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Imperial Brands PLC (IMB)

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Tuesday 18 February, 2020

Imperial Brands PLC

Director/PDMR Shareholding

RNS Number : 3706D
Imperial Brands PLC
18 February 2020
 

Directors and Persons Discharging Managerial Responsibility ("PDMRs") Interests

 

Imperial Brands PLC (the "Company") Long Term Incentive Plan

 

On 17 February 2020, the Company made the following grant of awards under the Imperial Brands Long Term Incentive Plan (the "LTIP") to PDMRs:

 

PDMR

No. of LTIP awards granted

Oliver Tant

102,739

Walter Prinz

53,253

Dominic Brisby

55,890

Joerg Biebernick

53,150

David Newns

24,657

 

The Remuneration Committee is cognisant of the current share price and the impact this has on the number of shares awarded if the same percentage of salary was maintained as in previous years.  On this occasion the Remuneration Committee has decided that shareholder interests are best served by making awards linked to a percentage of base salary in line with previous years. 

 

Further to the commitment in its Annual Report and Accounts 2019, the Company confirms that the performance measures in respect of the Annual Imperial Brands LTIP grant made on 17 February 2020 will be: 

 

Earnings per Share Element

This criterion is used for 40 per cent of the award with the following vesting schedule:

 

Compound annual adjusted EPS growth*

Shares vesting (as a percentage of element)

Less than 2% per annum

nil

2% per annum

25%

2% to 6% per annum

Between 25% and 100% (pro rata)

6% per annum or higher

100%

*As per the Remuneration Committee's decision in 2014, and all awards since 2015, EPS growth and net revenue growth are measured at constant currency.

 

Total Net Revenue Growth Element

The net revenue growth criterion is used for 40 per cent of the award with the following vesting schedule:

 

Compound annual growth in net revenue**

Shares vesting (as a percentage of element)

Less than 1% per annum

nil

1% per annum

25%

1% to 4% per annum

Between 25% and 100% (pro rata)

4% per annum or higher

100%

**As per the Remuneration Committee's decision in 2014, and all awards since 2015, EPS growth and net revenue growth are measured at constant currency.

Total Shareholder Return Element

The relative total shareholder return ("TSR") criterion is used for 20 per cent of the award. The peer group used for the assessment of relative TSR now reflects a more relevant group of companies in the consumer goods sector. The companies in the revised peer group are:

 

Altria Group

Anheuser-Busch InBev

Beiersdorf

British American Tobacco

Brown-Forman

Carlsberg

Clorox

Constellation Brands

Diageo

Heineken

Henkel

Japan Tobacco

Kimberly-Clark

Kirin Holdings

L'Oreal

Monster Beverage

Pernod Ricard

Pepsico

Philip Morris International

Procter & Gamble

Reckitt Benckiser Group

Swedish Match

Uni Charm

Unilever PLC


 

Vesting of awards on this element would occur as per the vesting schedule below:

 

Relative TSR performance

Shares vesting (as percentage of element)

Below median of peer group

nil

At median of peer group

25%

Between median and upper quartile

Between 25% and 100% (pro rata)

At or above upper quartile

100%

 

Each element operates independently and is capable of vesting regardless of the Company's performance in respect of the other elements.

 

The Remuneration Committee retains the discretion under the rules of the plan to reduce the level of vesting determined by an assessment of the performance conditions, if it is considered to be appropriate having regard to such factors as the Committee considers relevant

 

There is no opportunity to retest if any of the performance criteria are not achieved.

 

Details of individual awards are provided below:

 

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

 

OLIVER REGINALD TANT

2

 

Reason for the notification

 

a)

 

Position/status

 

EXECUTIVE DIRECTOR - CHIEF FINANCIAL OFFICER

b)

 

Initial notification /Amendment

 

INITIAL NOTIFICATION

3

 

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

a)

 

Name

 

IMPERIAL BRANDS PLC

b)

 

LEI

 

549300DFVPOB67JL3A42

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

 

 

GB0004544929

b)

 

Nature of the transaction

 

LAPSING OF AWARD UNDER LONG TERM INCENTIVE PLAN

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

 

Price(s)

 

Volume(s)

 

Not Applicable

 

LAPSED 47,049

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

LAPSED 47,049

 

NOT APPLICABLE

 

e)

 

Date of the transaction

 

17 FEBRUARY 2020

 

f)

 

Place of the transaction

 

OUTSIDE A TRADING VENUE

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

 

OLIVER REGINALD TANT

2

 

Reason for the notification

 

a)

 

Position/status

 

EXECUTIVE DIRECTOR - CHIEF FINANCIAL OFFICER

b)

 

Initial notification /Amendment

INITIAL NOTIFICATION

3

 

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

a)

 

Name

 

IMPERIAL BRANDS PLC

b)

 

LEI

 

549300DFVPOB67JL3A42

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

 

GB0004544929

b)

 

Nature of the transaction

 

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

 

Price(s)

 

Volume(s)

 

NOT APPLICABLE

 

102,739

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

102,739

 

NOT APPLICABLE

e)

 

Date of the transaction

 

17 FEBRUARY 2020

f)

 

Place of the transaction

 

OUTSIDE A TRADING VENUE

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

 

WALTER NORBERT PRINZ

2

 

Reason for the notification

 

a)

 

Position/status

 

PDMR - GROUP MANUFACTURING AND SUPPLY CHAIN DIRECTOR

b)

 

Initial notification /Amendment

 

INITIAL NOTIFICATION

3

 

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

a)

 

Name

 

IMPERIAL BRANDS PLC

b)

 

LEI

 

549300DFVPOB67JL3A42

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

 

GB0004544929

b)

 

Nature of the transaction

 

LAPSING OF AWARD UNDER LONG TERM INCENTIVE PLAN

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

 

 

Price(s)

 

Volume(s)

 

Not Applicable

 

LAPSED 17,947

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

LAPSED 17,947

 

NOT APPLICABLE

 

e)

 

Date of the transaction

 

17 February 2020

f)

 

Place of the transaction

 

OUTSIDE A TRADING VENUE

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

 

WALTER NORBERT PRINZ

 

2

 

Reason for the notification

a)

 

Position/status

 

PDMR - GROUP MANUFACTURING AND SUPPLY CHAIN DIRECTOR

b)

 

Initial notification /Amendment

INITIAL NOTIFICATION

3

 

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

a)

 

Name

 

IMPERIAL BRANDS PLC

b)

 

LEI

 

549300DFVPOB67JL3A42

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

 

GB0004544929

b)

 

Nature of the transaction

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

 

Price(s)

 

Volume(s)

 

NOT APPLICABLE

 

53,253

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

53,253

 

NOT APPLICABLE

 

e)

 

Date of the transaction

 

17 FEBRUARY 2020

f)

 

Place of the transaction

 

OUTSIDE A TRADING VENUE

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

 

DOMINIC JAMES BRISBY

2

 

Reason for the notification

 

a)

 

Position/status

 

PDMR - JOINT INTERIM CHIEF EXECUTIVE OFFICER AND DIVISION DIRECTOR, AMERICAS, AFRICA, ASIA & AUSTRALASIA

b)

 

Initial notification /Amendment

 

INITIAL NOTIFICATION

3

 

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

a)

 

Name

 

IMPERIAL BRANDS PLC

b)

 

LEI

 

549300DFVPOB67JL3A42

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

 

GB0004544929

b)

 

Nature of the transaction

 

LAPSING OF AWARD UNDER LONG TERM INCENTIVE PLAN

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

 

Price(s)

 

Volume(s)

 

Not Applicable

 

LAPSED 16,061

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

LAPSED 16,061

 

NOT APPLICABLE

 

e)

 

Date of the transaction

 

17 FEBRUARY 2020

f)

 

Place of the transaction

 

OUTSIDE A TRADING VENUE

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

 

DOMINIC JAMES BRISBY

2

 

Reason for the notification

a)

 

Position/status

 

PDMR - JOINT INTERIM CHIEF EXECUTIVE OFFICER AND DIVISION DIRECTOR, AMERICAS, AFRICA, ASIA & AUSTRALASIA

b)

 

Initial notification /Amendment

INITIAL NOTIFICATION

3

 

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

a)

 

Name

 

IMPERIAL BRANDS PLC

b)

 

LEI

 

549300DFVPOB67JL3A42

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

 

 

GB0004544929

b)

 

Nature of the transaction

 

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

 

Price(s)

 

Volume(s)

 

NOT APPLICABLE

 

55,890

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

55,890

 

NOT APPLICABLE

 

e)

 

Date of the transaction

 

17 FEBRUARY 2020

f)

 

Place of the transaction

 

OUTSIDE A TRADING VENUE

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

 

JOERG BIEBERNICK

2

 

Reason for the notification

a)

 

Position/status

 

PDMR - JOINT INTERIM CHIEF EXECUTIVE OFFICER AND DIVISION DIRECTOR, EUROPE

b)

 

Initial notification /Amendment

INITIAL NOTIFICATION

3

 

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

a)

 

Name

 

IMPERIAL BRANDS PLC

b)

 

LEI

 

549300DFVPOB67JL3A42

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

 

 

GB0004544929

b)

 

Nature of the transaction

 

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

 

Price(s)

 

Volume(s)

 

NOT APPLICABLE

 

53,150

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

53,150

 

NOT APPLICABLE

 

e)

 

Date of the transaction

 

17 FEBRUARY 2020

f)

 

Place of the transaction

 

OUTSIDE A TRADING VENUE

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

 

DAVID THOMAS NEWNS

2

 

Reason for the notification

a)

 

Position/status

 

PDMR - GROUP INNOVATION AND SCIENCE DIRECTOR

b)

 

Initial notification /Amendment

INITIAL NOTIFICATION

3

 

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

a)

 

Name

 

IMPERIAL BRANDS PLC

b)

 

LEI

 

549300DFVPOB67JL3A42

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

 

 

GB0004544929

b)

 

Nature of the transaction

 

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

 

Price(s) and volume(s)

 

 

 

 

 

 

 

Price(s)

 

Volume(s)

 

NOT APPLICABLE

 

24,657

 

d)

 

Aggregated information

 

- Aggregated volume

 

- Price

 

 

 

24,657

 

NOT APPLICABLE

e)

 

Date of the transaction

 

17 FEBRUARY 2020

f)

 

Place of the transaction

 

OUTSIDE A TRADING VENUE

 

Trevor Williams

Deputy Company Secretary

Copies of our announcements are available on our website:  www.imperialbrandsplc.com/Investors/Stock-Exchange-announcements

 


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