PDMR SHAREHOLDING
26 April 2022
Tesco PLC (the "Company")
Grant of Awards under the Tesco PLC Long-Term Incentive Plan 2021 (the "LTIP")
On 22 April 2022, Gerry Mallon, a member of the Company's Executive Committee, was granted an award over 168,726 Ordinary Shares of 6 1/3 pence each in the Company under the LTIP.
The award has been made in the form of conditional shares which will vest on 22 April 2025 subject to the achievement of performance conditions over the vesting period.
For CRDV banking regulatory purposes, the number of shares awarded will not be increased to reflect any dividends paid to shareholders in the period between the grant and vesting of conditional shares. However, a discount has been applied to the market price of 266.68 pence per share when calculating the number of shares under the award to reflect the absence of dividend equivalents during the vesting period.
The Notification of Dealing Form 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
LEI Number: 2138002P5RNKC5W2JZ46
| 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 6 1/3 pence each
GB00BLGZ9862 | |
| b) | Nature of the transaction | Grant of conditional shares under the rules of the Tesco PLC Long-Term Incentive Plan 2021 | |
| c) | Currency | GBP | |
| d) | Price(s) and volume(s) | Price(s) £2.6668 | Volume(s) 168,726 |
| e) | Aggregated information - Aggregated volume - Aggregated Price - Aggregated Total |
168,726 £2.6668 £449,958.50 | |
| f) | Date of the transaction | 2022-04-22 | |
| g) | Place of the transaction | Outside a trading venue | |
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