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HSBC 6-K

Hsbc Holdings PLC (HSBC)

6-K 2025-03-13 For: 2025-03-13
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Added on July 07, 2026

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a - 16 or 15d - 16 of

the Securities Exchange Act of 1934

For the month of March

HSBC Holdings plc

42nd Floor, 8 Canada Square, London E14 5HQ, England

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F).

Form 20-F X Form 40-F

HSBC HOLDINGS PLC

13 March 2025

Notification of Transactions by Persons Discharging Managerial Responsibilities ("PDMRs")

  1. Annual Incentive awards (Performance Year 2021)

Deferred awards (the "Awards") of US$0.50 ordinary shares (the "Shares") in HSBC Holdings plc (the "Company") were granted in 2022 as a part of variable pay for the performance year ended 31 December 2021.

On 11 March 2025, tranches of the Awards granted in 2022 vested and the following transactions took place in London:

Directors

Name Total number of Shares vested Number of Shares sold at £8.441503 per<br>Share1
Georges<br>Elhedery 54,632 25,678
Pam<br>Kaur 42,108 19,791

Other PDMRs

Name Total number of Shares vested Number of Shares sold at £8.441503 per<br>Share1
Richard<br>Blackburn 11,711 5,505
David<br>Liao 27,591 4,415
Barry<br>O'Byrne 25,908 4,146
Michael<br>Roberts 43,415 22,164
Surendra<br>Rosha 27,591 4,415
Ian<br>Stuart 21,269 9,997
Suzanna<br>White 12,542 5,557

1 Represents shares sold to cover withholding tax.

The PDMRs are required to retain a number of Shares equivalent in value to those that vested under the Awards (net of tax liabilities) for twelve months from the original vesting date with the exception of Suzanna White who is subject to a six-month retention period.

  1. Long Term Incentive awards (2022 to 2024 performance period)

Long Term Incentive awards (the "LTI Awards") of US$0.50 ordinary shares (the "Shares") in HSBC Holdings plc (the "Company") were granted in 2022, with a three-year forward-looking performance period commencing on 1 January 2022 and ending on 31 December 2024. The performance outcome of 75% was determined based on an assessment by the Group Remuneration Committee of performance against financial and non-financial measures, as detailed in the Directors' Remuneration Report in the Annual Report and Accounts 2024. Shares will vest in five equal annual instalments, each with a one-year retention period, commencing from March 2025.

On 11 March 2025, tranches of the LTI Awards granted in 2022 vested and the following transactions took place in London:

Directors

Name LTI Award lapsed Total number of Shares vested Number of Shares sold at £8.441503 per<br>Share1
Georges<br>Elhedery 11,200 33,597 15,791
Pam<br>Kaur 8,404 25,211 11,850

Other PDMRs

Name LTI Award lapsed Total number of Shares vested Number of Shares sold at £8.441503 per<br>Share1
David<br>Liao 6,543 19,627 3,141
Barry<br>O'Byrne 5,966 17,895 2,864
Michael<br>Roberts 9,758 29,271 14,943
Surendra<br>Rosha 6,543 19,627 3,141
Ian<br>Stuart 5,703 17,107 8,041

1 Represents shares sold to cover withholding tax.

  1. Annual Incentive awards (Performance Year 2023)

Awards of Shares in the Company were granted in 2024 as a part of variable pay for the performance year ended 31 December 2023.

On 12 March 2025, tranches of the Awards granted in 2024 vested and the following transactions took place in London:

Other PDMRs

Name Total number of Shares vested Number of Shares sold at £8.477055 per<br>Share1
David<br>Liao 10,785 1,726
Stuart<br>Riley 49,805 23,409
Michael<br>Roberts 21,084 10,764
Surendra<br>Rosha 11,177 1,789
Suzanna<br>White 15,231 6,748

1 Represents shares sold to cover withholding tax.

The PDMRs are required to retain a number of Shares equivalent in value to those that vested under the Awards (net of tax liabilities) for twelve months from the original vesting date with the exception of Suzanna White who is subject to a six-month retention period.

For the purpose of the below disclosures, the value of the awards which vested on 11 and 12 March 2025 has been calculated using the closing Share price on the London Stock Exchange on 7 March 2024 of £8.7640.

The following disclosures are made in accordance with the UK version of the EU Market Abuse Regulation 596/2014.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person Georges<br>Elhedery
2 - Reason for the notification
Position/status Group<br>Chief Executive
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 88,229 773,238.96
Aggregated £8.764 88,229 773,238.96
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.44 41,469 350,060.69
Aggregated £8.442 41,469 350,060.69
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Lapse of 2022 Long Term Incentive awards Price Volume Total
£0.00 11,200 0
Aggregated £0.00 11,200 0

All values are in British Pounds.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person Pam<br>Kaur
2 - Reason for the notification
Position/status Group<br>Chief Financial Officer
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 67,319 589,983.72
Aggregated £8.764 67,319 589,983.72
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.44 31,641 267,097.60
Aggregated £8.442 31,641 267,097.60
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Lapse of 2022 Long Term Incentive awards Price Volume Total
£0.00 8,404 0
Aggregated £0.00 8,404 0

All values are in British Pounds.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person Richard<br>Blackburn
2 - Reason for the notification
Position/status Interim<br>Group Chief Risk and Compliance Officer
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 11,711 102,635.20
Aggregated £8.764 11,711 102,635.20
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.44 5,505 46,470.47
Aggregated £8.442 5,505 46,470.47

All values are in British Pounds.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person David<br>Liao
2 - Reason for the notification
Position/status Co-Chief<br>Executive, Asia and Middle East
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 47,218 413,818.55
Aggregated £8.764 47,218 413,818.55
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.44 7,556 63,784.00
Aggregated £8.442 7,556 63,784.00
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Lapse of 2022 Long Term Incentive awards Price Volume Total
£0.00 6,543 0
Aggregated £0.00 6,543 0
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 10,785 94,519.74
Aggregated £8.764 10,785 94,519.74
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.48 1,726 14,631.40
Aggregated £8.477 1,726 14,631.40

All values are in British Pounds.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person Barry<br>O'Byrne
2 - Reason for the notification
Position/status Chief<br>Executive, International Wealth and Premier Banking
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 43,803 383,889.49
Aggregated £8.764 43,803 383,889.49
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.44 7,010 59,174.94
Aggregated £8.442 7,010 59,174.94
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Lapse of 2022 Long Term Incentive awards Price Volume Total
£0.00 5,966 0
Aggregated £0.00 5,966 0

All values are in British Pounds.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person Stuart<br>Riley
2 - Reason for the notification
Position/status Group<br>Chief Information Officer
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 49,805 436,491.02
Aggregated £8.764 49,805 436,491.02
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.48 23,409 198,439.38
Aggregated £8.477 23,409 198,439.38

All values are in British Pounds.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person Michael<br>Roberts
2 - Reason for the notification
Position/status Chief<br>Executive, HSBC Bank plc and Corporate and Institutional<br>Banking
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 72,686 637,020.10
Aggregated £8.764 72,686 637,020.10
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.44 37,107 313,238.85
Aggregated £8.442 37,107 313,238.85
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Lapse of 2022 Long Term Incentive awards Price Volume Total
£0.00 9,758 0
Aggregated £0.00 9,758 0
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 21,084 184,780.18
Aggregated £8.764 21,084 184,780.18
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.48 10,764 91,247.02
Aggregated £8.477 10,764 91,247.02

All values are in British Pounds.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person Surendra<br>Rosha
2 - Reason for the notification
Position/status Co-Chief<br>Executive, Asia and Middle East
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 47,218 413,818.55
Aggregated £8.764 47,218 413,818.55
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.44 7,556 63,784.00
Aggregated £8.442 7,556 63,784.00
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Lapse of 2022 Long Term Incentive awards Price Volume Total
£0.00 6,543 0
Aggregated £0.00 6,543 0
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 11,177 97,955.23
Aggregated £8.764 11,177 97,955.23
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.48 1,789 15,165.45
Aggregated £8.477 1,789 15,165.45

All values are in British Pounds.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person Ian<br>Stuart
2 - Reason for the notification
Position/status Chief<br>Executive, HSBC UK Bank plc
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 38,376 336,327.26
Aggregated £8.764 38,376 336,327.26
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.44 18,038 152,267.83
Aggregated £8.442 18,038 152,267.83
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Lapse of 2022 Long Term Incentive awards Price Volume Total
£0.00 5,703 0
Aggregated £0.00 5,703 0

All values are in British Pounds.

1 - Details of the person discharging managerial responsibilities /<br>person closely associated
Name of natural person Suzanna<br>White
2 - Reason for the notification
Position/status Group<br>Chief Operating Officer
Initial notification/amendment Initial<br>Notification
3<br>- Details of the issuer, emission allowance market participant,<br>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 Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 12,542 109,918.09
Aggregated £8.764 12,542 109,918.09
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-11 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.44 5,557 46,909.43
Aggregated £8.442 5,557 46,909.43
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Acquisitions under the HSBC Share Plan 2011 Price Volume Total
£8.76 15,231 133,484.48
Aggregated £8.764 15,231 133,484.48
Date of Transaction Financial Instrument Identification Code Place of Transaction Currency
2025-03-12 Ordinary shares of US$0.50 each GB0005405286 London Stock Exchange, Main Market (XLON) - British Pound
Nature of Transaction:<br><br><br>Disposal Price Volume Total
£8.48 6,748 57,203.17
Aggregated £8.477 6,748 57,203.17

All values are in British Pounds.

For any queries related to this notification, please contact:

Lee Davis

Corporate Governance & Secretariat

[email protected]

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

HSBC<br>Holdings plc
By:
Name:<br>Aileen Taylor
Title:<br>Group Company Secretary and Chief Governance Officer
Date:<br>13 March 2025