Business Context and Reporting Period
This Form 6-K filing by Lloyds Banking Group Plc is dated October 7, 2011. The document serves as a Regulatory News Service Announcement regarding a transaction by a Person Discharging Managerial Responsibilities (PDMR). It does not contain financial results for a specific reporting period.
Key Financial Metrics
The filing text does not provide data on revenue, profit, cash flow, margins, debt, or liquidity. The only financial figure disclosed is the share price used for a specific executive award:
- Share Price for Award: 33.45 pence per share.
Material Changes
The filing discloses a share buy-out award granted to Toby Strauss, a member of the Group Executive Committee. This award compensates for deferred share benefits forfeited due to his resignation from Aviva plc. The transaction involves no cash consideration payable for the grant.
Guidance, Outlook, and Risks
The filing contains no management commentary, forward-looking guidance, or discussion of risks and contingencies. The award is subject to vesting timetables contingent on the executive remaining in employment.
Important Facts for Investors
- Recipient: Toby Strauss (Group Executive Committee).
- Total Shares Awarded: 3,609,935 shares (sum of tranches).
- Vesting Schedule:
- 1,199,605 shares vesting in April 2012.
- 1,458,977 shares vesting in April 2013.
- 951,353 shares vesting in April 2014.
- Condition: Vesting is subject to the executive remaining in employment.
- Valuation Basis: Award calculated at 33.45 pence per share.