TIDMMKS

RNS Number : 7064R

Marks and Spencer Group PLC

07 July 2022

Director/PDMR Shareholding

Marks and Spencer Group plc (the 'Company') announces that on 5 July 2022 it was notified of the following transactions in the Company's Ordinary 1p shares undertaken by directors / persons discharging managerial responsibility ('PDMRs').

1. Performance Share Plan Award 2022/23

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 were made on 5 July 2022 to five PDMRs of the Company.

These awards were granted as conditional shares, the vesting of which is subject to the continued employment of the participant and satisfaction of certain performance conditions, as disclosed in the Company's 2022 Annual Report published on 7 June 2022. 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.

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. For the purposes of this award, the five-day average share price immediately preceding the date of grant of GBP1.3961 was used.

2. Deferred Share Bonus Plan Award 2021/22

As reported within the Company's 2022 Annual Report, a bonus is being paid to all eligible colleagues under the Company's Annual Bonus Scheme for 2021/22. Individuals were required to defer 50% of their bonus earned into shares under the Marks and Spencer Group Deferred Share Bonus Plan ('DSBP'). As a result, awards under the DSBP were made to the same five PDMRs of the Company on 5 July 2022.

These awards were granted as conditional share awards vesting three years from the date of grant. The value of dividends accrued, in the form of dividend equivalents, will be paid at the point of vesting. No consideration was paid for the grant of the award. For the purposes of this award, the five-day average share price immediately preceding the date of grant of GBP1.3961 was used.

 
 PDMR                  PSP Shares   DSBP Shares 
                         granted      granted 
 Stuart Machin         1,432,562      401,900 
                      -----------  ------------ 
 Katie Bickerstaffe    1,343,027      393,439 
                      -----------  ------------ 
 Eoin Tonge            1,181,863      412,363 
                      -----------  ------------ 
 Richard Price          831,960       293,266 
                      -----------  ------------ 
 Sacha Berendji         673,304       234,814 
                      -----------  ------------ 
 

The relevant notifications set out below are provided in accordance with the requirements of Article 19 of the UK Market Abuse Regulations.

 
 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 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 1p shares 
      instrument 
      Identification code                                        ISIN: GB0031274896 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 1. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Performance Share Plan 
                                                                2. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Deferred Share Bonus 
                                                                Plan 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    1. PSP Price(s)    Volume(s) 
                                                                  Nil-cost    1,432,562 
                                                                             ---------- 
 
                                                                 2. DSBP Price(s)    Volume(s) 
                                                                  Nil-cost    401,900 
                                                                             ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information -   Aggregated volume              1. PSP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   1,432,562  GBP0.00 
        -   Price                                                           ----------  ------- 
 
                                                                 2. DSBP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   401,900    GBP0.00 
                                                                            ----------  ------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   2022-07-05 
     --------------------------------------------------------  ------------------------------------------------------- 
 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 (Co-Chief Executive) 
     --------------------------------------------------------  ------------------------------------------------------- 
 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 1p shares 
      instrument 
      Identification code                                        ISIN: GB0031274896 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 1. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Performance Share Plan 
                                                                2. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Deferred Share Bonus 
                                                                Plan 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    1. PSP Price(s)    Volume(s) 
                                                                  Nil-cost    1,343,027 
                                                                             ---------- 
 
                                                                 2. DSBP Price(s)    Volume(s) 
                                                                  Nil-cost    393,439 
                                                                             ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information -   Aggregated volume              1. PSP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   1,343,027  GBP0.00 
        -   Price                                                           ----------  ------- 
 
                                                                 2. DSBP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   393,439    GBP0.00 
                                                                            ----------  ------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   2022-07-05 
     --------------------------------------------------------  ------------------------------------------------------- 
 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 (Group CFO & Chief Strategy 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 1p shares 
      instrument 
      Identification code                                        ISIN: GB0031274896 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 1. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Performance Share Plan 
                                                                2. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Deferred Share Bonus 
                                                                Plan 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    1. PSP Price(s)    Volume(s) 
                                                                  Nil-cost    1,181,863 
                                                                             ---------- 
 
                                                                 2. DSBP Price(s)    Volume(s) 
                                                                  Nil-cost    412,363 
                                                                             ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information -   Aggregated volume              1. PSP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   1,181,863  GBP0.00 
        -   Price                                                           ----------  ------- 
 
                                                                 2. DSBP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   412,363    GBP0.00 
                                                                            ----------  ------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   2022-07-05 
     --------------------------------------------------------  ------------------------------------------------------- 
 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 1p shares 
      instrument 
      Identification code                                        ISIN: GB0031274896 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 1. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Performance Share Plan 
                                                                2. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Deferred Share Bonus 
                                                                Plan 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    1. PSP Price(s)    Volume(s) 
                                                                  Nil-cost    831,960 
                                                                             ---------- 
 
                                                                 2. DSBP Price(s)    Volume(s) 
                                                                  Nil-cost    293,266 
                                                                             ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information -   Aggregated volume              1. PSP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   831,960    GBP0.00 
        -   Price                                                           ----------  ------- 
 
                                                                 2. DSBP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   293,266    GBP0.00 
                                                                            ----------  ------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   2022-07-05 
     --------------------------------------------------------  ------------------------------------------------------- 
 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 (Group Property, Store Development and Technology 
                                                                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 1p shares 
      instrument 
      Identification code                                        ISIN: GB0031274896 
     --------------------------------------------------------  ------------------------------------------------------- 
 b)   Nature of the transaction                                 1. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Performance Share Plan 
                                                                2. Award of conditional shares pursuant to the Marks 
                                                                and Spencer Group Deferred Share Bonus 
                                                                Plan 
     --------------------------------------------------------  ------------------------------------------------------- 
 c)   Price(s) and volume(s)                                    1. PSP Price(s)    Volume(s) 
                                                                  Nil-cost    673,304 
                                                                             ---------- 
 
                                                                 2. DSBP Price(s)    Volume(s) 
                                                                  Nil-cost    234,814 
                                                                             ---------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 d)   Aggregated information -   Aggregated volume              1. PSP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   673,304    GBP0.00 
        -   Price                                                           ----------  ------- 
 
                                                                 2. DSBP Price(s)   Volume(s)  Total 
                                                                  Nil-cost   234,814    GBP0.00 
                                                                            ----------  ------- 
     --------------------------------------------------------  ------------------------------------------------------- 
 e)   Date of the transaction                                   2022-07-05 
     --------------------------------------------------------  ------------------------------------------------------- 
 f)   Place of the transaction                                  Grant of conditional shares occurred outside a trading 
                                                                venue 
     --------------------------------------------------------  ------------------------------------------------------- 
 

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July 07, 2022 07:31 ET (11:31 GMT)

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