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Imperial Brands PLC
Remuneration Information • Feb 19, 2024
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Remuneration Information
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RNS Number : 6142D
Imperial Brands PLC
19 February 2024
IMPERIAL BRANDS PLC
Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42
Directors and Persons Discharging Managerial Responsibility ("PDMRs") Interests
Imperial Brands PLC (the "Company") Long Term Incentive Plan
Grant of 2024 LTIP awards
On 15 February 2024, the Company made the following grant of awards under the Imperial Brands Long Term Incentive Plan (the "LTIP") to PDMRs:
| PDMR | No. of shares under LTIP award granted |
| Stefan Bomhard | 258,991 |
| Lukas Paravicini | 104,329 |
| Alison Clarke | 62,218 |
| Javier Huerta | 62,066 |
| Murray McGowan | 52,877 |
| Paola Pocci | 63,424 |
| Kim Reed * | 71,618 |
| Ales Struminsky | 45,714 |
* The award which was granted to Kim Reed was comprised of two elements:
The first element of Ms Reed's award was granted over 35,809 shares in Imperial Brands PLC. This element has been granted as a conditional award under the LTIP and is subject to the performance conditions and terms which are applicable to all other 2024 LTIP awards granted on the same date (as outlined above). This element of Ms Reed's LTIP award will vest on or about 15 February 2027, subject to the extent to which the applicable performance conditions have been met; and
The second element of Ms Reed's award was granted over a further 35,809 shares in Imperial Brands PLC. This element has been granted as a conditional award under the LTIP and is not subject to any performance conditions (although it remains subject to the rules of the LTIP, including applicable malus and clawback provisions and the ability of the Remuneration Committee to adjust the vesting outcome of such award on a discretionary basis). This element of Ms Reed's LTIP award will vest in three tranches of 11,936 shares on 15 February 2025, 11,936 shares on 15 February 2026 and11,937 shares on 15 February 2027.
Further to its 2023 Annual Report and Accounts, the Company confirms that the performance measures and targets (which should not be construed as guidance) in respect of the Imperial Brands LTIP grant made on 15 February 2024 are:
| Weight | Cut-in | Target | Max | |
| EPS Growth | 40% | 3.9% | 4.8% | 5.8% |
| ROIC | 15% | 19.1% | 21.1% | 21.9% |
| CFCF (£m) | 15% | 5,900 | 6,700 | 7,500 |
| Relative TSR | 20% | Median | N/A | Upper quart. |
| Scope 1 & 2 carbon emissions | 5% | 70.0% | 72.0% | 75.0% |
| Energy consumption | 5% | 4.5% | 6.0% | 7.5% |
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 LTIP to adjust up or down including to zero the number of shares that vest taking into account a number of factors including personal or corporate performance and circumstances that were unforeseen at the date of grant.
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
STEFAN BOMHARD
2
Reason for the notification
a)
Position/status
EXECUTIVE DIRECTOR - CHIEF EXECUTIVE 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
AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| NOT APPLICABLE | 258,991 |
d)
Aggregated information
- Aggregated volume
- Price
258,991
NOT APPLICABLE
e)
Date of the transaction
15 FEBRUARY 2024
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
LUKAS PARAVICINI
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
AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| NOT APPLICABLE | 104,329 |
d)
Aggregated information
- Aggregated volume
- Price
104,329
NOT APPLICABLE
e)
Date of the transaction
15 FEBRUARY 2024
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
ALISON CLARKE
2
Reason for the notification
a)
Position/status
PDMR - CHIEF PEOPLE AND CULTURE 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
AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| NOT APPLICABLE | 62,218 |
d)
Aggregated information
- Aggregated volume
- Price
62,218
NOT APPLICABLE
e)
Date of the transaction
15 FEBRUARY 2024
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
JAVIER HUERTA
2
Reason for the notification
a)
Position/status
PDMR - CHIEF SUPPLY CHAIN 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
AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| NOT APPLICABLE | 62,066 |
d)
Aggregated information
- Aggregated volume
- Price
62,066
NOT APPLICABLE
e)
Date of the transaction
15 FEBRUARY 2024
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
MURRAY MCGOWAN
2
Reason for the notification
a)
Position/status
PDMR - CHIEF STRATEGY AND DEVELOPMENT 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
AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| NOT APPLICABLE | 52,877 |
d)
Aggregated information
- Aggregated volume
- Price
52,877
NOT APPLICABLE
e)
Date of the transaction
15 FEBRUARY 2024
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
PAOLA POCCI
2
Reason for the notification
a)
Position/status
PDMR - CHIEF CONSUMER OFFICER AND PRESIDENT, AFRICA, ASIA, AUSTRALASIA AND CENTRAL & EASTERN EUROPE REGION
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
AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| NOT APPLICABLE | 63,424 |
d)
Aggregated information
- Aggregated volume
- Price
63,424
NOT APPLICABLE
e)
Date of the transaction
15 FEBRUARY 2024
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
KIMBERLY REED
2
Reason for the notification
a)
Position/status
PDMR - PRESIDENT AND CEO, AMERICAS REGION
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
A) AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
B) DISCRETIONARY AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN VESTING IN 3 TRANCHES OF 11,936, 11,936 AND 11,937 ON 15 FEBRUARY 2025, 15 FEBRUARY 2026 AND 15 FEBRUARY 2027 RESPECTIVELY
c)
Price(s) and volume(s)
| Price(s) | Volume(s) | |
| A) | NOT APPLICABLE | 35,809 |
| B) | NOT APPLICABLE | 35,809 |
d)
Aggregated information
- Aggregated volume
- Price
71,618
NOT APPLICABLE
e)
Date of the transaction
15 FEBRUARY 2024
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
ALES STRUMINSKY
2
Reason for the notification
a)
Position/status
PDMR - PRESIDENT, EUROPE REGION
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
AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)
Price(s) and volume(s)
| Price(s) | Volume(s) |
| NOT APPLICABLE | 45,714 |
d)
Aggregated information
- Aggregated volume
- Price
45,714
NOT APPLICABLE
e)
Date of the transaction
15 FEBRUARY 2024
f)
Place of the transaction
OUTSIDE A TRADING VENUE
Chris Winters
Deputy Company Secretary
Copies of our announcements are available on our website: https://www.imperialbrandsplc.com/creating-shareholder-value/stock-exchange-announcements
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