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 Share1
Georges Elhedery	54,632	25,678
Pam Kaur	42,108	19,791

Other PDMRs

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

 

2.   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 Share1
Georges Elhedery	11,200	33,597	15,791
Pam 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 Share1
David Liao	6,543	19,627	3,141
Barry O'Byrne	5,966	17,895	2,864
Michael Roberts	9,758	29,271	14,943
Surendra Rosha	6,543	19,627	3,141
Ian Stuart	5,703	17,107	8,041

 

1 Represents shares sold to cover withholding tax.

3.   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 Share1
David Liao	10,785	1,726
Stuart Riley	49,805	23,409
Michael Roberts	21,084	10,764
Surendra Rosha	11,177	1,789
Suzanna 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 / person closely associated
Name of natural person				Georges Elhedery
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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Lapse of 2022 Long Term Incentive awards			Price	Volume	Total
				£0.00	11,200	£0
			Aggregated	£0.00	11,200	£0

 

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person				Pam Kaur
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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Lapse of 2022 Long Term Incentive awards			Price	Volume	Total
				£0.00	8,404	£0
			Aggregated	£0.00	8,404	£0

 

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person					Richard Blackburn
2 - Reason for the notification
Position/status					Interim Group Chief Risk and Compliance 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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Disposal				Price	Volume	Total
					£8.44	5,505	£46,470.47
				Aggregated	£8.442	5,505	£46,470.47

 

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person				David Liao
2 - Reason for the notification
Position/status				Co-Chief Executive, Asia and Middle East
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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Disposal			Price	Volume	Total
				£8.48	1,726	£14,631.40
			Aggregated	£8.477	1,726	£14,631.40

 

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person				Barry O'Byrne
2 - Reason for the notification
Position/status				Chief Executive, International Wealth and Premier Banking
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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Lapse of 2022 Long Term Incentive awards			Price	Volume	Total
				£0.00	5,966	£0
			Aggregated	£0.00	5,966	£0

 

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person					Stuart Riley
2 - Reason for the notification
Position/status					Group Chief Information 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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Disposal				Price	Volume	Total
					£8.48	23,409	£198,439.38
				Aggregated	£8.477	23,409	£198,439.38

 

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person				Michael Roberts
2 - Reason for the notification
Position/status				Chief Executive, HSBC Bank plc and Corporate and Institutional Banking
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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Disposal			Price	Volume	Total
				£8.48	10,764	£91,247.02
			Aggregated	£8.477	10,764	£91,247.02

 

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person				Surendra Rosha
2 - Reason for the notification
Position/status				Co-Chief Executive, Asia and Middle East
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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Disposal			Price	Volume	Total
				£8.48	1,789	£15,165.45
			Aggregated	£8.477	1,789	£15,165.45

 

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person				Ian Stuart
2 - Reason for the notification
Position/status				Chief Executive, HSBC UK Bank plc
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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Lapse of 2022 Long Term Incentive awards			Price	Volume	Total
				£0.00	5,703	£0
			Aggregated	£0.00	5,703	£0

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person					Suzanna White
2 - Reason for the notification
Position/status					Group Chief Operating 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 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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   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)		GBP - British Pound
	Nature of Transaction:   Disposal				Price	Volume	Total
					£8.48	6,748	£57,203.17
				Aggregated	£8.477	6,748	£57,203.17

 

For any queries related to this notification, please contact:

Lee Davis

Corporate Governance & Secretariat

shareholderquestions@hsbc.com

 

 

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