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  

(Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934).

      Yes                   No X

(If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82-   ).

HSBC HOLDINGS PLC

16 March 2023

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

1.   Annual Incentive awards (Performance Year 2017)

Deferred awards (the "Awards") of US$0.50 ordinary shares (the "Shares") in HSBC Holdings plc (the "Company") were granted in 2018 as a part of variable pay for the performance year ended 31 December 2017.

On 14 March 2023, tranches of the Awards granted in 2018 vested and the following transactions took place in London:

Directors

Name	Total number of Shares vested	Number of Shares sold at £5.671041per Share1
Noel Quinn	21,504	10,107

Other PDMRs

Name	Total number of Shares vested	Number of Shares sold at £5.671041 per Share1
Colin Bell	14,943	7,024
Pam Kaur	15,631	7,347
Stephen Moss	13,664	3,781
Barry O'Byrne	7,694	2,725
Ian Stuart	13,488	6,340

1Includes 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 Stephen Moss and Barry O'Byrne who are subject to a six-month retention period.

2.   Annual Incentive awards (Performance Year 2020)

Deferred awards (the "Awards") of US$0.50 ordinary shares (the "Shares") in HSBC Holdings plc (the "Company") were granted in 2021 as a part of variable pay for the performance year ended 31 December 2020.

On 14 March 2023, tranches of the Awards granted in 2021 vested and the following transactions took place in London:

Name	Total number of Shares vested	Number of Shares sold at £5.671041per Share1
David Liao	18,753	-
Stephen Moss	19,168	394
Michael Roberts	46,879	23,932
Surendra Rosha	23,395	3,510

1Includes 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 David Liao who is subject to a six-month retention period.

3.   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 15 March 2023, the first tranche of the Awards granted in 2022 vested and the following transactions took place in London:

Name	Total number of Shares vested	Number of Shares sold at £5.60841per Share1
David Liao	27,591	-
Stephen Moss	17,241	-
Michael Roberts	43,415	22,164
Surendra Rosha	27,591	-

1Includes 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.

For the purpose of the below disclosures, the value of the Awards which vestedon 14 and 15 March 2023 has been calculated using the closing Share price on the London Stock Exchange on 10 March 2023 of £5.9260.

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				Noel Quinn
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
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	21,504	£127,432.70
			Aggregated	£5.926	21,504	£127,432.70
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Disposal			Price	Volume	Total
				£5.67	10,107	£57,317.21
			Aggregated	£5.671	10,107	£57,317.21

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person				Colin Bell
2 - Reason for the notification
Position/status				Chief Executive, HSBC Bank plc and HSBC Europe
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
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	14,943	£88,552.22
			Aggregated	£5.926	14,943	£88,552.22
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Disposal			Price	Volume	Total
				£5.67	7,024	£39,833.39
			Aggregated	£5.671	7,024	£39,833.39

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 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
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	15,631	£92,629.31
			Aggregated	£5.926	15,631	£92,629.31
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Disposal			Price	Volume	Total
				£5.67	7,347	£41,665.14
			Aggregated	£5.671	7,347	£41,665.14

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-Pacific - The Hongkong and Shanghai Banking Corporation Limited
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
	2023-03-14	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
				£5.93	18,753	£111,130.28
			Aggregated	£5.926	18,753	£111,130.28
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-15	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
				£5.93	27,591	£163,504.27
			Aggregated	£5.926	27,591	£163,504.27

1 - Details of the person discharging managerial responsibilities / person closely associated
Name of natural person				Stephen Moss
2 - Reason for the notification
Position/status				Regional Chief Executive, Middle East, North Africa and Türkiye
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
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	32,832	£194,562.43
			Aggregated	£5.926	32,832	£194,562.43
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Disposal			Price	Volume	Total
				£5.67	4,175	£23,676.60
			Aggregated	£5.671	4,175	£23,676.60
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-15	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	17,241	£102,170.17
			Aggregated	£5.926	17,241	£102,170.17

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, Global Commercial 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
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	7,694	£45,594.64
			Aggregated	£5.926	7,694	£45,594.64
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Disposal			Price	Volume	Total
				£5.67	2,725	£15,453.59
			Aggregated	£5.671	2,725	£15,453.59

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 USA and Americas
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
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	46,879	£277,804.95
			Aggregated	£5.926	46,879	£277,804.95
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Disposal			Price	Volume	Total
				£5.67	23,932	£135,719.35
			Aggregated	£5.671	23,932	£135,719.35
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-15	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	43,415	£257,277.29
			Aggregated	£5.926	43,415	£257,277.29
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-15	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Disposal			Price	Volume	Total
				£5.61	22,164	£124,304.80
			Aggregated	£5.608	22,164	£124,304.80

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-Pacific - The Hongkong and Shanghai Banking Corporation Limited
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
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	23,395	£138,638.77
			Aggregated	£5.926	23,395	£138,638.77
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Disposal			Price	Volume	Total
				£5.67	3,510	£19,905.35
			Aggregated	£5.671	3,510	£19,905.35
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-15	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	27,591	£163,504.27
			Aggregated	£5.926	27,591	£163,504.27

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
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Acquisition under the HSBC Share Plan 2011			Price	Volume	Total
				£5.93	13,488	£79,929.89
			Aggregated	£5.926	13,488	£79,929.89
	Date of Transaction	Financial Instrument	Identification Code	Place of Transaction		Currency
	2023-03-14	Ordinary shares of US$0.50 each	GB0005405286	London Stock Exchange, Main Market (XLON)		GBP - British Pound
	Nature of Transaction: Disposal			Price	Volume	Total
				£5.67	6,340	£35,954.40
			Aggregated	£5.671	6,340	£35,954.40

Forany queries related to this notification, please contact:

Bayo Adeyeye

Corporate Governance & Secretariat

+44 (0) 203 359 2160

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: 16 March 2023