M&G PLC recently announced the vesting of awards under the M&G plc Deferred Incentive Plan (DIP) and the M&G plc Performance Share Plan (PSP) for two of its key executives, Louise Shield and Matthew Howells. On 31 March 2024, Recruitment Awards granted in March 2023 to Louise Shield vested, subject to subsequent holding periods. On 1 April 2024, an Award granted in April 2021 to Matthew Howells vested, subject to a subsequent two-year holding period.
Matthew Howells, the Chief People Officer, had 250,964 shares vested under the PSP, with a holding period ending on 1 April 2026. Louise Shield, the Corporate Affairs Director, had various shares vested under both the DIP and PSP, with holding periods ending between 31 March 2025 and 31 March 2027. The PSP awards for both executives were subject to performance conditions.
The notification of these transactions was made in accordance with the requirements of the Market Abuse Regulation. The contact persons for further details are Christopher Smyth, Director of Secretariat, and Sharna Ludlow, Head of Share Plans and Share Registration.
The transactions involved the vesting of ordinary shares of 5 pence each, with a nil-cost option award under the PSP for Matthew Howells and conditional awards under the DIP and nil-cost option awards under the PSP for Louise Shield. The transactions took place outside a trading venue on 1 April 2024 for Matthew Howells and on 31 March 2024 for Louise Shield.
This notification provides insight into the vesting of shares for key executives at M&G PLC, shedding light on the company's compensation and incentive plans for its leadership team.