Director/PDMR Shareholding

RNS Number : 8925Y

Tesco PLC

14 May 2019

 

PDMR SHAREHOLDING

14 May 2019

Tesco PLC (the "Company")

Grant of Awards under the Tesco PLC 2014 Executive Incentive Plan (the "EIP"), the Tesco PLC Group Bonus Plan (the "GBP") and the Tesco PLC Performance Share Plan 2011 (the "PSP")

On 13 May 2019, the members of the Company's Executive Committee listed below were granted awards over Ordinary Shares of 5 pence each in the Company under the EIP, GBP and PSP, the number of shares being calculated using a market price of 244.12 pence per share.

PDMR	Number of Shares subject to award (EIP)	Vesting date
Dave Lewis	336,028	13 May 2022
Alan Stewart	170,740	13 May 2022
PDMR	Number of Shares subject to award (GBP)
Natasha Adams	71,720	13 May 2022
Alessandra Bellini	98,738	13 May 2022
Christine Heffernan	17,662	13 May 2021
Tony Hoggett	130,571	13 May 2022
Alison Horner	92,302	13 May 2022
Gerry Mallon	49,618	13 May 2022
Adrian Morris	101,694	13 May 2022
Matt Simister	103,043	13 May 2022
Jason Tarry	130,579	13 May 2022
Charles Wilson	108,112	13 May 2022
Andrew Yaxley	96,113	13 May 2022
PDMR	Number of Shares subject to award (PSP)
Gerry Mallon	46,252	13 May 2022

The above awards have been made in the form of conditional shares which will vest and be released on the vesting dates shown above, subject to continuous employment.

For any dividends paid in the period between the grant and release of conditional shares, the number of shares in each case will be increased to reflect the dividends that would have accrued had they been reinvested in shares.

The EIP and GBP awards have been granted in respect of the annual deferred bonus for the 2018/19 Financial Year. 

The PSP award has been granted to Gerry Mallon in respect of the buy-out of a bonus payment that he forfeited on leaving his previous employment.  The Remuneration Committee believes that this award fairly reflects the bonus payment Gerry forfeited in terms of value and timescale of vesting.

The conditional shares awarded contribute towards the shareholding guidelines for Executive Directors and Executive Committee members which are set out in the Directors' Remuneration Report of the Tesco PLC Annual Report and Financial Statements 2019 ("Directors' Remuneration Report"). 

Release of shares from the GBP and PSP

On 13 May 2019, the members of the Company's Executive Committee listed below received the following Ordinary shares of 5 pence each in the Company upon their release from awards granted under the rules of the GBP and PSP:

Name of PDMR	Number of shares released (GBP)1	Number of shares released (PSP)1
Natasha Adams	118,550	83,233
Christine Heffernan	38,021	9,609
Tony Hoggett	216,338	145,658
Matt Simister	155,159	104,040
Andrew Yaxley	169,136	119,682

1. The shares were awarded on 12 May 2016 with the exception of GBP shares released to Christine Heffernan which were awarded on 11 May 2017.

These represent the gross number of shares released including dividend equivalent shares which have accrued between grant and vesting.  A proportion of the shares released have been withheld to cover Income Tax and National Insurance Contributions due on release and the net shares have been transferred to the PDMRs.

The share price on release was 237.80 pence per share.

The Notification of Dealing Forms for each PDMR 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]

LEI Number: 2138002P5RNKC5W2JZ46

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Dave Lewis
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	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 conditional shares under the rules of the Tesco PLC 2014 Executive Incentive Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 336,028
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	336,028 £2.4412 £820,311.55
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Alan Stewart
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	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 conditional shares under the rules of the Tesco PLC 2014 Executive Incentive Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 170,740
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	170,740 £2.4412 £416,810.49
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Natasha Adams
2	Reason for the notification
a)	Position/status	Chief People Officer
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 71,720
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	71,720 £2.4412 £175,082.86
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Alessandra Bellini
2	Reason for the notification
a)	Position/status	Chief Customer Officer
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 98,738
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	98,738 £2.4412 £241,039.21
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Christine Heffernan
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 17,662
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	17,662 £2.4412 £43,116.47
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Tony Hoggett
2	Reason for the notification
a)	Position/status	Group Chief Operations Officer
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 130,571
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	130,571 £2.4412 £318,749.93
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Alison Horner
2	Reason for the notification
a)	Position/status	CEO Asia
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 92,032
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	92,302 £2.4412 £225,327.64
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Gerry Mallon
2	Reason for the notification
a)	Position/status	Chief Executive, Tesco Bank
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan (GBP) and Tesco PLC Performance Share Plan 2011 (PSP)
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412 £2.4412	Volume(s) 49,618 (GBP) 46,252 (PSP)
e)	Aggregated information - Aggregated Volume - Aggregated Price - Aggregated Total	95,870 £2.4412 £234,037.84
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Adrian Morris
2	Reason for the notification
a)	Position/status	Group General Counsel
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 101,694
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	101,694 £2.4412 £248,255.39
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Matt Simister
2	Reason for the notification
a)	Position/status	CEO Central Europe
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 103,043
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	103,043 £2.4412 £251,548.57
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Jason Tarry
2	Reason for the notification
a)	Position/status	CEO UK and ROI
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 130,579
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	130,579 £2.4412 £318,769.45
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Charles Wilson
2	Reason for the notification
a)	Position/status	CEO, Booker
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 108,112
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	108,112 £2.4412 £263,923.01
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Andrew Yaxley
2	Reason for the notification
a)	Position/status	Chief Product Officer
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 conditional shares under the rules of the Tesco PLC Group Bonus Plan
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.4412	Volume(s) 96,113
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	96,113 £2.4412 £234,631.06
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Natasha Adams
2	Reason for the notification
a)	Position/status	Chief People Officer
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	Release of shares from awards granted under the rules of the Tesco PLC Group Bonus Plan (GBP) and Tesco PLC Performance Share Plan 2011 (PSP) on 12 May 2016
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3780 £2.3780	Volume(s) 118,550 (GBP) 83,233 (PSP)
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	201,783 £2.3780 £479,839.97
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Christine Heffernan
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	Release of shares from awards granted under the rules of the Tesco PLC Group Bonus Plan (GBP) on 11 May 2017 and Tesco PLC Performance Share Plan 2011 (PSP) on 12 May 2016
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3780 £2.3780	Volume(s) 9,609 (GBP) 38,021 (PSP)
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	47,630 £2.3780 £113,264.14
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Tony Hoggett
2	Reason for the notification
a)	Position/status	Group Chief Operations Officer
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	Release of shares from awards granted under the rules of the Tesco PLC Group Bonus Plan (GBP) and Tesco PLC Performance Share Plan 2011 (PSP) on 12 May 2016
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3780 £2.3780	Volume(s) 216,338 (GBP) 145,658 (PSP)
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	361,996 £2.3780 £860,826.49
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Matt Simister
2	Reason for the notification
a)	Position/status	CEO Central Europe
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	Release of shares from awards granted under the rules of the Tesco PLC Group Bonus Plan (GBP) and Tesco PLC Performance Share Plan 2011 (PSP) on 12 May 2016
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3780 £2.3780		Volume(s) 155,159 (GBP) 104,040 (PSP)
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	259,199 £2.3780 £616,375.22
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Andrew Yaxley
2	Reason for the notification
a)	Position/status	Chief Product Officer
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	Release of shares from awards granted under the rules of the Tesco PLC Group Bonus Plan (GBP) and Tesco PLC Performance Share Plan 2011 (PSP) on 12 May 2016
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3780 £2.3780	Volume(s) 169,136 (GBP) 119,682 (PSP)
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	288,818 £2.3780 £686,809.20
f)	Date of the transaction	2019-05-13
g)	Place of the transaction	Outside a trading venue

 

END

 

 

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