REG - M&G PLC - Director/PDMR Shareholding
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RNS Number : 3179Z M&G PLC 02 April 2026
M&G plc NEWS RELEASE
2 April 2026
M&G plc
Notification of transactions by Persons Discharging Managerial
Responsibilities (PDMRs)
Vest of awards under the M&G Deferred Incentive Plan 2019 (DIP) and the
M&G Performance Share Plan 2019 (PSP)
Vest and release of shares
On 31 March 2026, time vesting and recruitment awards granted in 2023 to
certain PDMRs vested and were subsequently released to them with sufficient
shares sold to cover the PDMR's tax liabilities and sale costs, with the
balance of shares retained by the PDMRs. Of these, a recruitment award granted
to Clive Bolton was subject to performance conditions.
This is summarised in the following table.
Name Number of shares vested and released under the DIP Number of shares sold to cover tax liabilities and sales costs in relation to Number of shares vested under the PSP Number of shares sold to cover tax liabilities and sales costs in relation to
the DIP the PSP
Clive Bolton n/a n/a 103,748 48,915
Christopher Cochrane 31,624 14,905 120,202 56,652
Matthew Howells 86,630 40,853 n/a n/a
Kathryn McLeland 146,151 68,884 n/a n/a
Joseph Pinto 237,695 111,996 n/a n/a
Andrea Rossi 85,061 40,114 n/a n/a
Louise Shield 85,009 40,051 133,557 62,923
Release of shares following the end of a holding period
On 31 March 2026, the following awards were released to Ms. Gamble and Ms.
Shield further to the completion of their respective post-vest holding
periods. Sufficient shares were sold to cover the PDMRs' tax liabilities and
sales costs, with the balance of shares retained by the PDMRs, as shown in the
following table:
Name Number of shares vested and released under the DIP Number of shares sold to cover tax liabilities and sales costs in relation to Number of shares vested under the PSP Number of shares sold to cover tax liabilities and sales costs in relation to
the DIP the PSP
Shawn Gamble 62,507 29,483 n/a n/a
Louise Shield 17,066 8,040 50,129 23,618
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 2026, a recruitment award granted to Ms. Shield in 2023 entered a
one-year holding period ending on 31 March 2027. Additionally, awards granted
in 2023 to Mr. Howells, Ms. McLeland, Mr. Pinto and Mr. Rossi which were
subject to performance conditions each entered a two-year holding period
ending on 31 March 2028.
This is summarised in the following table:
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 n/a 264,546
Kathryn McLeland n/a 484,542
Joseph Pinto n/a 417,707
Andrea Rossi n/a 812,214
Louise Shield 11,414 n/a
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction Vest of a nil-cost option PSP award granted in 2023
c) Price(s) and volume(s) Price (s) Volume (s)
Nil 103,748
d) Aggregated information
-Aggregated volume 103,748
-Price Nil
e) Date of the transaction 2026-03-31
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction Sale of shares to cover applicable withholding and other deductions arising
from the exercise and release of a nil-cost option award under the PSP
c) Price(s) and volume(s) Price (s) Volume (s)
£2.7707 48,915
d) Aggregated information
-Aggregated volume 48,915
-Price £2.7707
e) Date of the transaction 2026-03-31
f) Place of the transaction XLON
d)
Aggregated information
-Aggregated volume
-Price
103,748
Nil
e)
Date of the transaction
2026-03-31
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
GB00BKFB1C65
b)
Nature of the transaction
Sale of shares to cover applicable withholding and other deductions arising
from the exercise and release of a nil-cost option award under the PSP
c)
Price(s) and volume(s)
Price (s) Volume (s)
£2.7707 48,915
d)
Aggregated information
-Aggregated volume
-Price
48,915
£2.7707
e)
Date of the transaction
2026-03-31
f)
Place of the transaction
XLON
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction a. Vest of a conditional award under the DIP granted in 2023
b. Vest of a nil-cost option PSP award granted in 2023
c) Price(s) and volume(s) Item Price (s) Volume (s)
a. Nil 31,624
b. Nil 120,202
d) Aggregated information
-Aggregated volume 151,826
-Price Nil
e) Date of the transaction 2026-03-31
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction a. Sale of shares to cover applicable withholding and other deductions
arising from the release of a conditional award under the DIP
b. Sale of shares to cover applicable withholding and other deductions
arising from the exercise and release of a nil-cost option award under the PSP
c) Price(s) and volume(s) Item Price (s) Volume (s)
a. £2.7707 14,905
b. £2.7707 56,652
d) Aggregated information
-Aggregated volume 71,557
-Price £2.7707
e) Date of the transaction 2026-03-31
f) Place of the transaction XLON
d)
Aggregated information
-Aggregated volume
-Price
151,826
Nil
e)
Date of the transaction
2026-03-31
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
GB00BKFB1C65
b)
Nature of the transaction
a. Sale of shares to cover applicable withholding and other deductions
arising from the release of a conditional award under the DIP
b. Sale of shares to cover applicable withholding and other deductions
arising from the exercise and release of a nil-cost option award under the PSP
c)
Price(s) and volume(s)
Item Price (s) Volume (s)
a. £2.7707 14,905
b. £2.7707 56,652
d)
Aggregated information
-Aggregated volume
-Price
71,557
£2.7707
e)
Date of the transaction
2026-03-31
f)
Place of the transaction
XLON
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 & 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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction Sale of shares to cover applicable withholding tax and other deductions
arising from the release of a conditional award under the DIP following the
end of a holding period
c) Price(s) and volume(s) Price (s) Volume (s)
£2.7707 29,483
d) Aggregated information
-Aggregated volume 29,483
-Price £2.7707
e) Date of the transaction 2026-03-31
f) Place of the transaction XLON
d)
Aggregated information
-Aggregated volume
-Price
29,483
£2.7707
e)
Date of the transaction
2026-03-31
f)
Place of the transaction
XLON
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Matthew 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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction a. Vest of a conditional award granted in 2023 under the DIP
b. Vest of a PSP nil-cost option award granted in 2023 into a two-year
holding period
c) Price(s) and volume(s) Item Price (s) Volume (s)
a. Nil 86,630
b. Nil 264,546
d) Aggregated information
-Aggregated volume 351,176
-Price Nil
e) Date of the transaction 2026-03-31
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction Sale of shares to cover applicable withholding tax and other deductions
arising from the release of a conditional award under the DIP
c) Price(s) and volume(s) Price (s) Volume (s)
£2.7707 40,853
d) Aggregated information
-Aggregated volume 40,853
-Price £2.7707
e) Date of the transaction 2026-03-31
f) Place of the transaction XLON
d)
Aggregated information
-Aggregated volume
-Price
351,176
Nil
e)
Date of the transaction
2026-03-31
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
GB00BKFB1C65
b)
Nature of the transaction
Sale of shares to cover applicable withholding tax and other deductions
arising from the release of a conditional award under the DIP
c)
Price(s) and volume(s)
Price (s) Volume (s)
£2.7707 40,853
d)
Aggregated information
-Aggregated volume
-Price
40,853
£2.7707
e)
Date of the transaction
2026-03-31
f)
Place of the transaction
XLON
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction a. Vest of a conditional award granted in 2023 under the DIP
b. Vest of a PSP nil-cost option award granted in 2023 into a two-year
holding period
c) Price(s) and volume(s) Item Price (s) Volume (s)
a. Nil 146,151
b. Nil 484,542
Aggregated information
-Aggregated volume 630,693
-Price Nil
Date of the transaction 2026-03-31
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction Sale of shares to cover applicable withholding tax and other deductions
arising from the release of a conditional award under the DIP
c) Price(s) and volume(s) Price (s) Volume (s)
£2.7707 68,884
Aggregated information
-Aggregated volume 68,884
-Price £2.7707
Date of the transaction 2026-03-31
Place of the transaction XLON
Aggregated information
-Aggregated volume
-Price
630,693
Nil
Date of the transaction
2026-03-31
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
GB00BKFB1C65
b)
Nature of the transaction
Sale of shares to cover applicable withholding tax and other deductions
arising from the release of a conditional award under the DIP
c)
Price(s) and volume(s)
Price (s) Volume (s)
£2.7707 68,884
Aggregated information
-Aggregated volume
-Price
68,884
£2.7707
Date of the transaction
2026-03-31
Place of the transaction
XLON
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction a. Vest of a conditional award granted in 2023 under the DIP
b. Vest of a PSP nil-cost option award granted in 2023 into a two-year
holding period
c) Price(s) and volume(s) Item Price (s) Volume (s)
a. Nil 237,695
b. Nil 417,707
d) Aggregated information
-Aggregated volume 655,402
-Price Nil
e) Date of the transaction 2026-03-31
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction Sale of shares to cover applicable withholding tax and other deductions
arising from the release of a conditional award under the DIP
c) Price(s) and volume(s) Price (s) Volume (s)
£2.7707 111,996
d) Aggregated information
-Aggregated volume 111,996
-Price £2.7707
e) Date of the transaction 2026-03-31
f) Place of the transaction XLON
d)
Aggregated information
-Aggregated volume
-Price
655,402
Nil
e)
Date of the transaction
2026-03-31
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
GB00BKFB1C65
b)
Nature of the transaction
Sale of shares to cover applicable withholding tax and other deductions
arising from the release of a conditional award under the DIP
c)
Price(s) and volume(s)
Price (s) Volume (s)
£2.7707 111,996
d)
Aggregated information
-Aggregated volume
-Price
111,996
£2.7707
e)
Date of the transaction
2026-03-31
f)
Place of the transaction
XLON
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Andrea Rossi
2 Reason for the notification
a) Position/status Group Chief Executive
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction a. Vest of a conditional award granted in 2023 under the DIP
b. Vest of a PSP nil-cost option award granted in 2023 into a two-year
holding period
c) Price(s) and volume(s) Item Price (s) Volume (s)
a. Nil 85,061
b. Nil 812,214
d) Aggregated information
-Aggregated volume 897,275
-Price Nil
e) Date of the transaction 2026-03-31
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction Sale of shares to cover applicable withholding tax and other deductions
arising from the release of a conditional award under the DIP
c) Price(s) and volume(s) Price (s) Volume (s)
£2.7707 40,114
d) Aggregated information
-Aggregated volume 40,114
-Price £2.7707
e) Date of the transaction 2026-03-31
f) Place of the transaction XLON
d)
Aggregated information
-Aggregated volume
-Price
897,275
Nil
e)
Date of the transaction
2026-03-31
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
GB00BKFB1C65
b)
Nature of the transaction
Sale of shares to cover applicable withholding tax and other deductions
arising from the release of a conditional award under the DIP
c)
Price(s) and volume(s)
Price (s) Volume (s)
£2.7707 40,114
d)
Aggregated information
-Aggregated volume
-Price
40,114
£2.7707
e)
Date of the transaction
2026-03-31
f)
Place of the transaction
XLON
1 Details of the person discharging managerial responsibilities / person closely
associated
a) Name Louise Shield
2 Reason for the notification
a) Position/status Group Corporate Affairs, Sustainability & Brand 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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction a. Vest of two conditional awards granted in 2023 under the DIP
b. Vest of a PSP nil-cost option award granted in 2023 under the PSP
c. Vest of a DIP conditional award granted in 2023 into a one-year
holding period
c) Price(s) and volume(s) Item Price (s) Volume (s)
a. Nil 85,009
b. Nil 133,557
c. Nil 11,414
d) Aggregated information
-Aggregated volume 229,980
-Price Nil
e) Date of the transaction 2026-03-31
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 Ordinary shares of 5 pence each
Identification code
GB00BKFB1C65
b) Nature of the transaction a. Sale of shares to cover applicable withholding and other deductions
arising from the release of two conditional awards under the DIP
b. Sale of shares to cover applicable withholding and other deductions
arising from the exercise and release of a nil-cost option award under the PSP
c. Sale of shares to cover applicable withholding tax and other
deductions arising from the release of a conditional award under the DIP
following the end of a holding period
d. Sale of shares to cover applicable withholding tax and other
deductions arising from the exercise and release of a nil-cost option award
under the PSP following the end of a holding period
c) Price(s) and volume(s) Item Price (s) Volume (s)
a. £2.7707 40,051
b. £2.7707 62,923
c. £2.7707 23,618
d. £2.7707 8,040
d) Aggregated information
-Aggregated volume 134,632
-Price £2.7707
e) Date of the transaction 2026-03-31
f) Place of the transaction XLON
d)
Aggregated information
-Aggregated volume
-Price
229,980
Nil
e)
Date of the transaction
2026-03-31
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
GB00BKFB1C65
b)
Nature of the transaction
a. Sale of shares to cover applicable withholding and other deductions
arising from the release of two conditional awards under the DIP
b. Sale of shares to cover applicable withholding and other deductions
arising from the exercise and release of a nil-cost option award under the PSP
c. Sale of shares to cover applicable withholding tax and other
deductions arising from the release of a conditional award under the DIP
following the end of a holding period
d. Sale of shares to cover applicable withholding tax and other
deductions arising from the exercise and release of a nil-cost option award
under the PSP following the end of a holding period
c)
Price(s) and volume(s)
Item Price (s) Volume (s)
a. £2.7707 40,051
b. £2.7707 62,923
c. £2.7707 23,618
d. £2.7707 8,040
d)
Aggregated information
-Aggregated volume
-Price
134,632
£2.7707
e)
Date of the transaction
2026-03-31
f)
Place of the transaction
XLON
LEI: 254900TWUJUQ44TQJY84
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