Director/PDMR Shareholding

RNS Number : 4919M

Tesco PLC

13 October 2016

 

PDMR SHAREHOLDING

13 October 2016

Tesco PLC (the "Company")

Grant of Awards under the Tesco PLC Performance Share Plan 2011 (the "PSP")

Jane Lawrie was appointed as Group Communications Director and a member of the Company's Executive Committee with effect from 10 October 2016.

On 10 October 2016, Jane was granted 152,408 nil-cost options over Ordinary Shares of 5 pence each in the Company under the rules of the PSP, the number of shares being calculated using a market price of 196.84 pence per share.

40% of the nil-cost options will become exercisable on 1 February 2017 and 60% of the nil-cost options will become exercisable on 1 February 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 will be increased to reflect the dividends that would have accrued had they been reinvested in shares.

The nil-cost options have been awarded in respect of the buy-out of share awards that Jane has forfeited on leaving her previous employment.  The Remuneration Committee believes that the award fairly reflects the share awards Jane forfeited in terms of value and timescale of vesting.

The Notification of Dealing Form can be found below.  This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014. 

For enquiries, please contact:

Robert Welch, Company Secretary

Tesco PLC

Tesco House

Shire Park

Kestrel Way

Welwyn Garden City

Hertfordshire

AL7 1GA

Tel: [phone]

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jane Lawrie
2	Reason for the notification
a)	Position/status	Group Communications Director
b)	Initial notification /Amendment	Initial Notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Tesco PLC
b)	Legal Entity Identifier	2138002P5RNKC5W2JZ46
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 5 pence each GB0008847096
b)	Nature of the transaction	Grant of nil-cost options under the rules of the Tesco PLC Performance Share Plan 2011
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £1.9684	Volume(s) 152,408
e)	Aggregated information - Aggregated Volume - Aggregated Price - Aggregated Total	152,408 £1.9684 £299,999.91
f)	Date of the transaction	2016-10-10
g)	Place of the transaction	Outside a trading venue

 

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