Last checked at 25 May 2023 12:00
25 May 2023
Tesco PLC (the "Company")
PDMR SHAREHOLDING
Exercise of nil-cost options under the Tesco PLC Performance Share Plan 2011 (the "PSP") and Tesco PLC Group Bonus Plan (the "GBP")
On 23 May 2023, Adrian Morris, a member of the Company's Executive Committee, exercised nil-cost options over 1,114,907 Ordinary Shares of 6⅓ pence each in the Company from awards granted on 12 May 2016 and 11 May 2017 under the rules of the PSP and GBP as set out below.
Award name | Date of grant | Number of shares under option | Number of shares withheld for tax | Shares sold on exercise |
GBP | 12 May 2016 | 257,130 | 120,852 | 136,278 |
GBP | 11 May 2017 | 258,275 | 121,390 | 136,885 |
PSP | 12 May 2016 | 240,074 | 112,835 | 127,239 |
PSP | 11 May 2017 | 359,428 | 168,932 | 190,496 |
Total |
| 1,114,907 | 524,009 | 590,898 |
This represents the gross number of shares exercised. As shown above, shares have been withheld to cover Income Tax and National Insurance Contributions due on exercise and the net shares were sold on exercise as detailed below.
The share price on exercise was 268.10 pence per share.
Sale of Ordinary shares
The Company has been notified that the following members of the Company's Executive Committee sold Ordinary shares of 6⅓ pence each in the Company as set out below:
Name | Number of Ordinary Shares sold | Price per Ordinary Share | Date of Sale |
Alessandra Bellini | 161,923 | £2.669350 | 23 May 2023 |
Christine Heffernan | 175,000 | £2.651 | 24 May 2023 |
Gerry Mallon | 150,000 | £2.666770 | 23 May 2023 |
Adrian Morris | 590,898 | £2.67965 | 23 May 2023 |
143,711 | £2.675310 | 23 May 2023 | |
Jason Tarry | 188,417 | £2.67559 | 23 May 2023 |
The Notification of Dealing Form can be found below. This announcement is made in accordance with Article 19 of the Market Abuse 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
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Adrian Morris | |
2 | Reason for the notification | ||
a) | Position/status | Group General Counsel | |
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 6⅓ pence each
GB00BLGZ9862 | |
b) | Nature of the transaction | Exercise of nil-cost options under the rules of the Tesco PLC Performance Share Plan 2011 and Tesco PLC Group Bonus Plan | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) £2.681
| Volume(s) 1,114,907 |
e) | Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total |
1,114,907 £2.681 £2,989,065.67 | |
f) | Date of the transaction | 2023-05-23 | |
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 6⅓ pence each
GB00BLGZ9862 | |
b) | Nature of the transaction | Sale of Ordinary Shares | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) £2.669350
| Volume(s) 161,923 |
e) | Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total |
161,923 £2.669350 £432,229.16 | |
f) | Date of the transaction | 2023-05-23 | |
g) | Place of the transaction | London Stock Exchange, Main Market (XLON) | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Christine Heffernan | |
2 | Reason for the notification | ||
a) | Position/status | Group Communications Director | |
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 6⅓ pence each
GB00BLGZ9862 | |
b) | Nature of the transaction | Sale of Ordinary Shares | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) £2.651
| Volume(s) 175,000 |
e) | Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total |
175,000 £2.651 £463,925 | |
f) | Date of the transaction | 2023-05-24 | |
g) | Place of the transaction | London Stock Exchange, Main Market (XLON) | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Gerry Mallon | |
2 | Reason for the notification | ||
a) | Position/status | Chief Executive, Tesco Bank | |
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 6⅓ pence each
GB00BLGZ9862 | |
b) | Nature of the transaction | Sale of Ordinary Shares | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) £2.666770
| Volume(s) 150,000 |
e) | Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total |
150,000 £2.666770 £400,015.50 | |
f) | Date of the transaction | 2023-05-23 | |
g) | Place of the transaction | London Stock Exchange, Main Market (XLON) | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Adrian Morris | |
2 | Reason for the notification | ||
a) | Position/status | Group General Counsel | |
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 6⅓ pence each
GB00BLGZ9862 | |
b) | Nature of the transaction | Sale of Ordinary Shares | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) £2.67965 £2.675310
| Volume(s) 590,898 143,711 |
e) | Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total |
734,609 £2.679 £1,967,871.30 | |
f) | Date of the transaction | 2023-05-23 | |
g) | Place of the transaction | London Stock Exchange, Main Market (XLON) | |
1 | Details of the person discharging managerial responsibilities/person closely associated | ||
a) | Name | Jason Tarry | |
2 | Reason for the notification | ||
a) | Position/status | CEO, UK & ROI | |
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 6⅓ pence each
GB00BLGZ9862 | |
b) | Nature of the transaction | Sale of Ordinary Shares | |
c) | Currency | GBP | |
d) | Price(s) and volume(s) | Price(s) £2.67559
| Volume(s) 188,417 |
e) | Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total |
188,417 £2.67559 £504,126.64 | |
f) | Date of the transaction | 2023-05-23 | |
g) | Place of the transaction | London Stock Exchange, Main Market (XLON) | |