Director/PDMR Shareholding

RNS Number : 0765H

Tesco PLC

30 July 2021

 

PDMR SHAREHOLDING

30 July 2021

Tesco PLC (the "Company")

Grant and Release of an Award under Listing Rule 9.4.2

On 29 July 2021, Imran Nawaz, Chief Financial Officer, was granted a conditional award over 272,072 Ordinary Shares of 6 1/3 pence each in the Company.  The award has been granted under an arrangement to which Listing Rule 9.4.2 applies in respect of the buy-out of the 2020/21 bonus which Imran forfeited on leaving his previous employment.

The number of shares awarded has been calculated using a market price of 233.21 pence per share.  

The shares vested on 29 July 2021.  Of the 272,072 shares released, 127,874 shares have been withheld to cover Income Tax and National Insurance Contributions due on release. The net shares have been transferred to Imran and must be retained under the Company's Shareholding Policy.

The share price on release was 233.25 pence per share.

This award was previously disclosed in the RNS announcement made on 6 May 2021 and the Directors' Remuneration Report of the Tesco PLC Annual Report and Financial Statements 2021. The Remuneration Committee believes that the award fairly reflects the bonus which Imran forfeited.

Grant of Awards under the Tesco PLC Long-Term Incentive Plan 2015 (the "LTIP")

On 29 July 2021, the members of the Company's Executive Committee listed below were granted awards over Ordinary Shares of 6 1/3 pence each in the Company under the LTIP, the number of shares being calculated using a market price of 233.21 pence per share.

PDMR	Number of Shares subject to award	Vesting Date
Natasha Adams	420,908	31 October 2024
Alessandra Bellini	491,059	31 October 2024
Guus Dekkers	443,377	31 October 2024
Christine Heffernan	283,006	31 October 2024
Adrian Morris	438,446	31 October 2024
Ashwin Prasad	385,918	31 October 2024
Matt Simister	441,662	31 October 2024
Jason Tarry	583,165	1 March 2024
Andrew Yaxley	471,677	31 October 2024

The above awards have been made in the form of conditional shares which will vest on the vesting dates shown above subject to the achievement of personal performance conditions over the vesting period and continuous employment.

For any dividends paid in the period between the grant and vesting 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 Notification of Dealing Forms for each PDMR can be found below.  This announcement is made in accordance with the UK Market Abuse Regulation (Regulation (EU) 596/2014, as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018). 

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	Imran Nawaz
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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under a Listing Rule 9.4.2 arrangement
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 272,072
e)	Aggregated information - Aggregated Volume - Aggregated Price - Aggregated Total	272,072 £2.3321 £634,499.11
f)	Date of the transaction	2021-07-29
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Imran Nawaz
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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Release of shares granted under a Listing Rule 9.4.2 arrangement
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3325	Volume(s) 272,072
e)	Aggregated information - Aggregated Volume - Aggregated Price - Aggregated Total	272,072 £2.3325 £634,607.94
f)	Date of the transaction	2021-07-29
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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2015
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 420,908
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	420,908 £2.3321 £981,599.55
f)	Date of the transaction	2021-07-29
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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2015
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 491,059
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	491,059 £2.3321 £1,145,198.69
f)	Date of the transaction	2021-07-29
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Guus Dekkers
2	Reason for the notification
a)	Position/status	Chief Technology 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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2015
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 443,377
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	443,377 £2.3321 £1,033,999.50
f)	Date of the transaction	2021-07-29
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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2015
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 283,006
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	283,006 £2.3321 £659,998.29
f)	Date of the transaction	2021-07-29
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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2015
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 438,446
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	438,446 £2.3321 £1,022,499.92
f)	Date of the transaction	2021-07-29
g)	Place of the transaction	Outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	Ashwin Prasad
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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2015
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 385,918
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	385,918 £2.3321 £899,999.37
f)	Date of the transaction	2021-07-29
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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2015
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 441,662
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	441,662 £2.3321 £1,029,999.95
f)	Date of the transaction	2021-07-29
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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2015
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 583,165
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	583,165 £2.3321 £1,359,999.10
f)	Date of the transaction	2021-07-29
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	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 6 1/3 pence each GB00BLGZ9862
b)	Nature of the transaction	Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2015
c)	Currency	GBP
d)	Price(s) and volume(s)	Price(s) £2.3321	Volume(s) 471,677
e)	Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total	471,677 £2.3321 £1,099,997.93
f)	Date of the transaction	2021-07-29
g)	Place of the transaction	Outside a trading venue

 

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