TIDMRB.
RNS Number : 4535H
Reckitt Benckiser Group PLC
24 March 2020
24 March 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").
1. Vesting of Replacement Award
As previously announced on 6 August 2019, Laxman Narasimhan,
Chief Executive Officer, was granted an award over a maximum of
71,557 RB Shares, plus dividend equivalents. The award was made to
compensate for remuneration arrangements forfeited by Mr Narasimhan
on leaving his previous employer, Pepsico and was based on Pepsico
Inc.'s (Pepsico) performance over the three-year period which ended
in December 2019. Following the publication of Pepsico's proxy
report, on 23 March 2020 the vesting of his award was confirmed at
75.6% of the target amount of 40,890 Shares, which equated to
30,913 Shares, plus dividend equivalents amounting to 344
Shares. The balance of the shares have lapsed.
On 23 March 2020, 31,257 Shares were released to Mr Narasimhan.
He retained the net balance of 16,539 Shares, following the sale of
14,718 Shares on the same day at GBP58.3309 per Share to realise
sufficient funds to settle resultant tax and social security
liabilities. The award was satisfied using market purchased shares.
Following this transaction, Mr Narasimhan's beneficial holding has
increased to 33,780 Shares, representing 0.0048% of the total
voting rights of the Company.
Mr Narasimhan's remuneration for 2019, including details of
these shares, will be set out in detail in RB's 2019 Annual
Report.
2. Grant of Deferred Bonus Share Awards
On 23 March 2020, the grant of conditional share awards in
respect of the year ended 31 December 2019 were made under the
Reckitt Benckiser Group Deferred Bonus Plan ("DBP") to the
Directors and PDMRs listed below:
Director/PDMR Number of shares
Name under award
L axman Narasimhan Director 1,259
--------------- -----------------
Adrian Hennah Director 1,632
--------------- -----------------
Aditya Sehgal PDMR 362
--------------- -----------------
Harold van den Broek PDMR 604
--------------- -----------------
Under the DBP, one-third of the bonus that would otherwise have
been payable in cash is instead delivered in the form of
conditional share awards. The awards were made on a pre-tax basis
and granted on the basis of an average share price of GBP58.35.
These awards will normally vest in full (together with dividend
equivalents in cash or ordinary shares) on the third anniversary of
the award date and be released as soon as practicable thereafter.
No consideration was paid for the grant of these awards.
In addition, based on his forfeited Pepsico annual bonus award
for 2019, on the same day Mr Narasimhan was granted a conditional
share award over 3,832 Shares, being the equivalent of one-third of
the payment made by RB in respect of the Pepsico bonus that was
forfeited by joining RB. Full details of these arrangements are set
out in the 2019 Annual Report. The award was made on the same terms
as the other aforementioned awards under the DBP. No consideration
was paid for the grant of this award.
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 the financial instrument, type of Ordinary shares of 10p each in Reckitt Benckiser Group
instrument plc
Identification code
GB00B24CGK77
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Vesting of replacement share awards in relation to
former employment with Pepsico, Inc.
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 31,257
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information
Aggregated volume N/A
Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-03-23
-------------------------------------------------------- -------------------------------------------------------
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 Ordinary shares of 10p each in Reckitt Benckiser Group
instrument plc
Identification code GB00B24CGK77 - ID code for ordinary shares
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Sale of shares
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
GBP58.3309 14,718
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information Aggregate Aggregate Aggregate
* Aggregated volume Price Volume Total
GBP58.3309 14,718 GBP858,514.19
---------- --------------
* Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-03-23
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction London Stock Exchange, Main Market - XLON
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Ordinary shares of 10p each in Reckitt Benckiser Group
instrument plc
Identification code
GB00B24CGK77
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of conditional share awards for nil
consideration under the Reckitt Benckiser Group
Deferred Bonus Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 5,091
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information
Aggregated volume N/A
Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-03-23
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
1 Details of the person discharging managerial responsibilities / person closely associated
a) Name Adrian Hennah
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Ordinary shares of 10p each in Reckitt Benckiser Group
instrument plc
Identification code
GB00B24CGK77
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of conditional share awards for nil
consideration under the Reckitt Benckiser Group
Deferred Bonus Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 1,632
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information
Aggregated volume N/A
Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-03-23
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Ordinary shares of 10p each in Reckitt Benckiser Group
instrument plc
Identification code
GB00B24CGK77
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of conditional share awards for nil
consideration under the Reckitt Benckiser Group
Deferred Bonus Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 362
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information N/A
* Aggregated volume
* Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-03-23
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
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 the financial instrument, type of Ordinary shares of 10p each in Reckitt Benckiser Group
instrument plc
Identification code
GB00B24CGK77
-------------------------------------------------------- -------------------------------------------------------
b) Nature of the transaction Grant of conditional share awards for nil
consideration under the Reckitt Benckiser Group
Deferred Bonus Plan
-------------------------------------------------------- -------------------------------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
Nil 604
----------
-------------------------------------------------------- -------------------------------------------------------
d) Aggregated information N/A
* Aggregated volume
* Price
-------------------------------------------------------- -------------------------------------------------------
e) Date of the transaction 2020-03-23
-------------------------------------------------------- -------------------------------------------------------
f) Place of the transaction Outside a trading venue
-------------------------------------------------------- -------------------------------------------------------
For further Information:
John Dawson / Richard Joyce Tel. +44 (0)1753 217 800
SVP, Investor Relations
Rupert Bondy
General Counsel & Company Secretary
Reckitt Benckiser Group plc's LEI code is
5493003JFSMOJG48V108
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
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END
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