REG - Marks and Spencer Gp - Director/PDMR Shareholding
07/07/2022 12:45
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RNS Number : 7064R Marks and Spencer Group PLC 07 July 2022
Director/PDMR Shareholding
Marks and Spencer Group plc (the 'Company') announces that on 5 July 2022 it
was notified of the following transactions in the Company's Ordinary 1p shares
undertaken by directors / persons discharging managerial responsibility
('PDMRs').
1. Performance Share Plan Award 2022/23
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
were made on 5 July 2022 to five PDMRs of the Company.
These awards were granted as conditional shares, the vesting of which is
subject to the continued employment of the participant and satisfaction of
certain performance conditions, as disclosed in the Company's 2022 Annual
Report published on 7 June 2022. 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.
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. For the purposes of this
award, the five-day average share price immediately preceding the date of
grant of £1.3961 was used.
2. Deferred Share Bonus Plan Award 2021/22
As reported within the Company's 2022 Annual Report, a bonus is being paid to
all eligible colleagues under the Company's Annual Bonus Scheme for 2021/22.
Individuals were required to defer 50% of their bonus earned into shares under
the Marks and Spencer Group Deferred Share Bonus Plan ('DSBP'). As a result,
awards under the DSBP were made to the same five PDMRs of the Company on 5
July 2022.
These awards were granted as conditional share awards vesting three years from
the date of grant. The value of dividends accrued, in the form of dividend
equivalents, will be paid at the point of vesting. No consideration was paid
for the grant of the award. For the purposes of this award, the five-day
average share price immediately preceding the date of grant of £1.3961 was
used.
PDMR PSP Shares granted DSBP Shares granted
Stuart Machin 1,432,562 401,900
Katie Bickerstaffe 1,343,027 393,439
Eoin Tonge 1,181,863 412,363
Richard Price 831,960 293,266
Sacha Berendji 673,304 234,814
The relevant notifications set out below are provided in accordance with the
requirements of Article 19 of the UK Market Abuse Regulations.
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 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 Ordinary 1p shares
Identification code
ISIN: GB0031274896
b) Nature of the transaction 1. Award of conditional shares pursuant to the Marks and Spencer Group
Performance Share Plan
2. Award of conditional shares pursuant to the Marks and Spencer Group
Deferred Share Bonus Plan
c) Price(s) and volume(s) 1. PSP
Price(s) Volume(s)
Nil-cost 1,432,562
2. DSBP
Price(s) Volume(s)
Nil-cost 401,900
d) Aggregated information 1. PSP
- Aggregated volume
Price(s) Volume(s) Total
Nil-cost 1,432,562 £0.00
- Price
2. DSBP
Price(s) Volume(s) Total
Nil-cost 401,900 £0.00
e) Date of the transaction 2022-07-05
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 (Co-Chief Executive)
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 Ordinary 1p shares
Identification code
ISIN: GB0031274896
b) Nature of the transaction 1. Award of conditional shares pursuant to the Marks and Spencer Group
Performance Share Plan
2. Award of conditional shares pursuant to the Marks and Spencer Group
Deferred Share Bonus Plan
c) Price(s) and volume(s) 1. PSP
Price(s) Volume(s)
Nil-cost 1,343,027
2. DSBP
Price(s) Volume(s)
Nil-cost 393,439
d) Aggregated information 1. PSP
- Aggregated volume
Price(s) Volume(s) Total
Nil-cost 1,343,027 £0.00
- Price
2. DSBP
Price(s) Volume(s) Total
Nil-cost 393,439 £0.00
e) Date of the transaction 2022-07-05
f) Place of the transaction Grant of conditional shares occurred outside a trading venue
2. DSBP
Price(s) Volume(s)
Nil-cost 401,900
d)
Aggregated information
- Aggregated volume
- Price
1. PSP
Price(s) Volume(s) Total
Nil-cost 1,432,562 £0.00
2. DSBP
Price(s) Volume(s) Total
Nil-cost 401,900 £0.00
e)
Date of the transaction
2022-07-05
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 (Co-Chief Executive)
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 1p shares
ISIN: GB0031274896
b)
Nature of the transaction
1. Award of conditional shares pursuant to the Marks and Spencer Group
Performance Share Plan
2. Award of conditional shares pursuant to the Marks and Spencer Group
Deferred Share Bonus Plan
c)
Price(s) and volume(s)
1. PSP
Price(s) Volume(s)
Nil-cost 1,343,027
2. DSBP
Price(s) Volume(s)
Nil-cost 393,439
d)
Aggregated information
- Aggregated volume
- Price
1. PSP
Price(s) Volume(s) Total
Nil-cost 1,343,027 £0.00
2. DSBP
Price(s) Volume(s) Total
Nil-cost 393,439 £0.00
e)
Date of the transaction
2022-07-05
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 (Group CFO & Chief Strategy 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 Ordinary 1p shares
Identification code
ISIN: GB0031274896
b) Nature of the transaction 1. Award of conditional shares pursuant to the Marks and Spencer Group
Performance Share Plan
2. Award of conditional shares pursuant to the Marks and Spencer Group
Deferred Share Bonus Plan
c) Price(s) and volume(s) 1. PSP
Price(s) Volume(s)
Nil-cost 1,181,863
2. DSBP
Price(s) Volume(s)
Nil-cost 412,363
d) Aggregated information 1. PSP
- Aggregated volume
Price(s) Volume(s) Total
Nil-cost 1,181,863 £0.00
- Price
2. DSBP
Price(s) Volume(s) Total
Nil-cost 412,363 £0.00
e) Date of the transaction 2022-07-05
f) Place of the transaction Grant of conditional shares occurred outside a trading venue
2. DSBP
Price(s) Volume(s)
Nil-cost 412,363
d)
Aggregated information
- Aggregated volume
- Price
1. PSP
Price(s) Volume(s) Total
Nil-cost 1,181,863 £0.00
2. DSBP
Price(s) Volume(s) Total
Nil-cost 412,363 £0.00
e)
Date of the transaction
2022-07-05
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 Ordinary 1p shares
Identification code
ISIN: GB0031274896
b) Nature of the transaction 1. Award of conditional shares pursuant to the Marks and Spencer Group
Performance Share Plan
2. Award of conditional shares pursuant to the Marks and Spencer Group
Deferred Share Bonus Plan
c) Price(s) and volume(s) 1. PSP
Price(s) Volume(s)
Nil-cost 831,960
2. DSBP
Price(s) Volume(s)
Nil-cost 293,266
d) Aggregated information 1. PSP
- Aggregated volume
Price(s) Volume(s) Total
Nil-cost 831,960 £0.00
- Price
2. DSBP
Price(s) Volume(s) Total
Nil-cost 293,266 £0.00
e) Date of the transaction 2022-07-05
f) Place of the transaction Grant of conditional shares occurred outside a trading venue
2. DSBP
Price(s) Volume(s)
Nil-cost 293,266
d)
Aggregated information
- Aggregated volume
- Price
1. PSP
Price(s) Volume(s) Total
Nil-cost 831,960 £0.00
2. DSBP
Price(s) Volume(s) Total
Nil-cost 293,266 £0.00
e)
Date of the transaction
2022-07-05
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 (Group Property, Store Development and Technology 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 Ordinary 1p shares
Identification code
ISIN: GB0031274896
b) Nature of the transaction 1. Award of conditional shares pursuant to the Marks and Spencer Group
Performance Share Plan
2. Award of conditional shares pursuant to the Marks and Spencer Group
Deferred Share Bonus Plan
c) Price(s) and volume(s) 1. PSP
Price(s) Volume(s)
Nil-cost 673,304
2. DSBP
Price(s) Volume(s)
Nil-cost 234,814
d) Aggregated information 1. PSP
- Aggregated volume
Price(s) Volume(s) Total
Nil-cost 673,304 £0.00
- Price
2. DSBP
Price(s) Volume(s) Total
Nil-cost 234,814 £0.00
e) Date of the transaction 2022-07-05
f) Place of the transaction Grant of conditional shares occurred outside a trading venue
2. DSBP
Price(s) Volume(s)
Nil-cost 234,814
d)
Aggregated information
- Aggregated volume
- Price
1. PSP
Price(s) Volume(s) Total
Nil-cost 673,304 £0.00
2. DSBP
Price(s) Volume(s) Total
Nil-cost 234,814 £0.00
e)
Date of the transaction
2022-07-05
f)
Place of the transaction
Grant of conditional shares occurred outside a trading venue
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