TIDMMKS
RNS Number : 5552D
Marks & Spencer Group PLC
30 June 2021
Director/PDMR Shareholding
Marks and Spencer Group plc (the 'Company') announces that on 29
June 2021 it was notified of the following transactions in the
Company's Ordinary 25p shares undertaken by director / persons
discharging managerial responsibility ('PDMRs'):
1. Performance Share Plan Award 2021/22
As reported within the Company's 2021 Annual Report, published
on 2 June 2021, 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 have been made to the seven PDMRs of
the Company.
These awards were granted as conditional shares, the vesting of
which is subject to the satisfaction of certain performance
conditions, as well as the continued employment of the participant.
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.
As disclosed in the Annual Report, after careful consideration,
given the continuing uncertainty of the impact of the pandemic on
macroeconomic factors, target setting for the 2021 awards has been
delayed until appropriately stretching but realistic goals can be
set. Targets for these awards will be set and disclosed no later
than 31 December 2021.
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 and no price is payable on the
exercise of the award. For the purposes of this award, the five-day
average share price immediately preceding the date of grant of
GBP1.5267 was used.
2. Restricted Share Plan
On the same day, conditional share awards were made under the
Marks and Spencer Group Restricted Share Plan to the three PDMRs
detailed below. The awards will vest, subject to their continued
employment with the Company.
The value of dividends accrued, in the form of dividend
equivalents, will be paid on the vesting date based on the number
of vested shares. No consideration was paid for the grant of the
award and no price is payable on the exercise of the award. For the
purposes of this award, the five-day average share price
immediately preceding the date of grant of GBP1.5267 was used. The
Company requires members of the Executive Committee to have an
equity position equivalent to 100% of salary within five years of
appointment.
Conditional Vesting date
shares granted
Stuart Machin, Chief Operating Officer 400,000 28 June 2024
---------------- --------------
Katie Bickerstaffe, Chief Operating 200,000 19 June 2023
Officer
500,000 28 June 2024
---------------- --------------
Sacha Berendji, Group Property, Store 100,000 19 June 2023
Development & IT Director
200,000 28 June 2024
---------------- --------------
The relevant notifications set out below are provided in
accordance with the requirements of Article 19 of the EU Market
Abuse Regulation.
1. Performance Share Plan
1 Details of the person discharging managerial responsibilities/person closely associated
a) Name S Rowe
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Performance Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil-cost 1,366,509
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
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 (Chief Financial 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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Performance Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil-cost 982,511
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
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 (Property, Store Development & IT 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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Performance Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil-cost 615,707
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
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 P Friston
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status PDMR (International 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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Performance Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil-cost 537,106
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
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 Machin
-------------------------------------------------------- -------------------------------------------------------
2 Reason for the notification
-----------------------------------------------------------------------------------------------------------------
a) Position/status PDMR (Chief Operating 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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Performance Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil-cost 994,792
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Performance Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil-cost 753,258
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
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 (Chief Operating 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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Performance Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil-cost 994,792
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Grant of conditional shares occurred outside a trading
venue
-------------------------------------------------------- -------------------------------------------------------
2. Restricted Share Plan
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 Operating 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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Restricted Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost 400,000
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
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 (Chief Operating 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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Restricted Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost 700,000
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
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 (Property, Store Development & IT 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 Ordinary 25p shares
instrument ISIN: GB0031274896
Identification code
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Award of conditional shares pursuant to the Marks and
Spencer Group Restricted Share Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil cost 300,000
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information - Aggregated volume n/a (single transaction)
- Price
------------------
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2021-06-29
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Grant of conditional shares occurred outside a trading
venue
-------------------------------------------------------- -------------------------------------------------------
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