REG - Marks & Spencer Grp - Director/PDMR Shareholding <Origin Href="QuoteRef">MKS.L</Origin>

Marks and SpencerAnnouncement

16/07/2015 12:03

RNS Number : 8528Q
Marks & Spencer Group PLC
22 June 2015
Marks and Spencer Group Plc (the 'Company') Notification of Transactions of Directors/Persons Discharging Managerial Responsibility 
1. PDMR TRANSACTIONS 
The transactions below took place on Thursday 18 June 2015, in London, and were notified to the Company on 22 June 2015. The transactions relate to the exercise of shares awards following maturity and the subsequent sale of shares to cover Tax and NI liabilities. Details are as follows
EXERCISE OF OPTIONS (WHICH VESTED ON 18 JUNE 2015) FROM THE 2012 DEFERRED SHARE BONUS PLAN (DSBP) AWARD, AND SUBSEQUENT SALE TO COVER TAX AND NI LIABILITY.
EXERCISE OF OPTIONS (WHICH VESTED ON 18 JUNE 2015) FROM THE 2012 PERFORMANCE SHARE PLAN (PSP) AWARD, AND SUBSEQUENT SALE OF SHARES
NAME
AWARD TYPE
NO. OF OPTIONS EXERCISED
NUMBER OF SHARES SOLD
PRICE
MARC BOLLAND
DSBP (2012 AWARD)
101,968
48,093
5.435
PSP (2012 AWARD)
35,239
16,621
5.435
JOHN DIXON1
DSBP (2012 AWARD)
62,233
29,353
5.435
STEVE ROWE
DSBP (2012 AWARD)
32,753
15,448
5.435
PSP (2012 AWARD)
10,946
5,163
5.435

1John Dixon transferred 32,880 shares to his wife, Sarah Dixon, following his transaction
The name of the shareholder to which the shares were subsequently registered is as follows
DIRECTOR 
NAME OF REGISTERED SHAREHOLDER
MARC BOLLAND
HSBC 
JOHN DIXON (Shares transferred to Sarah Dixon)
EQUINITI CORPORATE NOMINEES LIMITED
STEVE ROWE
EQUINITI CORPORATE NOMINEES LIMITED
2. Deferred Share Bonus Plan - 2014/15 award
It was confirmed on 22 June 2015 that on 19 June 2015 the following awards under the Marks and Spencer Group Deferred Share Bonus Plan were made to the following PDMRs of the Company:
Directors
Form of Award
(Nil Cost Option/Conditional Award
Allocation of Deferred Bonus Shares
(See Note Below)
Marc Bolland
Nil Cost Option
54,331
Patrick Bousquest-Chavanne2
Conditional Award
20,253
John Dixon
Nil Cost Option
19,806
Steve Rowe
Nil Cost Option
59,556
Laura Wade-Gery
Nil Cost Option
19,938
Note: The above awards were made under the Company's Annual Bonus Scheme for 2014/15. This required executive directors to defer 50% of their bonus earned into shares in the Deferred Share Bonus Plan. This award was granted as a nil cost option, where a participant will normally be entitled to exercise their award and receive free shares between the third and tenth anniversary of grant 2. There will be no match paid against these deferred shares, although the value of dividends accrued, in the form of dividend equivalents will be paid at the end of the period (third anniversary). No price is payable on the exercise of the award. For the purposes of this calculation, the grant was made at a share price of 5.483 
The Annual Bonus Scheme is designed to focus and reward executives for specific operational improvements which will drive the Company's performance. The targets for the Company are determined annually by the Remuneration Committee and for 2014/15 incorporated a mixture of group profit before tax, and individual performance. 
2 Patrick Bosquet-Chavanne award is structured as conditional shares which vest on the third anniversary of grant. 
3. Shareholdings of PDMRs
Directors
Total Holding of Ordinary Shares
Total Percentage Holding in the Company
Marc Bolland
683,929
De minimis
Patrick Bousquest-Chavanne
2,000
De minimis
John Dixon
361,076
De minimis
Steve Rowe
188,535
De minimis
Laura Wade-Gery
172,955
De minimis
The above holdings are at 22 June 2015, being the date of this announcement, and include holdings for Connected Persons.
The above information has been disclosed under DTR 3.1.4 
For Queries please contact:
Corporate PR+44 (0)20 8718 1919

This information is provided by RNS
The company news service from the London Stock Exchange
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