TSCO Tesco Plc

TIDMTSCO

RNS Number : 1650U

Tesco PLC

27 July 2015

DIRECTOR/PDMR SHAREHOLDING - GRANT OF AWARDS

27 July 2015

Tesco PLC (the "Company")

Grant of Awards under the Tesco PLC Performance Share Plan 2011 (the "PSP") and the Tesco PLC Long-Term Incentive Plan 2015 (the "LTIP")

Performance Share Plan

On 24 July 2015, the persons listed below were granted nil-cost options over Tesco PLC Ordinary Shares under the Tesco PLC Performance Share Plan 2011, the number of shares being calculated using a market price of 219.37 pence per share.

 
 Director            Number of Shares 
                      subject to option 
                      (PSP) 
 Dave Lewis              1,566,987 
 Alan Stewart             854,720 
 
 PDMR                Number of Shares 
                      subject to option 
                      (PSP) 
 Matt Davies              692,323 
 Jill Easterbrook         564,115 
 Benny Higgins            796,402 
 Alison Horner            520,524 
 Trevor Masters           904,712 
 Adrian Morris            490,611 
 Rebecca Shelley          416,419 
 Jason Tarry              564,115 
 Robin Terrell            564,115 
 

The nil-cost options granted under the PSP will become exercisable on 24 July 2018, subject to the achievement of relative Total Shareholder Return and Cumulative Retail Cash Generated from Operations performance targets over the performance period, as outlined in the Directors' Remuneration Report of the Tesco PLC Annual Report and Financial Statements 2015.

Long-Term Incentive Plan

On 24 July 2015, the persons listed below were granted nil-cost options over Tesco PLC Ordinary Shares under the Tesco PLC Long-Term Incentive Plan 2015, the number of shares being calculated using a market price of 219.37 pence per share. This is an exceptional one-off plan in which the CEO and CFO do not participate.

 
 PDMR               Number of Shares 
                     subject to option 
                     (LTIP) 
 Matt Davies             461,548 
 Jill Easterbrook        376,076 
 Benny Higgins           530,935 
 Alison Horner           347,016 
 Trevor Masters          603,141 
 Adrian Morris           327,074 
 Rebecca Shelley         277,613 
 Jason Tarry             376,076 
 Robin Terrell           376,076 
 

The nil-cost options granted under the LTIP will become exercisable on 24 July 2018, subject to continuous employment.

In the event that dividends are paid in the period between grant and exercise, the number of shares subject to option in each case, under both the PSP and LTIP, will be increased to reflect the dividends that would have accrued had they been reinvested in shares.

This announcement is made in accordance with the requirements of DTR 3.1.4.

 
Enquiries:  Paul Moore 
             Company Secretary 
             Tesco PLC 
             Delamare Road 
             Cheshunt 
             Hertfordshire 
             EN8 9SL 
             Tel: 01992 644120 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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