Director/PDMR Shareholding

RNS Number : 1793Q

Marks and Spencer Group PLC

24 June 2022

 

Director/PDMR Shareholding

Marks and Spencer Group plc (the 'Company') announces that on 24 June 2022 it was notified of the following transactions in the Company's Ordinary 1p shares undertaken by directors / persons discharging managerial responsibility ('PDMRs'):

Restricted Share Plan

Vesting and release of awards as follows:

1.  Vesting of an award granted on 6 July 2020 to Eoin Tonge under the Company's Restricted Share Plan ('RSP'), (details of which were announced on 6 July 2020), and subsequent sale of shares to satisfy the tax and National Insurance liabilities arising as set out below.

Upon vesting, this award is subject to a two-year post-vesting holding period. The Company requires Eoin Tonge to have an equity position equivalent to 200% of salary within 5 years of appointment.

2.  Vesting of an award granted on 3 July 2020 to Richard Price under the Company's Restricted Share Plan ('RSP'), and subsequent sale of shares to satisfy the tax and National Insurance liabilities arising as set out below.

The award made on 3 July 2020 was granted to compensate for loss of share awards and annual bonus that were forfeited upon Richard's resignation from his previous role with Tesco PLC, and vests in four tranches over three years. The Company requires Richard Price to have an equity position equivalent to 100% of salary within 5 years of appointment.

PDMR	Shares vested on 24 June 2022	Shares sold to cover tax and NI	Shares retained by individual
E Tonge	526,168	256,760	269,408
R Price	136,608	66,663	69,945

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	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.  Vesting of 526,168 shares awarded under the Restricted Share Plan. 2.  Subsequent sale of 256,760 shares acquired under the RSP award to cover the tax and NI liability, with 269,408 shares retained.
c)	Price(s) and volume(s)	1.  Vesting Price(s) Volume(s) £0.01 526,168 2.  Sale Price(s) Volume(s) £1.3726 256,760
d)	Aggregated information - Aggregated volume - Price	1.  Vesting Price(s) Volume(s) Total £0.01 526,168  5,261.68 2.  Sale Price(s) Volume(s) Total £1.3726 256,760  352,428.78
e)	Date of the transaction	2022-06-24
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

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.  Vesting of 136,608 shares awarded under the Restricted Share Plan. 2.  Subsequent sale of 66,663 shares acquired under the RSP award to cover the tax and NI liability, with 69,945 shares retained.
c)	Price(s) and volume(s)	1.  Vesting Price(s) Volume(s) £0.01 136,608 2.  Sale Price(s) Volume(s) £1.3726 66,663
d)	Aggregated information - Aggregated volume - Price	1.  Vesting Price(s) Volume(s) Total £0.01 136,608  1,366.08 2.  Sale Price(s) Volume(s) Total £1.3726 66,663  91,501.63
e)	Date of the transaction	2022-06-24
f)	Place of the transaction	London Stock Exchange, Main Market (XLON)

 

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