REG - Tesco PLC - Director/PDMR Shareholding <Origin Href="QuoteRef">TSCO.L</Origin>

TescoAnnouncement

13/04/2017 12:00

RNS Number : 4716C
Tesco PLC
13 April 2017
PDMR SHAREHOLDING 
13 April 2017
Tesco PLC (the "Company")
Exercise of nil-cost options under the Tesco PLC Long Term Incentive Plan 2015 (the LTIP")
On 12 April 2017, Matt Davies, a member of the Company's Executive Committee, exercised nil-cost options over 722,792 Ordinary Shares of 5 pence each in the Company from an award granted on 6 July 2015 under the rules of the LTIP. 
This represents the gross number of shares exercised. A proportion of the shares exercised have been retained to cover Income Tax and National Insurance Contributions due on exercise and the net shares have been transferred to Matt.
The share price on exercise was 184.40 pence per share.
Grant of Award under the Tesco PLC Performance Share Plan 2011 (the "PSP")
Alessandra Bellini was appointed as Chief Customer Officer and a member of the Company's Executive Committee with effect from 1 March 2017.
On 13 April 2017, Alessandra was granted a conditional award of 150,053 Ordinary Shares of 5 pence each in the Company under the rules of the PSP, the number of shares being calculated using a market price of 188.40 pence per share, the closing share price on the dealing day prior to Alessandra's appointment.
65% of the shares awarded will vest and be released on 1 February 2018 and 35% of the shares awarded will vest and be released on 1 February 2019, subject to continuous employment.
In the event that dividends are paid in the period between grant and release, the number of shares awarded will be increased to reflect the dividends that would have accrued had they been reinvested in shares. 
The shares have been awarded in respect of the buy-out of share awards that Alessandra has forfeited on leaving her previous employment. The Remuneration Committee believes that the award fairly reflects the share awards Alessandra forfeited in terms of value and timescale of vesting.
The Notification of Dealing Forms can be found below. This announcement is made in accordance with Article 19 of the EU Market Abuse Regulation 596/2014. 
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

1
Details of the person discharging managerial responsibilities/person closely associated
a)
Name
Matt Davies 
2
Reason for the notification
a)
Position/status
UK & ROI CEO
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 5 pence each 
GB0008847096 
b) 
Nature of the transaction
Exercise of nil-cost options under the rules of the Tesco PLC Long Term Incentive Plan 2015
c)
Currency
GBP 

d) 
Price(s) and volume(s)
Price(s) 
1.844
Volume(s) 
722,792
e)
Aggregated information
- Aggregated Volume
- Aggregated Price
- Aggregated Total 
722,792
1.844
1,322,828.45
f)
Date of the transaction
2017-04-12
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 5 pence each 
GB0008847096 
b) 
Nature of the transaction
Grant of conditional shares under the rules of the Tesco PLC Performance Share Plan 2011
c)
Currency
GBP 

d) 
Price(s) and volume(s)
Price(s) 
1.884
Volume(s) 
150,053
e)
Aggregated information
- Aggregated Volume
- Aggregated Price
- Aggregated Total 
150,053
1.884
282,699.85
f)
Date of the transaction
2017-04-13
g)
Place of the transaction
Outside a trading venue

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