Imperial Brands PLC

Remuneration Information • Feb 18, 2020

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RNS Number : 3706D

Imperial Brands PLC

18 February 2020

Directors and Persons Discharging Managerial Responsibility ("PDMRs") Interests

Imperial Brands PLC (the "Company") Long Term Incentive Plan

On 17 February 2020, the Company made the following grant of awards under the Imperial Brands Long Term Incentive Plan (the "LTIP") to PDMRs:

PDMR	No. of LTIP awards granted
Oliver Tant	102,739
Walter Prinz	53,253
Dominic Brisby	55,890
Joerg Biebernick	53,150
David Newns	24,657

The Remuneration Committee is cognisant of the current share price and the impact this has on the number of shares awarded if the same percentage of salary was maintained as in previous years.  On this occasion the Remuneration Committee has decided that shareholder interests are best served by making awards linked to a percentage of base salary in line with previous years. 

Further to the commitment in its Annual Report and Accounts 2019, the Company confirms that the performance measures in respect of the Annual Imperial Brands LTIP grant made on 17 February 2020 will be: 

Earnings per Share Element

This criterion is used for 40 per cent of the award with the following vesting schedule:

Compound annual adjusted EPS growth*	Shares vesting (as a percentage of element)
Less than 2% per annum	nil
2% per annum	25%
2% to 6% per annum	Between 25% and 100% (pro rata)
6% per annum or higher	100%

*As per the Remuneration Committee's decision in 2014, and all awards since 2015, EPS growth and net revenue growth are measured at constant currency.

Total Net Revenue Growth Element

The net revenue growth criterion is used for 40 per cent of the award with the following vesting schedule:

Compound annual growth in net revenue**	Shares vesting (as a percentage of element)
Less than 1% per annum	nil
1% per annum	25%
1% to 4% per annum	Between 25% and 100% (pro rata)
4% per annum or higher	100%

**As per the Remuneration Committee's decision in 2014, and all awards since 2015, EPS growth and net revenue growth are measured at constant currency.

Total Shareholder Return Element

The relative total shareholder return ("TSR") criterion is used for 20 per cent of the award. The peer group used for the assessment of relative TSR now reflects a more relevant group of companies in the consumer goods sector. The companies in the revised peer group are:

Altria Group	Anheuser-Busch InBev	Beiersdorf	British American Tobacco	Brown-Forman
Carlsberg	Clorox	Constellation Brands	Diageo	Heineken
Henkel	Japan Tobacco	Kimberly-Clark	Kirin Holdings	L'Oreal
Monster Beverage	Pernod Ricard	Pepsico	Philip Morris International	Procter & Gamble
Reckitt Benckiser Group	Swedish Match	Uni Charm	Unilever PLC

Vesting of awards on this element would occur as per the vesting schedule below:

Relative TSR performance	Shares vesting (as percentage of element)
Below median of peer group	nil
At median of peer group	25%
Between median and upper quartile	Between 25% and 100% (pro rata)
At or above upper quartile	100%

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 plan to reduce the level of vesting determined by an assessment of the performance conditions, if it is considered to be appropriate having regard to such factors as the Committee considers relevant

There is no opportunity to retest if any of the performance criteria are not achieved.

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

OLIVER REGINALD TANT

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

LAPSING OF AWARD UNDER LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Not Applicable	LAPSED 47,049

d)

Aggregated information

- Aggregated volume

- Price

LAPSED 47,049

NOT APPLICABLE

e)

Date of the transaction

17 FEBRUARY 2020

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

OLIVER REGINALD TANT

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

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
NOT APPLICABLE	102,739

d)

Aggregated information

- Aggregated volume

- Price

102,739

NOT APPLICABLE

e)

Date of the transaction

17 FEBRUARY 2020

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

WALTER NORBERT PRINZ

2

Reason for the notification

a)

Position/status

PDMR - GROUP MANUFACTURING AND SUPPLY CHAIN DIRECTOR

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

LAPSING OF AWARD UNDER LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Not Applicable	LAPSED 17,947

d)

Aggregated information

- Aggregated volume

- Price

LAPSED 17,947

NOT APPLICABLE

e)

Date of the transaction

17 February 2020

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

WALTER NORBERT PRINZ

2

Reason for the notification

a)

Position/status

PDMR - GROUP MANUFACTURING AND SUPPLY CHAIN DIRECTOR

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

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
NOT APPLICABLE	53,253

d)

Aggregated information

- Aggregated volume

- Price

53,253

NOT APPLICABLE

e)

Date of the transaction

17 FEBRUARY 2020

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

DOMINIC JAMES BRISBY

2

Reason for the notification

a)

Position/status

PDMR - JOINT INTERIM CHIEF EXECUTIVE OFFICER AND DIVISION DIRECTOR, AMERICAS, AFRICA, ASIA & AUSTRALASIA

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

LAPSING OF AWARD UNDER LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Not Applicable	LAPSED 16,061

d)

Aggregated information

- Aggregated volume

- Price

LAPSED 16,061

NOT APPLICABLE

e)

Date of the transaction

17 FEBRUARY 2020

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

DOMINIC JAMES BRISBY

2

Reason for the notification

a)

Position/status

PDMR - JOINT INTERIM CHIEF EXECUTIVE OFFICER AND DIVISION DIRECTOR, AMERICAS, AFRICA, ASIA & AUSTRALASIA

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

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
NOT APPLICABLE	55,890

d)

Aggregated information

- Aggregated volume

- Price

55,890

NOT APPLICABLE

e)

Date of the transaction

17 FEBRUARY 2020

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

JOERG BIEBERNICK

2

Reason for the notification

a)

Position/status

PDMR - JOINT INTERIM CHIEF EXECUTIVE OFFICER AND DIVISION DIRECTOR, EUROPE

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

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
NOT APPLICABLE	53,150

d)

Aggregated information

- Aggregated volume

- Price

53,150

NOT APPLICABLE

e)

Date of the transaction

17 FEBRUARY 2020

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

DAVID THOMAS NEWNS

2

Reason for the notification

a)

Position/status

PDMR - GROUP INNOVATION AND SCIENCE DIRECTOR

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

CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN

c)

Price(s) and volume(s)

Price(s)	Volume(s)
NOT APPLICABLE	24,657

d)

Aggregated information

- Aggregated volume

- Price

24,657

NOT APPLICABLE

e)

Date of the transaction

17 FEBRUARY 2020

f)

Place of the transaction

OUTSIDE A TRADING VENUE

Trevor Williams

Deputy Company Secretary

Copies of our announcements are available on our website:  www.imperialbrandsplc.com/Investors/Stock-Exchange-announcements

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