7th Jun 2007 14:38
Marks & Spencer Group PLC07 June 2007 Issued: Thursday 7 June 2007 MARKS AND SPENCER GROUP PLC ("MARKS & SPENCER" OR THE "COMPANY") NOTIFICATION OF TRANSACTIONS OF DIRECTORS/PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY ("PDMRS") AND CONNECTED PERSONS 1. Deferred Share Bonus Plan It was confirmed on 6 June 2007 that on 5 June 2007 the following awards underthe Marks and Spencer Group Deferred Share Bonus Plan were made to the followingPDMRs of the Company: Directors Allocation of Deferred Bonus Shares (see Note below) Stuart Rose 222,898Ian Dyson 111,449Steven Sharp 111,449 Senior management Allocation of Deferred Bonus Shares (see Note below)Kate Bostock 28,985Guy Farrant 36,424Graham Oakley 37,149Andrew Skinner 28,922 Note: The above awards were made under the Company's Annual Bonus Scheme. Thisrequires executive directors to defer 60% of their bonus earned and seniormanagement to defer 50% of their bonus earned into shares in the Deferred ShareBonus Plan. For the purposes of this calculation the grant was made at a shareprice of 706.6p. The shares will be held for 3 years. There will be no matchpaid against these deferred shares, although the value of dividends accrued,either in the form of dividend equivalents or through a Dividend ReinvestmentPlan, will be paid at the end of the period. The Annual Bonus Scheme is designed to focus and reward executives for specificoperational improvements which will drive the Company's performance. The targetsfor the Company are determined annually by the Remuneration Committee and for2006/07 incorporated a mixture of profit before tax, business unit and retailsales and profit as appropriate. The targets for executive directors wereentirely based on the delivery of corporate profit before tax. 2. Performance Share Plan It was confirmed on 6 June 2007 that on 5 June 2007 the following awards underthe Marks and Spencer Group Performance Share Plan were made to PDMRs of theCompany: Directors Allocation of Performance Shares (see Note below) Stuart Rose 594,395Ian Dyson 297,197Steven Sharp 297,197 Senior management Allocation of Performance Shares (see Note below) Kate Bostock 169,827Steven Esom 141,522Guy Farrant 113,218Carl Leaver 100,834Graham Oakley 99,065Andrew Skinner 79,252 Note: Under the Performance Share Plan, awards are granted as a conditionalallocation, where a participant will receive free ordinary shares in the Companyon the vesting of an award subject to continuing employment. The vesting of anaward will depend on the Company's adjusted earnings per share ("EPS")performance over a fixed three-year performance period starting on the first dayof the financial year in which the awards were granted. For the purposes ofthis calculation, the grant was made at a share price of 706.6p. 3. Restricted Share Plan It was confirmed on 6 June 2007 that on 5 June 2007 the following awards underthe Marks and Spencer Group Restricted Share Plan were made to PDMRs of theCompany: Senior management Allocation of Restricted Shares (see Note below) Steven Esom 70,761Carl Leaver 70,761 Note: The Restricted Share Plan was established in 2000 as part of the reward strategyfor senior management who are vital to the future success of the Company. ThePlan operates for senior management below executive director level. Awards aremade as part of ongoing reviews of reward packages, and as part of recruitmentpackages for new executives. The shares are held in Trust for a period ofbetween one and three years, at which point they are released subject to theparticipant still being in employment with the Company. For the purposes of this calculation the grant was made at a share price of706.6p. There will be no match paid against these restricted shares, althoughthe value of dividends accrued either in the form of dividend equivalents orthrough a Dividend Reinvestment Plan will be paid at the end of the period. 4. Shareholdings of PDMRs Following the above notifications, excluding any conditional allocation ofshares granted under the Deferred Share Bonus Plan, shareholdings of PDMRs,including those of their Connected Persons, are confirmed as follows: Directors Total Holding of Ordinary Total Percentage Holding SharesStuart Rose 500,416 De minimisIan Dyson 60,000 De minimisSteven Sharp 28,473 De minimis Senior management Total Holding of Ordinary Total Percentage Holding SharesKate Bostock 13,120 De minimisSteven Esom - De minimisGuy Farrant 53,812 De minimisCarl Leaver - De minimisGraham Oakley 66,720 De minimisAndrew Skinner 46,656 De minimis The above information has been disclosed under DR 3.1.4R (1) This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Marks & Spencer