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Lloyds (LYG) grants major LTIP share awards and reports PDMR dividend buys

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

Lloyds Banking Group reports several executive share transactions, mainly routine incentive awards and dividend reinvestments. On 21 May 2026, long-term incentive plan awards were granted to Charlie Nunn (6,685,044 shares) and William Chalmers (3,837,506 shares), vesting in two tranches with post‑vesting holding periods.

Newly appointed PDMRs John Langley and Amanda Murphy received LTIP awards of 2,430,251 and 1,458,151 shares, vesting 75% after three years and 25% after four years. Several PDMRs, including Kate Cheetham and Jasjyot Singh, acquired small share amounts through the 2025 final dividend reinvestment.

Group Chief Operating Officer Ron van Kemenade acquired 99,631 shares on 21 May 2026 through the exercise of share buyout awards for nil consideration, after settling income tax and national insurance, with the shares subject to a holding period.

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LTIP award to CEO Charlie Nunn 6,685,044 shares Award of shares under Long Term Incentive Plan – 2026 award on 21 May 2026
LTIP award to CFO William Chalmers 3,837,506 shares Award of shares under Long Term Incentive Plan – 2026 award on 21 May 2026
LTIP award to John Langley 2,430,251 shares 2026 LTIP award, CEO Corporate & Institutional Banking, granted 21 May 2026
LTIP award to Amanda Murphy 1,458,151 shares 2026 LTIP award, CEO Business & Commercial Banking, granted 21 May 2026
Dividend reinvestment price in SIP GBP0.9667 per share Final 2025 dividend reinvestment acquisitions on 19 May 2026
Dividend reinvestment by Jasjyot Singh (Global Nominee) 43,660 shares Acquired at GBP0.967942 per share on 20 May 2026, London Stock Exchange
Share buyout exercise by Ron van Kemenade 99,631 shares Acquisition following exercise of share awards for nil consideration on 21 May 2026
Long Term Incentive Plan financial
"On 21 May 2026, LTIP awards were made under the rules of the Group's Long Term Incentive Plan"
A long term incentive plan is a company program that awards executives and key employees bonuses—often in stock, options, or cash—only if the business meets multi-year performance goals. It links management pay to company results—like tying a coach’s bonus to a team’s multi-season record—so investors monitor it for how leaders are motivated, potential share dilution, and signals about the company’s long-term priorities.
LTIP financial
"These awards have been made by reference to the same grant date, grant price and performance measures as those used for the Group's other LTIP participants"
LTIP stands for Long-Term Incentive Plan, a company program that pays executives and key employees with stock, cash, or other rewards tied to multi-year performance targets and continued service. It matters to investors because it aligns management’s pay with the company’s long-term success—like paying a gardener in future harvest to ensure the orchard thrives—while also affecting share count and reported expenses, which can influence future returns.
Dividend Reinvestment Plan financial
"DIVIDEND REINVESTMENT PLAN SHARE ACQUISITIONS Described below are the details of the number of Shares acquired by PDMRs through the reinvestment of the final dividend"
A dividend reinvestment plan lets shareholders automatically use cash dividends to buy more shares of the same company instead of receiving the money. It matters to investors because it turns regular payouts into a steady way to grow ownership and take advantage of compound returns—like having your savings automatically buy additional slices of a pie over time—while often reducing transaction costs and smoothing purchase timing.
Share Incentive Plan financial
"Acquisition of Shares through the reinvestment of the final dividend for 2025 on Shares held in the Lloyds Banking Group plc Share Incentive Plan"
A share incentive plan is a company program that gives employees or directors the chance to receive or buy company shares, often after staying with the firm or meeting performance goals. It matters to investors because it’s like giving workers a slice of the company pie to boost performance and loyalty, but issuing those slices can reduce each existing owner’s portion and change metrics such as earnings per share and share count.
Person Discharging Managerial Responsibilities regulatory
"NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs')"
A person discharging managerial responsibilities is an individual who holds a senior role with authority to make or influence a company’s strategic or operational decisions, such as executives, board members, or other top managers. Investors care because these people often have access to confidential information and their buying or selling of company shares must be disclosed—like a referee who knows the score before the crowd, their actions can signal important, non-public insights about a company's prospects.
share buyout awards financial
"Ron van Kemenade acquired 99,631 Shares following the exercise of share buyout awards (for nil consideration) on 21 May 2026"
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.20549
 
 
FORM 6-K
 
 
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16a
of the Securities Exchange Act of 1934
 
 
 22 May 2026
LLOYDS BANKING GROUP plc
(Translation of registrant's name into English)
 
5th Floor
25 Gresham Street
London
EC2V 7HN
United Kingdom
 
 
(Address of principal executive offices)
 
 
 
Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.
 
Form 20-F..X..     Form 40-F 
 
 
Index to Exhibits
 
 
Item
 
 No. 1 Regulatory News Service Announcement, 22 May 2026
           reDirector/PDMR Shareholding
 
 
22 May 2026
 
 
LLOYDS BANKING GROUP PLC ('GROUP') - NOTIFICATION OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES ('PDMRs') IN ORDINARY SHARES OF THE GROUP OF 10 PENCE EACH ('SHARES')
 
This announcement should be read in conjunction with the disclosures in the 2025 Annual Report and Accounts published on 13 February 2026. The 2025 Annual Report and Accounts is available on the 'Financial downloads' page in the 'Investors' section of the Group's website www.lloydsbankinggroup.com.
 
 
LONG TERM INCENTIVE PLAN ('LTIP') AWARDS
On 21 May 2026, LTIP awards were made under the rules of the Group's Long Term Incentive Plan to the PDMRs listed in the table below.
 
Executive Directors
In line with the disclosure in the 2025 Annual Report and Accounts, LTIP awards to Executive Directors, Charlie Nunn and William Chalmers, were granted following approval of the new Directors' Remuneration Policy at the Group's 2026 Annual General Meeting on 14 May 2026.
 
These awards have been made by reference to the same grant date, grant price and performance measures as those used for the Group's other LTIP participants in March 2026, as previously disclosed on 5 March 2026.
 
The awards for Charlie Nunn and William Chalmers will vest in two tranches: 75% after three years, subject to a two-year post-vesting holding period, and 25% after four years, subject to a one-year post-vesting holding period.
 
Newly appointed PDMRs
On 21 May 2026, LTIP awards were also granted to newly appointed PDMRs, Amanda Murphy and John Langley, who joined the Group during 2026.
 
These awards have been made by reference to the same grant date, grant price and performance measures as those used for the Group's other LTIP participants in March 2026.
 
These awards will vest in two tranches: 75% after three years and 25% after four years with no holding period.
Name
 
Shares
 
Charlie Nunn
 
William Chalmers
 
6,685,044
 
3,837,506
 
John Langley
 
2,430,251
 
Amanda Murphy
 
1,458,151
 
 
 
DIVIDEND REINVESTMENT PLAN SHARE ACQUISITIONS
Described below are the details of the number of Shares acquired by PDMRs through the reinvestment of the final dividend in respect of the year ended 31 December 2025 paid by the Group on 19 May 2026.
 
Name
 
Shares
 
Kate Cheetham
 
1,082
 
Sharon Doherty
 
     35
 
Stephen Shelley
 
 2,037
 
Jasjyot Singh
 
 43,758
 
 
 
EXERCISE OF OPTIONS TO ACQUIRE SHARES
Ron van Kemenade acquired 99,631 Shares following the exercise of share buyout awards (for nil consideration) on 21 May 2026. The number of Shares acquired is after the settlement of income tax and national insurance contributions. The Shares are subject to a holding period, in line with the period applicable to the awards from his previous employer which were bought out.
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
 Charlie Nunn
 
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
 
Lloyds Banking Group plc
b)
LEI
 
549300PPXHEU2JF0AM85
 
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 10p each
 
GB0008706128
b)
Nature of the transaction
 
 
Award of Shares under Long Term Incentive Plan - 2026 award.
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.0000
 
6,685,044
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-21
f)
Place of the transaction
Outside a trading venue
 
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
 William Chalmers
 
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
 
Lloyds Banking Group plc
b)
LEI
 
549300PPXHEU2JF0AM85
 
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 10p each
 
GB0008706128
b)
Nature of the transaction
 
 
Award of Shares under Long Term Incentive Plan - 2026 award.
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.0000
 
3,837,506
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-21
f)
Place of the transaction
Outside a trading venue
 
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
 John Langley
 
2
Reason for the notification
 
a)
Position/status
 
CEO, Corporate & Institutional Banking
 
b)
Initial notification / Amendment
 
Initial notification
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 
a)
Name
 
Lloyds Banking Group plc
b)
LEI
 
549300PPXHEU2JF0AM85
 
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 10p each
 
 GB0008706128
b)
Nature of the transaction
 
 
Award of Shares under Long Term Incentive Plan - 2026 award.
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.0000
 
2,430,251
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-21
f)
Place of the transaction
Outside a trading venue
 
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
 Amanda Murphy
 
2
Reason for the notification
 
a)
Position/status
 
CEO, Business & Commercial Banking
 
b)
Initial notification / Amendment
 
Initial notification
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 
a)
Name
 
Lloyds Banking Group plc
b)
LEI
 
549300PPXHEU2JF0AM85
 
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 10p each
 
GB0008706128
b)
Nature of the transaction
 
 
Award of Shares under Long Term Incentive Plan - 2026 award.
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.0000
 
1,458,151
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-21
f)
Place of the transaction
Outside a trading venue
 
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
 Kate Cheetham
 
2
Reason for the notification
 
a)
Position/status
 
Chief Legal Officer and Company Secretary
b)
Initial notification / Amendment
 
Initial notification
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 
a)
Name
 
Lloyds Banking Group plc
b)
LEI
 
549300PPXHEU2JF0AM85
 
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 10p each
 
GB0008706128
b)
Nature of the transaction
 
 
Acquisition of Shares through the reinvestment of the final dividend for 2025 on Shares held in the Lloyds Banking Group plc Share Incentive Plan.
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.9667
 
1,082
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-19
f)
Place of the transaction
London Stock Exchange (XLON)
 
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
 Sharon Doherty
 
2
Reason for the notification
 
a)
Position/status
 
Chief People & Places Officer
b)
Initial notification / Amendment
 
Initial notification
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 
a)
Name
 
Lloyds Banking Group plc
b)
LEI
 
549300PPXHEU2JF0AM85
 
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 10p each
 
GB0008706128
b)
Nature of the transaction
 
 
Acquisition of Shares through the reinvestment of the final dividend for 2025 on Shares held in the Lloyds Banking Group plc Share Incentive Plan.
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.9667
 
35
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-19
f)
Place of the transaction
London Stock Exchange (XLON)
 
 
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
 Stephen Shelley
 
2
Reason for the notification
 
a)
Position/status
 
Chief Risk Officer
b)
Initial notification / Amendment
 
Initial notification
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 
a)
Name
 
Lloyds Banking Group plc
b)
LEI
 
549300PPXHEU2JF0AM85
 
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 10p each
 
GB0008706128
b)
Nature of the transaction
 
 
Acquisition of Shares through the reinvestment of the final dividend for 2025 on Shares held in the Lloyds Banking Group plc Share Incentive Plan.
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.9667
 
2,037
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-19
f)
Place of the transaction
London Stock Exchange (XLON)
 
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
 Jasjyot Singh
 
2
Reason for the notification
 
a)
Position/status
 
CEO, Consumer Relationships
b)
Initial notification / Amendment
 
Initial notification
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 
a)
Name
 
Lloyds Banking Group plc
b)
LEI
 
549300PPXHEU2JF0AM85
 
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 10p each
 
 GB0008706128
b)
Nature of the transaction
 
 
Acquisition of Shares through the reinvestment of the final dividend for 2025 on Shares held in the Lloyds Banking Group plc Share Incentive Plan.
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.9667
 
98
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-19
f)
Place of the transaction
London Stock Exchange (XLON)
 
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 10p each
 
GB0008706128
b)
Nature of the transaction
 
 
Acquisition of Shares through the reinvestment of the final dividend for 2025 on Shares held in Global Nominee Account.
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.967942
 
43,660
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-20
f)
Place of the transaction
London Stock Exchange (XLON)
 
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
 Ron van Kemenade
 
2
Reason for the notification
 
a)
Position/status
 
Group Chief Operating Officer
 
b)
Initial notification / Amendment
 
Initial notification
3
 
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
 
a)
Name
 
Lloyds Banking Group plc
b)
LEI
 
549300PPXHEU2JF0AM85
 
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 10p each
 
 GB0008706128
b)
Nature of the transaction
 
 
Acquisition of Shares following the exercise of  share awards on a net of income tax and national insurance contributions (NICs) basis
c)
Price(s) and volume(s)
 
 
 
 
 
 
Price(s)
 
Volume(s)
 
 
 
GBP00.0000
 
99,631
 
 
 
 
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2026-05-21
f)
Place of the transaction
Outside a trading venue
 
 
 
Signatures
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
 
LLOYDS BANKING GROUP plc
 (Registrant)
 
 
 
By: Douglas Radcliffe
Name: Douglas Radcliffe
Title: Group Investor Relations Director
 
 
 
 Date: 22 May 2026

FAQ

What does Lloyds Banking Group (LYG) disclose about new LTIP awards?

Lloyds Banking Group granted 2026 Long Term Incentive Plan awards to PDMRs, including 6,685,044 shares to CEO Charlie Nunn and 3,837,506 shares to CFO William Chalmers. Awards vest in staged tranches over three and four years, with post‑vesting holding periods for the executive directors.

How are the new Lloyds (LYG) LTIP awards structured for top executives?

For Charlie Nunn and William Chalmers, 75% of each LTIP award vests after three years and 25% after four years. The first tranche has a two‑year post‑vesting holding period and the second a one‑year period, aligning incentives over a multi‑year horizon.

Which newly appointed PDMRs at Lloyds (LYG) received LTIP awards and how many shares?

New PDMRs John Langley and Amanda Murphy received LTIP awards of 2,430,251 and 1,458,151 shares respectively. These awards mirror other March 2026 LTIP terms and vest 75% after three years and 25% after four years, without additional holding periods after vesting.

What dividend reinvestment transactions by Lloyds (LYG) PDMRs are reported?

Several PDMRs acquired ordinary shares via reinvestment of the 2025 final dividend, paid 19 May 2026. For example, Kate Cheetham bought 1,082 shares and Stephen Shelley 2,037 shares at GBP0.9667 per share in the Lloyds Banking Group Share Incentive Plan on the London Stock Exchange.

What share acquisition did Lloyds (LYG) COO Ron van Kemenade complete?

Group Chief Operating Officer Ron van Kemenade acquired 99,631 ordinary shares on 21 May 2026 by exercising share buyout awards for nil consideration. The number is net of income tax and national insurance, and the resulting shares are subject to a holding period consistent with his former employer’s awards.

How many shares did Lloyds (LYG) PDMR Jasjyot Singh acquire through dividend reinvestment?

PDMR Jasjyot Singh, CEO Consumer Relationships, acquired multiple share lots via dividend reinvestment. These include 98 shares at GBP0.9667 in the Share Incentive Plan and 43,660 shares at GBP0.967942 through a Global Nominee Account, both on the London Stock Exchange in May 2026.