Marks & Spencer Group PLC

Director's Dealing • Jun 22, 2015

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RNS Number : 8528Q

Marks & Spencer Group PLC

22 June 2015

Marks and Spencer Group Plc (the 'Company') Notification of Transactions of Directors/Persons Discharging Managerial Responsibility

1. PDMR TRANSACTIONS

The transactions below took place on Thursday 18 June 2015, in London, and were notified to the Company on 22 June 2015.  The transactions relate to the exercise of shares awards following maturity and the subsequent sale of shares to cover Tax and NI liabilities.  Details are as follows

EXERCISE OF OPTIONS (WHICH VESTED ON 18 JUNE 2015) FROM THE 2012 DEFERRED SHARE BONUS PLAN (DSBP) AWARD, AND SUBSEQUENT SALE TO COVER TAX AND NI LIABILITY.

EXERCISE OF OPTIONS (WHICH VESTED ON 18 JUNE 2015) FROM THE 2012 PERFORMANCE SHARE PLAN (PSP) AWARD, AND SUBSEQUENT SALE OF SHARES

NAME	AWARD TYPE	NO. OF OPTIONS EXERCISED	NUMBER OF SHARES SOLD	PRICE
MARC BOLLAND	DSBP (2012 AWARD)	101,968	48,093	£5.435
PSP (2012 AWARD)	35,239	16,621	£5.435
JOHN DIXON1	DSBP (2012 AWARD)	62,233	29,353	£5.435
STEVE ROWE	DSBP (2012 AWARD)	32,753	15,448	£5.435
PSP (2012 AWARD)	10,946	5,163	£5.435

1John Dixon transferred 32,880 shares to his wife, Sarah Dixon, following his transaction

The name of the shareholder to which the shares were subsequently registered is as follows

DIRECTOR	NAME OF REGISTERED SHAREHOLDER
MARC BOLLAND	HSBC
JOHN DIXON (Shares transferred to Sarah Dixon)	EQUINITI CORPORATE NOMINEES LIMITED
STEVE ROWE	EQUINITI CORPORATE NOMINEES LIMITED

2. Deferred Share Bonus Plan - 2014/15 award

It was confirmed on 22 June 2015 that on 19 June 2015 the following awards under the Marks and Spencer Group Deferred Share Bonus Plan were made to the following PDMRs of the Company:

Directors	Form of Award (Nil Cost Option/Conditional Award	Allocation of Deferred Bonus Shares (See Note Below)
Marc Bolland	Nil Cost Option	54,331
Patrick Bousquest-Chavanne2	Conditional Award	20,253
John Dixon	Nil Cost Option	19,806
Steve Rowe	Nil Cost Option	59,556
Laura Wade-Gery	Nil Cost Option	19,938

Note:    The above awards were made under the Company's Annual Bonus Scheme for 2014/15. This required executive directors to defer 50% of their bonus earned into shares in the Deferred Share Bonus Plan. This award was granted as a nil cost option, where a participant will normally be entitled to exercise their award and receive free shares between the third and tenth anniversary of grant 2. There will be no match paid against these deferred shares, although the value of dividends accrued, in the form of dividend equivalents will be paid at the end of the period (third anniversary). No price is payable on the exercise of the award. For the purposes of this calculation, the grant was made at a share price of £5.483 

The Annual Bonus Scheme is designed to focus and reward executives for specific operational improvements which will drive the Company's performance. The targets for the Company are determined annually by the Remuneration Committee and for 2014/15 incorporated a mixture of group profit before tax, and individual performance.

2 Patrick Bosquet-Chavanne award is structured as conditional shares which vest on the third anniversary of grant.

3. Shareholdings of PDMRs

Directors	Total Holding of Ordinary Shares	Total Percentage Holding in the Company
Marc Bolland	683,929	De minimis
Patrick Bousquest-Chavanne	2,000	De minimis
John Dixon	361,076	De minimis
Steve Rowe	188,535	De minimis
Laura Wade-Gery	172,955	De minimis

The above holdings are at 22 June 2015, being the date of this announcement, and include holdings for Connected Persons.

The above information has been disclosed under DTR 3.1.4

For Queries please contact:

Corporate PR  +44 (0)20 8718 1919

This information is provided by RNS

The company news service from the London Stock Exchange

END

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