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 April 2008

                               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- ..............)





NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
                            AND/OR CONNECTED PERSONS



This notification relates to a transaction notified in accordance with DTR 3.1.2
R and 3.1.4 R (1)(a)

     

1      Name of the issuer

       HSBC Holdings plc

2      Name of the person discharging managerial responsibilities or, where
       applicable, the name of the person connected with a person discharging
       managerial responsibilities

       C C R Bannister, a person discharging managerial responsibilities



3      Description of shares (including class), debentures, derivatives or any
       other financial instruments relating to shares

       US$0.50 ordinary shares

4      State the nature of the transactions

       Release of 2005 Performance Share award (EPS element) of 32,794 shares
       under the HSBC Share Plan. The trustees of the Plan sold 13,445 shares to
       meet the tax liability and have transferred 19,349 into the name of
       C C R Bannister

5      Number of shares, derivatives or any other financial instruments relating
       to shares acquired

       Acquisition of 19,349 shares from the release of 2005 Performance Share
       award (EPS element) under the HSBC Share Plan.

6      Number of shares, derivatives or any other financial instruments relating
       to shares disposed

       13,445

7      Price per share of shares sold

       GBP8.558621

8      Date and place of transaction

       1 April 2008, London

9      Date issuer informed of transaction

       2 April 2008

10     Name of duly authorised officer/official of issuer responsible for making
       notification

       Paul Stafford, Deputy Group Company Secretary, 020 7992 1509

11     Date of notification

       2 April 2008






                                    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:  P A Stafford
                                                Title: Assistant Group Secretary
                                                Date:  02 April 2008