Director/PDMR Shareholding

RNS Number : 7064R

Marks and Spencer Group PLC

07 July 2022

 

Director/PDMR Shareholding

Marks and Spencer Group plc (the 'Company') announces that on 5 July 2022 it was notified of the following transactions in the Company's Ordinary 1p shares undertaken by directors / persons discharging managerial responsibility ('PDMRs').

1. Performance Share Plan Award 2022/23

The Performance Share Plan ('PSP') continues to be the Company's primary long-term incentive plan for executives. As a result, awards under the PSP were made on 5 July 2022 to five PDMRs of the Company.

These awards were granted as conditional shares, the vesting of which is subject to the continued employment of the participant and satisfaction of certain performance conditions, as disclosed in the Company's 2022 Annual Report published on 7 June 2022. Specifically, the vesting of the award will depend on relative Total Shareholder Return (TSR), the Company's Earnings Per Share (EPS), Return on Capital Employed (ROCE) and strategic measures over a fixed three-year performance period starting on the first day of the financial year in which the award was granted.

On vesting, the award is subject to an additional, mandatory two-year holding period, making a total period of five years post grant. The value of dividends accrued, in the form of dividend equivalents, will be paid at the end of the period (third anniversary) based on the number of vested shares. No consideration was paid for the grant of the award. For the purposes of this award, the five-day average share price immediately preceding the date of grant of £1.3961 was used.

2. Deferred Share Bonus Plan Award 2021/22

As reported within the Company's 2022 Annual Report, a bonus is being paid to all eligible colleagues under the Company's Annual Bonus Scheme for 2021/22. Individuals were required to defer 50% of their bonus earned into shares under the Marks and Spencer Group Deferred Share Bonus Plan ('DSBP'). As a result, awards under the DSBP were made to the same five PDMRs of the Company on 5 July 2022.

These awards were granted as conditional share awards vesting three years from the date of grant. The value of dividends accrued, in the form of dividend equivalents, will be paid at the point of vesting. No consideration was paid for the grant of the award. For the purposes of this award, the five-day average share price immediately preceding the date of grant of £1.3961 was used.

PDMR	PSP Shares granted	DSBP Shares granted
Stuart Machin	1,432,562	401,900
Katie Bickerstaffe	1,343,027	393,439
Eoin Tonge	1,181,863	412,363
Richard Price	831,960	293,266
Sacha Berendji	673,304	234,814

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulations.

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	S Machin
2	Reason for the notification
a)	Position/status	PDMR (Chief Executive Officer)
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Marks and Spencer Group plc
b)	LEI	213800EJP14A79ZG1X44
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 1p shares ISIN: GB0031274896
b)	Nature of the transaction	1.  Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan 2.  Award of conditional shares pursuant to the Marks and Spencer Group Deferred Share Bonus Plan
c)	Price(s) and volume(s)	1.  PSP Price(s) Volume(s) Nil-cost 1,432,562 2.  DSBP Price(s) Volume(s) Nil-cost 401,900
d)	Aggregated information - Aggregated volume - Price	1.  PSP Price(s) Volume(s)  Total Nil-cost 1,432,562  0.00 2.  DSBP Price(s) Volume(s)  Total Nil-cost 401,900  0.00
e)	Date of the transaction	2022-07-05
f)	Place of the transaction	Grant of conditional shares occurred outside a trading venue
1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	K Bickerstaffe
2	Reason for the notification
a)	Position/status	PDMR (Co-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	Marks and Spencer Group plc
b)	LEI	213800EJP14A79ZG1X44
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 1p shares ISIN: GB0031274896
b)	Nature of the transaction	1.  Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan 2.  Award of conditional shares pursuant to the Marks and Spencer Group Deferred Share Bonus Plan
c)	Price(s) and volume(s)	1.  PSP Price(s) Volume(s) Nil-cost 1,343,027 2.  DSBP Price(s) Volume(s) Nil-cost 393,439
d)	Aggregated information - Aggregated volume - Price	1.  PSP Price(s) Volume(s)  Total Nil-cost 1,343,027  0.00 2.  DSBP Price(s) Volume(s)  Total Nil-cost 393,439  0.00
e)	Date of the transaction	2022-07-05
f)	Place of the transaction	Grant of conditional shares occurred outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	E Tonge
2	Reason for the notification
a)	Position/status	PDMR (Group CFO & Chief Strategy Officer)
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Marks and Spencer Group plc
b)	LEI	213800EJP14A79ZG1X44
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 1p shares ISIN: GB0031274896
b)	Nature of the transaction	1.  Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan 2.  Award of conditional shares pursuant to the Marks and Spencer Group Deferred Share Bonus Plan
c)	Price(s) and volume(s)	1.  PSP Price(s) Volume(s) Nil-cost 1,181,863 2.  DSBP Price(s) Volume(s) Nil-cost 412,363
d)	Aggregated information - Aggregated volume - Price	1.  PSP Price(s) Volume(s)  Total Nil-cost 1,181,863  0.00 2.  DSBP Price(s) Volume(s)  Total Nil-cost 412,363  0.00
e)	Date of the transaction	2022-07-05
f)	Place of the transaction	Grant of conditional shares occurred outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	R Price
2	Reason for the notification
a)	Position/status	PDMR (Managing Director, Clothing & Home)
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Marks and Spencer Group plc
b)	LEI	213800EJP14A79ZG1X44
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 1p shares ISIN: GB0031274896
b)	Nature of the transaction	1.  Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan 2.  Award of conditional shares pursuant to the Marks and Spencer Group Deferred Share Bonus Plan
c)	Price(s) and volume(s)	1.  PSP Price(s) Volume(s) Nil-cost 831,960 2.  DSBP Price(s) Volume(s) Nil-cost 293,266
d)	Aggregated information - Aggregated volume - Price	1.  PSP Price(s) Volume(s)  Total Nil-cost 831,960  0.00 2.  DSBP Price(s) Volume(s)  Total Nil-cost 293,266  0.00
e)	Date of the transaction	2022-07-05
f)	Place of the transaction	Grant of conditional shares occurred outside a trading venue

1	Details of the person discharging managerial responsibilities/person closely associated
a)	Name	S Berendji
2	Reason for the notification
a)	Position/status	PDMR (Group Property, Store Development and Technology Director)
b)	Initial notification/Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Marks and Spencer Group plc
b)	LEI	213800EJP14A79ZG1X44
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 1p shares ISIN: GB0031274896
b)	Nature of the transaction	1.  Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan 2.  Award of conditional shares pursuant to the Marks and Spencer Group Deferred Share Bonus Plan
c)	Price(s) and volume(s)	1.  PSP Price(s) Volume(s) Nil-cost 673,304 2.  DSBP Price(s) Volume(s) Nil-cost 234,814
d)	Aggregated information - Aggregated volume - Price	1.  PSP Price(s) Volume(s)  Total Nil-cost 673,304  0.00 2.  DSBP Price(s) Volume(s)  Total Nil-cost 234,814  0.00
e)	Date of the transaction	2022-07-05
f)	Place of the transaction	Grant of conditional shares occurred outside a trading venue

 

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