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Marks and Spencer Group PLC confirmed the targets for conditional share awards granted under its Performance Share Plan on 7 July 2025. The 2025 PSP awards include performance conditions weighted 30% for Adjusted EPS (threshold 35.5p, maximum 43.3p) and 30% for ROCE (threshold 15.8%, maximum 18.3%) in the final year of the three-year performance period. Additionally, the awards include a 20% weighting for Relative TSR and 20% for strategic measures, with vesting in 2028 and release to participants in 2030.
| Date | 11 Dec 2025 |
| Time | 10:00:00 |
| Category | Miscellaneous |
| ID | 1994L |
MARKS AND SPENCER GROUP PLC
2025 PSP AWARD TARGETS
Marks and Spencer Group plc is providing this notification following the grant of conditional share awards under the Company's Performance Share Plan on 7 July 2025. The PSP is designed to deliver sustainable value creation and encourage long-term shareholding and alignment with shareholders' interests.
As stated in the RNS announcement on 9 July 2025 and in the Company's 2025 Annual Report, due to the cyber incident, target setting for the 2025 PSP Awards was delayed until appropriately stretching but realistic goals could be set. Targets for the awards were to be announced no later than 31 December 2025.
These awards will vest in 2028 to the extent the performance conditions are met. They must then be held for a further two years, not being released to the participants until 2030. Further, malus, clawback and shareholding guidelines apply to these awards.
The targets for the 2025 PSP Award have been confirmed as follows:
|
Measure |
Weighting |
Details |
|
|
Threshold |
Maximum |
||
|
Adjusted EPS in final year of 3-yr performance period |
30% |
35.5p |
43.3p |
|
ROCE in final year of 3-yr performance period |
30% |
15.8% |
18.3% |
|
Relative TSR |
20% |
Median |
Upper Quartile |
|
Strategic measures |
20% |
M&S.com growth Food like-for-like sales growth Opex as % of sales |
|
For performance between Threshold and Maximum, awards vest on a straight-line basis.
The specific targets for the strategic measures are deemed too commercially sensitive to disclose now. These will be disclosed, where possible, on vesting.
-Ends-
For more information, please call:
M&S Corporate PR: +44 (0) 208 718 1919