Director/PDMR Shareholding

RNS Number : 1650U

Tesco PLC

27 July 2015

 



DIRECTOR/PDMR SHAREHOLDING - GRANT OF AWARDS

27 July 2015

Tesco PLC (the "Company")

Grant of Awards under the Tesco PLC Performance Share Plan 2011 (the "PSP") and the Tesco PLC Long-Term Incentive Plan 2015 (the "LTIP")

Performance Share Plan

On 24 July 2015, the persons listed below were granted nil-cost options over Tesco PLC Ordinary Shares under the Tesco PLC Performance Share Plan 2011, the number of shares being calculated using a market price of 219.37 pence per share.

Director	Number of Shares subject to option (PSP)
Dave Lewis	1,566,987
Alan Stewart	854,720
PDMR	Number of Shares subject to option (PSP)
Matt Davies	692,323
Jill Easterbrook	564,115
Benny Higgins	796,402
Alison Horner	520,524
Trevor Masters	904,712
Adrian Morris	490,611
Rebecca Shelley	416,419
Jason Tarry	564,115
Robin Terrell	564,115

The nil-cost options granted under the PSP will become exercisable on 24 July 2018, subject to the achievement of relative Total Shareholder Return and Cumulative Retail Cash Generated from Operations performance targets over the performance period, as outlined in the Directors' Remuneration Report of the Tesco PLC Annual Report and Financial Statements 2015.

Long-Term Incentive Plan

On 24 July 2015, the persons listed below were granted nil-cost options over Tesco PLC Ordinary Shares under the Tesco PLC Long-Term Incentive Plan 2015, the number of shares being calculated using a market price of 219.37 pence per share.  This is an exceptional one-off plan in which the CEO and CFO do not participate.

PDMR	Number of Shares subject to option (LTIP)
Matt Davies	461,548
Jill Easterbrook	376,076
Benny Higgins	530,935
Alison Horner	347,016
Trevor Masters	603,141
Adrian Morris	327,074
Rebecca Shelley	277,613
Jason Tarry	376,076
Robin Terrell	376,076

The nil-cost options granted under the LTIP will become exercisable on 24 July 2018, subject to continuous employment. 

In the event that dividends are paid in the period between grant and exercise, the number of shares subject to option in each case, under both the PSP and LTIP, will be increased to reflect the dividends that would have accrued had they been reinvested in shares.

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

Enquiries:

Paul Moore Company Secretary Tesco PLC Delamare Road Cheshunt Hertfordshire EN8 9SL Tel: [phone]

 

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