TIDMRB.
RNS Number : 7224L
Reckitt Benckiser Group PLC
01 May 2020
1 May 2020
RECKITT BENCKISER GROUP PLC
DIRECTOR/PDMR SHAREHOLDINGS
Reckitt Benckiser Group plc (the "Company" or "RB") 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 Awards and Share Options
On 1 May 2020, the grant of performance share awards and share
options were made under the LTIP to the Directors and PDMRs listed
below:
Director/PDMR Number of Number of shares
Name share options under performance
award
Director and
Laxman Narasimhan PDMR 150,000 75,000
Director and
Jeff Carr PDMR 80,000 40,000
Harold van den
Broek PDMR 50,000 25,000
Aditya Sehgal PDMR 50,000 25,000
The number of Shares and options shown is the maximum available
if the stretching performance conditions for the three-year
performance period ending on 31 December 2022 are satisfied in
full.
As we set out in the Company's 2019 Annual Report, at the time
of publication of the report the performance conditions for the
2020 LTIP award were still under review by the Remuneration
Committee, following the announcement of the findings of the CEO's
strategic review in late February. The Committee wanted to ensure
that the 2020-2022 LTIP performance measures and targets aligned
with the updated strategic priorities.
Following the strategic announcement, the Remuneration Committee
determined the appropriate performance measures and targets and
carried out a comprehensive consultation with shareholders on the
proposals. The Committee duly considered the feedback from
shareholders before finalising the performance conditions.
The performance conditions that will apply to the 2020 LTIP
awards for the 2020-2022 performance period are set out below. In
line with the Directors' Remuneration Policy, for Executive
Directors there is a further two-year holding period after the end
of the performance period.
Performance Condition Proportion of Target to achieve Target to achieve
2020 Award subject threshold (20%) maximum (100%)
to Performance vesting vesting
Condition
1. Like-for-like
Net Revenue p.a.
(3 year CAGR) 50% 2% 5%
-------------------- ------------------ ------------------
2. EPS (final 12.5% 323 pence 360 pence
year) on a constant
foreign exchange
basis
-------------------- ------------------ ------------------
3. EPS (final 12.5% 302 pence 337 pence
year) on an actual
foreign exchange
basis
-------------------- ------------------ ------------------
4. ROCE (final
year) 25% 11.8% 13.1%
-------------------- ------------------ ------------------
Vesting between achievement of threshold and maximum performance
is on a straight-line basis. In addition to the above performance
conditions, the Remuneration Committee has an overriding discretion
to adjust vesting outcomes where, acting fairly and reasonably, it
considers the formulaic outcome to be inappropriate.
Options will be exercisable at GBP65.20 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 Laxman Narasimhan
------------------------------ ----------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status Director - Chief Executive Officer
------------------------------ ----------------------------------------------
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 of Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
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 of
------------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP65.20 150,000
----------
------------------------------ ----------------------------------------------
d) Aggregated information Aggregate Aggregate Aggregate
* Aggregated volume Price Volume Total
GBP65.20 150,000 GBP9,780,000
---------- -------------
* Price
------------------------------ ----------------------------------------------
e) Date of the transaction 2020-05-01
------------------------------ ----------------------------------------------
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 of Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
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 information
* Aggregated volume n/a
* Price
------------------------------ ----------------------------------------------
e) Date of the transaction 2020-05-01
------------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------ ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jeff Carr
------------------------------ ----------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status Director - Chief Financial Officer
------------------------------ ----------------------------------------------
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 of Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
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 of
------------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP65.20 80,000
----------
------------------------------ ----------------------------------------------
d) Aggregated information Aggregate Aggregate Aggregate
* Aggregated volume Price Volume Total
GBP65.20 80,000 GBP5,216,000
---------- -------------
* Price
------------------------------ ----------------------------------------------
e) Date of the transaction 2020-05-01
------------------------------ ----------------------------------------------
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 of Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
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 40,000
----------
------------------------------ ----------------------------------------------
d) Aggregated information
* Aggregated volume n/a
* Price
------------------------------ ----------------------------------------------
e) Date of the transaction 2020-05-01
------------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------ ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Harold van den Broek
------------------------------ ----------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status PDMR - Chief Operating Officer, Hygiene
Home
------------------------------ ----------------------------------------------
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 of Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
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) GBP65.20 50,000
----------
------------------------------ ----------------------------------------------
d) Aggregated information Aggregate Aggregate Aggregate
* Aggregated volume Price Volume Total
GBP65.20 50,000 GBP3,260,000
---------- -------------
- Price
------------------------------ ----------------------------------------------
e) Date of the transaction 2020-05-01
------------------------------ ----------------------------------------------
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 of Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
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 25,000
----------
------------------------------ ----------------------------------------------
d) Aggregated information
* Aggregated volume n/a
* Price
------------------------------ ----------------------------------------------
e) Date of the transaction 2020-05-01
------------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------ ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Aditya Sehgal
------------------------------ ----------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------------
a) Position/status PDMR - Chief Operating Officer, Health
------------------------------ ----------------------------------------------
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 of Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
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 of
------------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP65.20 50,000
----------
------------------------------ ----------------------------------------------
d) Aggregated information Aggregate Aggregate Aggregate
* Aggregated volume Price Volume Total
GBP65.20 50,000 GBP3,260,000
---------- -------------
* Price
------------------------------ ----------------------------------------------
e) Date of the transaction 2020-05-01
------------------------------ ----------------------------------------------
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 of Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
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 25,000
----------
------------------------------ ----------------------------------------------
d) Aggregated information
* Aggregated volume n/a
* Price
------------------------------ ----------------------------------------------
e) Date of the transaction 2020-05-01
------------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------------ ----------------------------------------------
For further Information:
Rupert Bondy
Company Secretary
Tel +44 (0)1753 217 800
John Dawson
SVP, Investor Relations
Tel. +44 (0)7408 809474
About RB
RB* is driven by its purpose to protect, heal and nurture in a
relentless pursuit of a cleaner, healthier world. We fight to make
access to the highest-quality hygiene, wellness and nourishment a
right, not a privilege, for everyone.
RB is proud to have a stable of trusted household brands found
in households in more than 190 countries. These include Enfamil,
Nutramigen, Nurofen, Strepsils, Gaviscon, Mucinex, Durex, Scholl,
Clearasil, Lysol, Dettol, Veet, Harpic, Cillit Bang, Mortein,
Finish, Vanish, Calgon, Woolite, Air Wick and more. 20 million RB
products a day are bought by consumers globally.
RB's passion to put consumers and people first, to seek out new
opportunities, to strive for excellence in all that we do, and to
build shared success with all our partners, while doing the right
thing, always is what guides the work of our 40,000+ diverse and
talented colleagues worldwide.
For more information visit www.rb.com
*RB is the trading name of the Reckitt Benckiser group of
companies
Reckitt Benckiser Group plc's LEI code is
5493003JFSMOJG48V108
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DSHBUGDUCXGDGGB
(END) Dow Jones Newswires
May 01, 2020 11:41 ET (15:41 GMT)
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