Marks & Spencer Group PLC

Director's Dealing • Jun 30, 2021

National Storage Mechanism | Additional information

RNS Number : 5552D

Marks & Spencer Group PLC

30 June 2021

Director/PDMR Shareholding

Marks and Spencer Group plc (the 'Company') announces that on 29 June 2021 it was notified of the following transactions in the Company's Ordinary 25p shares undertaken by director / persons discharging managerial responsibility ('PDMRs'):

1.    Performance Share Plan Award 2021/22

As reported within the Company's 2021 Annual Report, published on 2 June 2021, 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 have been made to the seven PDMRs of the Company.

These awards were granted as conditional shares, the vesting of which is subject to the satisfaction of certain performance conditions, as well as the continued employment of the participant. 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.

As disclosed in the Annual Report, after careful consideration, given the continuing uncertainty of the impact of the pandemic on macroeconomic factors, target setting for the 2021 awards has been delayed until appropriately stretching but realistic goals can be set. Targets for these awards will be set and disclosed no later than 31 December 2021.

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 and no price is payable on the exercise of the award. For the purposes of this award, the five-day average share price immediately preceding the date of grant of £1.5267 was used.

2.    Restricted Share Plan

On the same day, conditional share awards were made under the Marks and Spencer Group Restricted Share Plan to the three PDMRs detailed below. The awards will vest, subject to their continued employment with the Company.

The value of dividends accrued, in the form of dividend equivalents, will be paid on the vesting date based on the number of vested shares. No consideration was paid for the grant of the award and no price is payable on the exercise of the award. For the purposes of this award, the five-day average share price immediately preceding the date of grant of £1.5267 was used. The Company requires members of the Executive Committee to have an equity position equivalent to 100% of salary within five years of appointment.

	Conditional shares granted	Vesting date
Stuart Machin, Chief Operating Officer	400,000	28 June 2024
Katie Bickerstaffe, Chief Operating Officer	200,000 500,000	19 June 2023 28 June 2024
Sacha Berendji, Group Property, Store Development & IT Director	100,000 200,000	19 June 2023 28 June 2024

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

1.    Performance Share Plan

1

Details of the person discharging managerial responsibilities/person closely associated

a)

Name

S Rowe

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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil-cost	1,366,509

d)

Aggregated information

-	Aggregated volume

-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

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 (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

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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil-cost	982,511

d)

Aggregated information

-	Aggregated volume
-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

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 (Property, Store Development & IT 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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil-cost	615,707

d)

Aggregated information

-	Aggregated volume
-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

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

P Friston

2

Reason for the notification

a)

Position/status

PDMR (International 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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil-cost	537,106

d)

Aggregated information

-	Aggregated volume
-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

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 Machin

2

Reason for the notification

a)

Position/status

PDMR (Chief Operating 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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil-cost	994,792

d)

Aggregated information

-	Aggregated volume
-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil-cost	753,258

d)

Aggregated information

-	Aggregated volume
-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

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 (Chief Operating 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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Performance Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil-cost	994,792

d)

Aggregated information

-	Aggregated volume
-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

f)

Place of the transaction

Grant of conditional shares occurred outside a trading venue

2.    Restricted Share Plan

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 Operating 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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Restricted Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil cost	400,000

d)

Aggregated information

-	Aggregated volume
-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

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 (Chief Operating 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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Restricted Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil cost	700,000

d)

Aggregated information

-	Aggregated volume
-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

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 (Property, Store Development & IT 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 25p shares

ISIN: GB0031274896

b)

Nature of the transaction

Award of conditional shares pursuant to the Marks and Spencer Group Restricted Share Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil cost	300,000

d)

Aggregated information

-	Aggregated volume
-	Price

n/a (single transaction)

e)

Date of the transaction

2021-06-29

f)

Place of the transaction

Grant of conditional shares occurred outside a trading venue

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHVKLFLFQLFBBX