PDMR SHAREHOLDING
26 June 2024
Tesco PLC (the "Company")
Grant of Awards under the Tesco PLC Long-Term Incentive Plan
2021 (the "LTIP")
On 24 June 2024, the Executive
Directors and 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.
Name of PDMR
|
No.
of shares subject to award
|
Ken Murphy
|
1,305,247
|
Imran Nawaz
|
713,035
|
Natasha Adams
|
414,053
|
Matthew Barnes
|
528,699
|
Guus Dekkers
|
414,016
|
Christine Heffernan
|
306,281
|
Gerry Mallon
|
232,053
|
Ashwin Prasad
|
474,006
|
Matt Simister
|
413,904
|
Emma Taylor
|
379,205
|
Andrew Yaxley
|
478,612
|
The above awards have been made in
the form of conditional shares which will vest on
24 June 2027 subject to the achievement of the Earnings Per
Share, Free Cash Flow and ESG performance targets over the
performance period, as outlined in the Directors' Remuneration
Report of the Tesco PLC Annual Report and Financial Statements
2024.
For the awards to Ken Murphy and
Imran Nawaz, the vested shares will be subject to a post-vesting
holding period of two years from the vesting date.
Except for the award to Gerry
Mallon, the numbers of shares have been calculated using a market
price of 308.54 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 308.54
pence per share when calculating the number of shares under Gerry's
award to reflect the absence of dividend equivalents during the
vesting period.
Sale of Ordinary shares
Tesco PLC (the "Company") has been
notified that on 24 June 2024, the following members of the
Company's Executive Committee sold Ordinary shares of 6⅓ pence each
in the Company as set out below:
Name of PDMR
|
Number of Ordinary shares sold
|
Price per Ordinary share
|
Date of sale
|
Andrew Yaxley
|
138,198
|
£3.081070
|
24 June
2024
|
Adrian Morris
|
236,452
|
£3.085000
|
24 June
2024
|
Release of shares from the Tesco PLC Long-Term
Incentive Plan 2021 (the "LTIP")
On 25 June 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 25 June 2021
under the rules of the LTIP:
Name of PDMR
|
No.
of shares released
|
No.
of shares withheld
|
No.
of net shares
|
Ken Murphy
|
1,745,632
|
820,448
|
925,184
|
Imran Nawaz
|
829,711
|
389,965
|
439,746
|
Natasha Adams
|
475,973
|
223,708
|
252,265
|
Guus Dekkers
|
501,381
|
235,650
|
265,731
|
Christine Heffernan
|
320,028
|
150,414
|
169,614
|
Gerry Mallon
|
462,660
|
231,330
|
231,330
|
Ashwin Prasad
|
436,405
|
205,111
|
231,294
|
Matt Simister
|
499,442
|
234,738
|
264,704
|
Emma Taylor
|
179,172
|
84,211
|
94,961
|
Andrew Yaxley
|
533,386
|
250,692
|
282,694
|
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. The net shares have been transferred to the PDMRs and are
subject to a post-vesting holding period until 25 June
2026.
The share price on release was
307.60 pence per share.
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