PDMR SHAREHOLDING
14 May 2024
Tesco PLC (the "Company")
Grant of Awards under the Tesco PLC Deferred Bonus Plan
2019
On 13 May 2024, 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 Tesco PLC
Deferred Bonus Plan 2019.
Name of PDMR
|
No.
of shares subject to award
|
Ken Murphy1
|
550,926
|
Imran Nawaz1
|
278,698
|
Natasha Adams2
|
176,450
|
Guus Dekkers2
|
169,224
|
Christine
Heffernan2
|
116,246
|
Gerry Mallon3
|
148,289
|
Ashwin Prasad2
|
193,744
|
Matt Simister2
|
161,830
|
Emma Taylor2
|
154,995
|
Andrew Yaxley2
|
188,381
|
1. The shares will vest on 13 May
2027. Both are Executive Directors.
2. 50% of the shares will vest on 13
May 2025 and 50% will vest on 13 May 2026.
3. 49% of the shares will vest on 13
May 2025 and 51% will vest on 13 May 2026.
The above awards have been made in
the form of conditional shares which will vest and be released
on the dates shown above, subject to
continuous employment.
Except for the award to Gerry
Mallon, the numbers of shares have been calculated using a market
price of 306.46 pence per share. For any dividends paid in
the period between the grant and release 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.
For CRDV banking regulatory
purposes, the number of shares awarded to Gerry Mallon will not be
increased to reflect any dividends paid to shareholders in the
period between the grant and release of conditional shares.
However, a discount has been applied to the market price of 306.46
pence per share when calculating the number of shares under Gerry's
award to reflect the absence of dividend equivalents during the
vesting period.
The awards have been granted in
respect of the annual deferred bonus for the 2023/24 Financial
Year.
The shares awarded contribute
towards the shareholding guidelines for Executive Directors and
Executive Committee members. The shareholding guidelines for
Executive Directors are set out in the Directors' Remuneration
Report of the Tesco PLC Annual Report and Financial Statements
2024.
Release of shares under the Tesco PLC Deferred Bonus
Plan 2019 ("DBP")
On 13 May 2024, the
members of the Company's Executive Committee
listed below received the following Ordinary
shares of 6 1/3 pence each in the Company upon their release from share awards granted on 12 May 2022
and 11 May 2023 under the DBP:
Name of PDMR
|
No.
of shares released (DBP 2022)
|
No.
of shares released (DBP 2023)
|
No.
of shares withheld
|
No.
of net shares
|
Natasha Adams
|
92,747
|
75,833
|
79,233
|
89,347
|
Guus Dekkers
|
97,585
|
75,576
|
81,386
|
91,775
|
Christine Heffernan
|
62,360
|
49,111
|
52,392
|
59,079
|
Gerry Mallon
|
58,168
|
51,038
|
54,603
|
54,603
|
Ashwin Prasad
|
87,561
|
74,862
|
76,339
|
86,084
|
Matt Simister
|
97,576
|
78,268
|
82,647
|
93,197
|
Emma Taylor
|
39,277
|
57,777
|
45,616
|
51,438
|
Andrew Yaxley
|
109,586
|
90,133
|
93,868
|
105,851
|
The numbers of shares released
represent the gross number of shares including dividend equivalent shares which have accrued
between grant and release. As shown
above, shares have been withheld to cover Income Tax and National
Insurance Contributions due on release and
the net shares have been transferred to the PDMRs.
The share price on release was
312.60 pence per share.
Sale of Ordinary shares
The Company has been notified that
on 13 May 2024, the following members of the Company's Executive
Committee sold Ordinary shares of 6 1/3 pence each in the Company as set
out below:
Name
|
No.
of shares sold
|
Sale price per share (pence)
|
Date of sale
|
Natasha Adams
|
89,347
|
312.7353
|
13 May
2024
|
Guus Dekkers
|
91,775
|
312.7353
|
13 May
2024
|
Matt Simister
|
93,197
|
312.7353
|
13 May
2024
|
Andrew Yaxley
|
105,851
|
312.7353
|
13 May
2024
|
Grant of shares under the Tesco PLC Long-Term Incentive Plan
2010 ("LTIP")
On 13 May 2024, Matthew Barnes, a
member of the Company's Executive Committee, was granted an award
over 473,144 Ordinary Shares of 6 1/3 pence each in the Company under
the LTIP.
The award has been made in the form
of conditional shares, 50% of which will vest
on 1 March 2026 and
50% will vest on 1 March 2027, subject to the achievement of
personal performance conditions over the vesting
period.
The number of shares has been
calculated using a market price of 306.46 pence per
share.
Purchase of shares under the Tesco PLC Share Incentive Plan
(the "SIP")
The Company has been notified that
on 10 May 2024, the Trustees of the SIP purchased Ordinary Shares
of 6 1/3 pence each in the Company under the SIP's Partnership
Share Scheme on behalf of the following Persons Discharging
Managerial Responsibilities ("PDMRs") as set out
below:
Name of PDMR
|
Number of shares
acquired
|
Purchase price per
share
|
Date
acquired
|
Ken Murphy
|
44
|
£3.118
|
10 May
2024
|
Natasha Adams
|
7
|
£3.118
|
10 May
2024
|
Guus Dekkers
|
44
|
£3.118
|
10 May
2024
|
Adrian Morris
|
44
|
£3.118
|
10 May
2024
|
Ashwin Prasad
|
44
|
£3.118
|
10 May
2024
|
Andrew Yaxley
|
44
|
£3.118
|
10 May
2024
|
The Notification of Dealing Forms
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