Diageo PLC — Remuneration Information 2016

Mar 9, 2016

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RNS Number : 5833R

Diageo PLC

09 March 2016

TO:      Regulatory Information Service

RE:      Paragraph 3.1.4 of the Disclosure and Transparency Rules

The notifications listed below were received under Paragraph 3.1.2 of the Disclosure and Transparency Rules.

Diageo plc (the "Company") announces that:

1.   It received notification on 8 March 2016 that on 7 March 2016 the Company released 3,356 American Depositary Shares ("ADSs)* to John Kennedy, a person discharging managerial responsibility ("PDMR") under the Company's 2008 Performance Share Plan ("PSP").  The awards were made on 7 March 2013 and vested at a level of 33%.  Also released were 350 ADSs that were accrued in respect of notional dividends under the PSP during the period. 

Mr Kennedy subsequently sold 1,819** ADS at a price per ADS of $104.80 on the New York Stock Exchange. Mr Kennedy retains the balance of 1,887 ADS.

2.   It received notification on 8 March 2016 that on 3 March 2016 Deirdre Mahlan, a PDMR, was granted the following conditional awards over ordinary shares of 28 101/108 pence in the Company ("Ordinary Shares") (in the form of ADS Restricted Stock Units ("RSUs")), under the Company's 2014 Long Term Incentive Plan, adopted by the Company's shareholders on 18 September 2014 ("DLTIP"). There are performance conditions attached to the release of this award under the DLTIP, and the award will vest, subject to achievement of the performance conditions, as shown below:

Name of PDMR	Number of ADS RSUs	March 2019	March 2020
D Mahlan	21,926	50%	50%

3.   It received notification on 9 March 2016 that on 8 March 2016 the Company released 19,523 ADSs to Ivan Menezes, a director of the Company, in respect of an award made under the Company's Discretionary Incentive Plan ("DIP") on 8 March 2012.

Mr Menezes subsequently sold 11,118** ADS at a price per ADS of $105.43 on the New York Stock Exchange.  Mr Menezes retains the balance of 8,405 ADS.

As a result of the above transactions the interests of the director and PDMR in the Company's ordinary shares of 28 101/108 pence each in the Company ("Ordinary Shares") and ADS's (excluding options, awards under the Company's LTIPs and interests as potential beneficiaries of the Company's Employee Benefit Trusts) are as follows:

Name of Director	No. of Ordinary Shares
I Menezes	864,714 (of which 771,716 held as ADS)
Name of PDMR
J Kennedy	65,785 (of which 61,189 held as ADS)
D Mahlan	307,101 (of which 137,872 held as ADS)

V Cooper

Assistant Company Secretary

9 March 2016

*1 ADS is the equivalent of 4 Ordinary Shares.

** ADS have been sold to meet the requirement to reimburse the Company for PAYE tax and National Insurance/social security liabilities on awards released under the PSP and DIP.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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