Reckitt Benckiser Group PLC Director/PDMR Shareholding (6216Y)
07 September 2022 - 09:00PM
UK Regulatory
TIDMRKT
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 ("2022 LTIP award") was made under the
LTIP to the Director/PDMR listed below:
Director/PDMR Number of Number of performance
Name performance shares
share options
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% (100% vesting)
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 GBP64.77 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/ Initial notification
Amendment
---------------------- -----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
of the financial Benckiser Group plc
instrument, GB00B24CGK77 - ID code for ordinary shares
type of instrument
Identification
code
---------------------- -----------------------------------------------
b) Nature of the Grant of share options for nil consideration
transaction under the Reckitt Benckiser Group plc
2015 Long-Term Incentive Plan
---------------------- -----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 150,000
----------
---------------------- -----------------------------------------------
d) Aggregated Aggregate Aggregate Aggregate
information Price Volume Total
- Aggregated Nil 150,000 Nil
volume - Price ---------- ----------
---------------------- -----------------------------------------------
e) Date of the 2022-09-06
transaction
---------------------- -----------------------------------------------
f) Place of the Outside a trading venue
transaction
---------------------- -----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
of the financial Benckiser Group plc
instrument, GB00B24CGK77 - ID code for ordinary shares
type of instrument
Identification
code
---------------------- -----------------------------------------------
b) Nature of the Grant of performance share awards for
transaction nil consideration under the Reckitt Benckiser
Group plc 2015 Long-Term Incentive Plan
---------------------- -----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 75,000
----------
---------------------- -----------------------------------------------
d) Aggregated Aggregate Aggregate Aggregate
information Price Volume Total
- Aggregated Nil 75,000 Nil
volume ---------- ----------
- Price
---------------------- -----------------------------------------------
e) Date of the 2022-09-06
transaction
---------------------- -----------------------------------------------
f) Place of the Outside a trading venue
transaction
---------------------- -----------------------------------------------
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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