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: 07793 222569

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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