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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END

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September 07, 2022 07:00 ET (11:00 GMT)

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