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

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

Financial Analyst

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.

Corporate Governance Expert

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.