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Tesco PLC Director's Dealing 2021
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Director's Dealing
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National Storage Mechanism | Additional information 
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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