TIDMHSBA
RNS Number : 5226A
HSBC Holdings PLC
29 May 2019
HSBC HOLDINGS PLC
29 May 2019
Notification of Transactions by Persons Discharging Managerial
Responsibilities ("PDMRs")
1. Awards under the HSBC fixed pay allowance arrangements
On 28 May 2019, awards (the "Awards") of US$0.50 ordinary shares
(the "Shares") in HSBC Holdings plc (the "Company") were granted
under the HSBC fixed pay allowance arrangements. Awards comprise
part of the relevant employees' fixed remuneration for 2019. The
Awards were made in London and are based upon the closing Share
price on the London Stock Exchange on 24 May 2019 of GBP6.5940.
The Awards vest in full on the date of grant. Individual tax
liabilities in respect of the vesting of the Awards were satisfied
in cash. The number of Shares received by the Directors named below
is therefore net of tax.
The Awards will be released in five equal annual instalments
starting from March 2020.
Name Number of Shares
vested
John Flint 34,159
-----------------
Marc Moses 19,089
-----------------
Ewen Stevenson 19,089
-----------------
2. Replacement Awards made to Ewen Stevenson
On 25 June 2018, it was announced that Ewen Stevenson would be
granted awards of US$0.50 ordinary shares (the "Shares") in HSBC
Holdings plc (the "Company") (the "Replacement Award(s)"), to
replace (i) unvested awards granted by The Royal Bank of Scotland
Group plc ("RBS"), which were forfeited as a result of his HSBC
appointment, and (ii) any variable pay award he would have
otherwise received from RBS for the 2018 performance year (the
"Award for the 2018 performance year").
The Replacement Awards were made on 28 May 2019 under the HSBC
Share Plan 2011, in accordance with the terms of the remuneration
policy approved by our shareholders and the remuneration rules of
UK's Prudential Regulation Authority, as follows:
a. Immediately vested award
Name Shares awarded(1) Shares sold in Net shares vested
respect of Income
Tax and Social
Security liabilities
at GBP6.5619 per
share
Ewen Stevenson 84,397 39,667 44,730
------------------- ----------------------- -------------------
(1) The immediately vested share award was made in London and is
based upon the closing Share price on the London Stock Exchange on
30 November 2018 of GBP6.6430, in accordance with the contractual
terms agreed with Ewen Stevenson.
The immediately vested share award was a replacement award for a
portion of the 2015 Long Term Incentive Plan ("LTIP"). A retention
period applies until September 2019.
b. Deferred awards
Name Shares awarded(1) RBS Awards Replaced
Ewen Stevenson 212,442 2015+2016 LTIPs (2)
------------------- -----------------------------------------
Ewen Stevenson 313,608 2017 LTIP (3)
------------------- -----------------------------------------
Ewen Stevenson 177,883 2018 LTIP (4)
------------------- -----------------------------------------
Ewen Stevenson 241,988 Award for the 2018 performance year (5)
------------------- -----------------------------------------
(1) The Replacement Awards for the 2015 to 2018 LTIPs were made
in London and are based upon the closing Share price on the London
Stock Exchange on 30 November 2018 of GBP6.6430, in accordance with
the contractual terms agreed with Ewen Stevenson. The Replacement
Award for the 2018 performance year was made in London and is based
upon the closing Share price on the London Stock Exchange on 22
February 2019 of GBP6.2350.
(2) The Replacement Award for a portion of the 2015 LTIP and the
entirety of the 2016 LTIP will vest in March 2020 and March 2021.
Upon each vesting a six month retention period will apply.
(3) Vests between March 2021 and March 2024. The number of
Shares that vest will be determined based on the performance
outcome applied and disclosed in RBS' 2019 Annual Report. Upon each
vesting a six month retention period will apply.
(4) Vests between March 2021 and March 2025. The number of
Shares that vest may be adjusted based on any 'pre-vest performance
test' assessed and disclosed in RBS' 2020 Annual Report. Upon each
vesting a one year retention period will apply.
(5) Vests in five equal annual instalments, commencing from
March 2022. The number of Shares that vest may be adjusted based on
any 'pre-vest performance test' assessed and disclosed in RBS' 2021
Annual Report. Upon each vesting a one year retention period will
apply.
The Replacement Awards will also be subject to malus and
clawback provisions that apply under the remuneration rules of the
UK's Prudential Regulation Authority.
The following disclosures are made in accordance with Article 19
of the EU Market Abuse Regulation 596/2014.
1 - Details of the person discharging managerial responsibilities
/ person closely associated
Name of natural person Ewen Stevenson
2 - Reason for the notification
Position/status Group Chief Financial Officer
Initial notification/amendment Initial Notification
3 - Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Full name of the entity HSBC Holdings plc
Legal Entity Identifier code MLU0ZO3ML4LN2LL2TL39
4 - Details of the transaction(s)
Transaction(s) summary table
Date of Financial Identification Place of Transaction Currency
Transaction Instrument Code
2019-05-28 Ordinary GB0005405286 London Stock GBP - British
shares Exchange, Main Pound
of US$0.50 Market (XLON)
each
-------------------- -------------- ----------------- ------------------------- ------------------
Nature of Transaction: Price Volume Total
Acquisition
------------- ---------- ------------------
GBP6.59 19,089 GBP125,872.87
----------------- ------------- ---------- ------------------
Aggregated GBP6.594 19,089 GBP125,872.87
------------------------------------ ----------------- ------------- ---------- ------------------
Date of Financial Identification Place of Transaction Currency
Transaction Instrument Code
------------------ ---------------- ----------------- ------------------------- ------------------
2019-05-28 Ordinary GB0005405286 London Stock GBP - British
shares Exchange, Main Pound
of US$0.50 Market (XLON)
each
------------------ ---------------- ----------------- ------------------------- ------------------
Nature of Transaction: Price Volume Total
Acquisition
------------- ---------- ------------------
GBP6.64 788,330 GBP5,236,876.19
----------------- ------------- ---------- ------------------
Aggregated GBP6.643 788,330 GBP5,236,876.19
------------------------------------ ----------------- ------------- ---------- ------------------
Date of Financial Identification Place of Transaction Currency
Transaction Instrument Code
2019-05-28 Ordinary GB0005405286 London Stock GBP - British
shares Exchange, Main Pound
of US$0.50 Market (XLON)
each
-------------------- -------------- ----------------- ------------------------- ------------------
Nature of Transaction: Price Volume Total
Disposal
------------- ---------- ------------------
GBP6.56 39,667 GBP260,290.89
----------------- ------------- ---------- ------------------
Aggregated GBP6.562 39,667 GBP260,290.89
------------------------------------ ----------------- ------------- ---------- ------------------
Date of Financial Identification Place of Transaction Currency
Transaction Instrument Code
----------------- ------------------------- ------------------
2019-05-28 Ordinary GB0005405286 London Stock GBP - British
shares Exchange, Main Pound
of US$0.50 Market (XLON)
each
-------------------- -------------- ----------------- ------------------------- ------------------
Nature of Transaction: Price Volume Total
Acquisition
------------- ---------- ------------------
GBP6.24 241,988 GBP1,508,795.18
----------------- ------------- ---------- ------------------
Aggregated GBP6.235 241,988 GBP1,508,795.18
------------------------------------ ----------------- ------------- ---------- ------------------
1 - Details of the person discharging managerial responsibilities
/ person closely associated
Name of natural person John Flint
2 - Reason for the notification
Position/status Group Chief Executive
Initial notification/amendment Initial Notification
3 - Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Full name of the entity HSBC Holdings plc
Legal Entity Identifier code MLU0ZO3ML4LN2LL2TL39
4 - Details of the transaction(s)
Transaction(s) summary table
Date of Financial Identification Place of Transaction Currency
Transaction Instrument Code
2019-05-28 Ordinary GB0005405286 London Stock GBP - British
shares Exchange, Main Pound
of US$0.50 Market (XLON)
each
------------- ------------ --------------- ----------------------- --------------
Nature of Transaction: Price Volume Total
------------ --------- --------------
Acquisition GBP6.59 34,159 GBP225,244.45
--------------- ------------ --------- --------------
Aggregated GBP6.594 34,159 GBP225,244.45
--------------------------- --------------- ------------ --------- --------------
1 - Details of the person discharging managerial responsibilities
/ person closely associated
Name of natural person Marc Moses
2 - Reason for the notification
Position/status Group Chief Risk Officer
Initial notification/amendment Initial Notification
3 - Details of the issuer, emission allowance market participant,
auction platform, auctioneer or auction monitor
Full name of the entity HSBC Holdings plc
Legal Entity Identifier code MLU0ZO3ML4LN2LL2TL39
4 - Details of the transaction(s)
Transaction(s) summary table
Date of Financial Identification Place of Transaction Currency
Transaction Instrument Code
2019-05-28 Ordinary GB0005405286 London Stock GBP - British
shares Exchange, Main Pound
of US$0.50 Market (XLON)
each
------------- ------------ --------------- ----------------------- --------------
Nature of Transaction: Price Volume Total
------------ --------- --------------
Acquisition GBP6.59 19,089 GBP125,872.87
--------------- ------------ --------- --------------
Aggregated GBP6.594 19,089 GBP125,872.87
--------------------------- --------------- ------------ --------- --------------
For any queries related to this notification, please
contact:
Larissa Wilson
Shareholder Services
020 7991 0595
This information is provided by RNS, the news service of the
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END
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