Director/PDMR Shareholding

RNS Number : 2496K

Tesco PLC

12 July 2011

 



12 July 2011

Tesco PLC (the "Company")

DIRECTOR SHAREHOLDING

On 11 July 2011, a right was granted under the Company's Performance Share Plan to the persons below over Tesco PLC Ordinary Shares for which no payment is required, the number of shares being calculated using an average market price of 407.19 pence per share in accordance with the Plan Rules.

The number of shares subject to the right will be increased to reflect the dividends that would have accrued on vested shares had they been reinvested in shares in the period between grant and exercise. 

These rights will become exercisable on 11 July 2014, subject to the achievement of performance conditions over three financial years. 

Director	Number of Shares subject to the right
R Brasher	470,788
P Clarke	742,896
A Higginson	470,788
T Mason	470,788
L McIIlwee	470,788
L Neville-Rolfe	353,091
D Potts	470,788
PDMR	Number of Shares subject to the right
G Fryett	290,098
A Horner	248,655
T Masters	303,912
M McNamara	221,027
N Robbins	359,169
K Towle	254,181

Note : Awards have been made in the form of nil cost options with the exception of Mr Mason's award which has been made as a promise over shares that will be delivered on the vesting date if the performance conditions are met.  The number of shares subject to Mr Mason's award will be increased to reflect the dividends that would have accrued on vested shares had they been reinvested in shares in the period between grant and vesting.

On 11 July 2011, the Directors/PDMR's below received Ordinary shares of 5p each in Tesco PLC released at the end of the three-year vesting period from the Tesco Performance Share Plan. The share price on release was 411.5 pence per share. The Company retained a proportion of the gross number of shares to cover the tax liabilities of the Directors.

Director	Gross Number of Shares released
T Mason	250,019
L McIlwee	67,889
PDMR	Gross Number of Shares released
G Fryett	71,909
A Horner	16,412
T Masters	64,876
M McNamara	23,447
N Robbins	71,909
K Towle	58,621

This announcement is made in accordance with the requirements of DTR 3.1.4.

Enquiries:          J Lloyd

                        Company Secretary

                        Tesco PLC

                        Tel: [phone]

 

END

 

 

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