TIDMTSCO
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 Vesting Date
to award
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, Ordinary shares of 6 1/3 pence each
type of instrument
Identification code 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) Volume(s)
GBP2.3321 272,072
--- ------------------------------------------ ------------------------------------- ------------------------------
e) Aggregated information
- Aggregated Volume 272,072
- Aggregated Price GBP2.3321
- Aggregated Total GBP634,499.11
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, Ordinary shares of 6 1/3 pence each
type of instrument
Identification code 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) Volume(s)
GBP2.3325 272,072
--- -------------------------------------------- ------------------------------------ -----------------------------
e) Aggregated information
- Aggregated Volume 272,072
- Aggregated Price GBP2.3325
- Aggregated Total GBP634,607.94
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 Ordinary shares of 6 1/3
pence each
Identification code
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) Volume(s)
GBP2.3321 420,908
--- ------------------------------------------------------------ ---------------- --------------
e) Aggregated information
- Aggregated volume 420,908
- Aggregated Price GBP2.3321
- Aggregated Total GBP981,599.55
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 Ordinary shares of 6 1/3 pence each
instrument, type of instrument
Identification code 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) Volume(s)
GBP2.3321 491,059
--- ------------------------------------ ------------------------------------ -------------------------------------
e) Aggregated information
- Aggregated volume 491,059
- Aggregated Price GBP2.3321
- Aggregated Total GBP1,145,198.69
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 Ordinary shares of 6 1/3 pence each
instrument, type of instrument
Identification code 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) Volume(s)
GBP2.3321 443,377
--- ------------------------------------ ------------------------------------ -------------------------------------
e) Aggregated information
- Aggregated volume 443,377
- Aggregated Price GBP2.3321
- Aggregated Total GBP1,033,999.50
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 Ordinary shares of 6 1/3 pence each
instrument, type of instrument
Identification code 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) Volume(s)
GBP2.3321 283,006
--- ------------------------------------ ------------------------------------ -------------------------------------
e) Aggregated information
- Aggregated volume 283,006
- Aggregated Price GBP2.3321
- Aggregated Total GBP659,998.29
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 Ordinary shares of 6 1/3 pence each
instrument, type of instrument
Identification code 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) Volume(s)
GBP2.3321 438,446
--- ------------------------------------ ------------------------------------ -------------------------------------
e) Aggregated information
- Aggregated volume 438,446
- Aggregated Price GBP2.3321
- Aggregated Total GBP1,022,499.92
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 Ordinary shares of 6 1/3 pence each
instrument, type of instrument
Identification code 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) Volume(s)
GBP2.3321 385,918
--- ------------------------------------ ------------------------------------ -------------------------------------
e) Aggregated information
- Aggregated volume 385,918
- Aggregated Price GBP2.3321
- Aggregated Total GBP899,999.37
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 Ordinary shares of 6 1/3 pence each
instrument, type of instrument
Identification code 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) Volume(s)
GBP2.3321 441,662
--- ------------------------------------ ------------------------------------ -------------------------------------
e) Aggregated information
- Aggregated volume 441,662
- Aggregated Price GBP2.3321
- Aggregated Total GBP1,029,999.95
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 Ordinary shares of 6 1/3 pence each
instrument, type of instrument
Identification code 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) Volume(s)
GBP2.3321 583,165
--- ------------------------------------ ------------------------------------ -------------------------------------
e) Aggregated information
- Aggregated volume 583,165
- Aggregated Price GBP2.3321
- Aggregated Total GBP1,359,999.10
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 Ordinary shares of 6 1/3 pence each
instrument, type of instrument
Identification code 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) Volume(s)
GBP2.3321 471,677
--- ------------------------------------ ------------------------------------ -------------------------------------
e) Aggregated information
- Aggregated volume 471,677
- Aggregated Price GBP2.3321
- Aggregated Total GBP1,099,997.93
f) Date of the transaction 2021-07-29
====================================
g) Place of the transaction Outside a trading venue
------------------------------------ ===========================================================================
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END
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