Required for meiosis and spore formation. Seems to be involved in the coordinate induction of late meiotic events. a 1,2-diacyl-sn-glycero-3-phosphocholine + H2O = a 1,2-diacyl-sn-glycero-3-phosphate + choline + H(+) Activity is slightly stimulated by oleate. Belongs to the phospholipase D family.