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[6-K] Lloyds Banking Group plc Current Report (Foreign Issuer)

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

Rhea-AI Filing Summary

Lloyds Banking Group reported director/PDMR share transactions for September 2025. Two PDMRs acquired 217,494 and 138,723 ordinary shares on 19 September 2025 under the Group's Fixed Share Award at an acquisition price of 83.7899 pence per share. Those shares will be held on behalf of the PDMRs and released over three years, with one-third released each year on 19 September.

The Group also granted Sharesave options on 18 September 2025 at 74.35 pence per share to two PDMRs of 24,209 options each. Separately, a PDMR sold 80,804 shares on 22 September 2025 (sale price shown as 81.9054 pence per share), and the announcement states the PDMR remains on track to meet the Group's shareholding policy.

Positive

  • Fixed Share Awards granted and acquired: two PDMRs acquired 217,494 and 138,723 shares (net of tax) at 83.7899p, demonstrating alignment with long-term incentives.
  • Sharesave options awarded: two PDMRs each received 24,209 Sharesave options at 74.35p, reflecting employee participation in the share plan.
  • Compliance with shareholding policy: the filing states the selling PDMR remains on track to meet the Group's shareholding requirements.

Negative

  • Insider sale disclosed: a PDMR sold 80,804 shares on 22 September 2025 at 81.9054p, which investors may review for timing or liquidity reasons.

Insights

TL;DR: Routine insider awards and option grants with a small sale; no material change to capital structure.

The transactions are standard compensation and employee-share-plan activity: fixed share awards vested (net of taxes) totaling 356,217 shares acquired across two PDMRs and all-employee Sharesave options granted (two grants of 24,209). The disclosed prices—83.7899p for awards and 74.35p for options—indicate modest officer-level accumulation rather than capital raising or dilution events. The single sale of 80,804 shares at 81.9054p appears procedural and the filing explicitly notes continued compliance with the group's shareholding policy, supporting a neutral investor impact.

TL;DR: Disclosures reflect standard governance transparency on PDMR dealings and adherence to shareholding policy.

The company provided timely disclosure of PDMR transactions, including acquisition prices, vesting schedule and Sharesave option grants, meeting regulatory transparency expectations. The three-year staged release of fixed awards aligns compensation retention incentives. The reported disposal of 80,804 shares includes an explicit note that the PDMR remains on track to meet the Group's shareholding policy, which mitigates governance concerns about insider selling. Overall, the filing reads as compliant and routine.

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 September 2025
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 September 2025
           re: Director/PDMR Shareholding
 
22 September 2025
 
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 2024 Annual Report and Accounts published on 20 February 2025. The 2024 Annual Report and Accounts is available on the 'Financial downloads' page in the 'Investors' section of the Group's website www.lloydsbankinggroup.com.
 
Fixed Share Awards
This announcement details the number of Shares acquired by PDMRs in respect of the third quarter of 2025 under the Group's Fixed Share Award. In this respect, the PDMRs listed in the table below acquired on 19 September 2025, after the settlement of income tax and national insurance contributions, the number of Shares as set out by their name. The acquisition price was 83.7899 pence per Share.
 
The Shares will be held on behalf of the PDMRs and will be released over a three-year period, with one-third being released each year on 19 September.
 
Name
Shares
 
Charlie Nunn
217,494
 
William Chalmers
138,723
 
 
Sharesave Scheme 2025 Option to Acquire Shares
The Group announces that an option to acquire Shares was granted on 18 September 2025 under the Lloyds Banking Group Sharesave Scheme 2017, an "all-employee" share plan, at 74.35 pence per Share to the following PDMRs:
 
Name
 
Number of Sharesave Options
 
Elyn Corfield
24,209
 
Sharon Doherty
24,209
 
 
Disposal of Shares
 
This announcement includes details of a sale of Shares by a PDMR. Following the sale of Shares below, the PDMR continues to be on track to achieve the Group's shareholding policy requirements.
 
Name
 
Number of Shares Sold
 
Price per Share
 
Transaction date
 
Chirantan Barua
80,804
81.9054p
 
22 September 2025
 
 
ENQUIRIES:
 
Investor Relations
Douglas Radcliffe
Group Investor Relations Director
Email: douglas.radcliffe@lloydsbanking.com
 
Group Corporate Affairs
Matt Smith
Head of Media Relations
Email: matt.smith@lloydsbanking.com
 
+44 (0) 20 7356 1571
 
 
 
 
+44 (0) 7788 352 487
  
NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM
 
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
 
Acquisition of Shares - In respect of the third quarter of 2025 under the Group's Fixed Share Award
c)
Price(s) and volume(s)
 
 
 
Price(s)
 
Volume(s)
GBP00.837899
217,494
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
 
N/A (single transaction)
 
 
e)
Date of the transaction
 
2025-09-19
f)
Place of the transaction
London Stock Exchange (XLON)
 
 
 
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
 
Acquisition of Shares - In respect of the third quarter of 2025 under the Group's Fixed Share Award
c)
Price(s) and volume(s)
 
 
 
Price(s)
 
Volume(s)
GBP00.837899
138,723
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
 
N/A (single transaction)
 
e)
Date of the transaction
 
2025-09-19
f)
Place of the transaction
London Stock Exchange (XLON)
 
 
 
1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
Elyn Corfield
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
 
Option granted under the Lloyds Banking Group Sharesave Scheme 2017, an "all-employee" share plan, at 74.35 pence per Share.
c)
Price(s) and volume(s)
 
 
 
Price(s)
 
Volume(s)
GBP00.7435
24,209
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
 
N/A (single transaction)
 
 
e)
Date of the transaction
 
2025-09-18
f)
Place of the transaction
Outside a trading venue
 
 
  
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
 
Option granted under the Lloyds Banking Group Sharesave Scheme 2017, an "all-employee" share plan, at 74.35 pence per Share.
c)
Price(s) and volume(s)
 
 
 
Price(s)
 
Volume(s)
GBP00.7435
24,209
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
 
N/A (single transaction)
 
 
e)
Date of the transaction
 
2025-09-18
f)
Place of the transaction
Outside a trading venue
 
 

1
Details of the person discharging managerial responsibilities / person closely associated
 
a)
Name
 
Chirantan Barua
2
Reason for the notification
 
a)
Position/status
 
CEO, Insurance, Pensions & Investments
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
 
Disposal of Shares
c)
Price(s) and volume(s)
 
 
 
Price(s)
 
Volume(s)
GBP00.819054
80,804
 
 
d)
Aggregated information
 
- Aggregated volume
 
- Price
 
 
 
 
N/A (single transaction)
e)
Date of the transaction
 
2025-09-22
f)
Place of the transaction
London Stock Exchange (XLON)
 
 
 
 
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 September 2025

FAQ

What shares did Lloyds Banking Group PDMRs acquire in September 2025 (LYG)?

Two PDMRs acquired 217,494 and 138,723 ordinary shares on 19 September 2025 under Fixed Share Awards at 83.7899 pence per share.

Were any Sharesave options granted to Lloyds PDMRs (LYG)?

Yes. On 18 September 2025 the Group granted Sharesave options at 74.35 pence per share to two PDMRs, each receiving 24,209 options.

Did any PDMR sell Lloyds shares and how many (LYG)?

A PDMR sold 80,804 shares on 22 September 2025; the filing shows a sale price of 81.9054 pence per share.

How will the Fixed Share Awards be released to PDMRs?

The acquired Fixed Share Award shares will be held on behalf of the PDMRs and released over a three-year period, with one-third released each year on 19 September.

Does the PDMR sale mean they failed to meet Lloyds' shareholding policy?

No. The announcement explicitly states the selling PDMR continues to be on track to achieve the Group's shareholding policy requirements.
Lloyds Banking

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