 | 0 |
| Group Ownership Share Plan | 485,000 | 50,000,000 | 47,728,877 | 2,756,123 |
Material Changes
- Deferred Bonus Plan 2008: The plan received a significant increase of 270,000,000 shares but issued 316,000,000 shares, reducing the unallotted balance to less than 500,000.
- Share Incentive Plan: The unallotted balance increased by approximately 15 million shares due to a 105 million share increase against 90 million issued.
- Long-Term Incentive Plan 2006: The plan reached a zero balance, and the filing explicitly states that no further awards will be made under this plan.
- Group Ownership Share Plan: The plan was replenished with 50 million shares, with the majority (47.7 million) issued during the period.
Guidance, Outlook, and Risks
The filing contains no management commentary, financial guidance, outlook, or discussion of risks and contingencies. The only forward-looking statement is the confirmation that the Long-Term Incentive Plan 2006 will cease making further awards.
Key Facts for Investor Verification
- Verify the total number of shares issued under the Deferred Bonus Plan 2008 (316 million) to assess potential dilution impact.
- Confirm the cessation of the Long-Term Incentive Plan 2006 and its implications for future executive compensation structures.
- Review the remaining unallotted balances in the Sharesave Schemes (approx. 77 million total) to understand future issuance capacity.
- Note that this filing does not contain financial results; investors should refer to the company's interim financial report for revenue and profit data.