Director/PDMR Shareholding

RNS Number : 6216Y
Reckitt Benckiser Group PLC
07 September 2022
 

7 September 2022 

 

RECKITT BENCKISER GROUP PLC

 

DIRECTOR/PDMR SHAREHOLDING

 

 

Reckitt Benckiser Group plc (the "Company" or "Reckitt") announces the following changes in the interests of Directors and Persons Discharging Managerial Responsibility ("PDMR") in ordinary shares of 10 pence each in the share capital of the Company ("Shares").

 

2015 Long Term Incentive Plan ("LTIP")

 

Grant of Performance Share Options and Performance Share Awards

 

On 6 September 2022, the grant of performance share options and performance share awards ("2022LTIP award") was made under the LTIP to the Director/PDMR listed below:

 

 

Name

Director/PDMR

Number of performance

share options

Number of performance shares

Nicandro Durante

Director and PDMR

150,000

75,000

 

 

The number of performance share options and performance share awards shown is the maximum available if the stretching performance conditions for the three-year performance period ending on 31 December 2024 are satisfied in full. 

 

The targets that will apply to the 2022 LTIP awards for the 2022-2024 performance period are set out below. 

 

 Performance Condition

Threshold*

Maximum*

Proportion of award

(20% vesting)

(100% vesting)

Net Revenue (NR) Growth   - measured on a like-for-like (LFL) compound annual growth basis (CAGR) over three years

2.0%

5.0%

40%

Return on Capital Employed (ROCE)   - measured in the final year of performance

13.2%

15.2%

25%

Relative Total Shareholder Return (relative TSR)   - measured against a group of 19 peer companies over three years

Median

Upper quartile

25%

% of net revenue from more sustainable products   - measured in the final year of performance

30%

33%

5%

% reduction in Greenhouse Gas (GHG) emissions in operations   - measured in the final year of performance

65%

69%

5%

 

 



Vesting between achievement of threshold and maximum performance is on a straight-line basis. In addition to the above performance conditions, before determining the final vesting level, the Remuneration Committee will continue to take a broader assessment of performance in the round and has an overriding discretion to adjust vesting outcomes where, acting fairly and reasonably, it considers the formulaic outcome to be inappropriate. 

 

In line with the Directors' Remuneration Policy, for Executive Directors there is a further two-year holding period commencing after the end of the performance period.

 

Performance share options will be exercisable at 64.77 per share. No consideration was paid for the grant of these awards.

 

 

The following notifications are made in accordance with DTR 3.1.2-A, incorporating article 19(1) of the Market Abuse Regulation.

 

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

 

1

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Nicandro Durante

2

Reason for the notification

a)

Position/status

Chief Executive Officer Designate

b)

Initial notification/
Amendment

Initial notification

3

Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor

a)

Name

Reckitt Benckiser Group plc

b)

LEI

5493003JFSMOJG48V108

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10p each in Reckitt Benckiser Group plc

GB00B24CGK77 - ID code for ordinary shares

b)

Nature of the transaction

Grant of share options for nil consideration under the Reckitt Benckiser Group plc 2015 Long-Term Incentive Plan

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

150,000

 

d)

Aggregated information

Aggregated volume Price

Aggregate Price

Aggregate Volume

Aggregate Total

Nil

150,000

Nil

 

 

 

 

e)

Date of the transaction

2022-09-06

f)

Place of the transaction

Outside a trading venue

4

Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted

a)

Description of the financial instrument, type of instrument

Identification code

Ordinary shares of 10p each in Reckitt Benckiser Group plc

GB00B24CGK77 - ID code for ordinary shares

b)

Nature of the transaction

Grant of performance share awards for nil consideration under the Reckitt Benckiser Group plc 2015 Long-Term Incentive Plan

 

c)

Price(s) and volume(s)

 

Price(s)

Volume(s)

Nil

75,000

 

d)

Aggregated information

Aggregated volume

Price

 

Aggregate Price

Aggregate Volume

Aggregate Total

Nil

75,000

Nil

e)

Date of the transaction

2022-09-06

f)

Place of the transaction

Outside a trading venue

 

 

For further Information:
Catheryn O'Rourke

Company Secretary

Tel +44 (0)1753 217 800

 

Richard Joyce

Investor Relations Director

Tel +44 (0) 7408 812 062

 

Reckitt Benckiser Group plc's LEI code is 5493003JFSMOJG48V108

 

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