Reckitt Benckiser Group PLC — Director's Dealing 2022

Sep 7, 2022

National Storage Mechanism | Additional information

RNS Number : 6216Y

Reckitt Benckiser Group PLC

07 September 2022

7 September 2022 

RECKITT BENCKISER GROUP PLC

DIRECTOR/PDMR SHAREHOLDING

Reckitt Benckiser Group plc (the "Company" or "Reckitt") 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 Options and Performance Share Awards

On 6 September 2022, the grant of performance share options and performance share awards ("2022 LTIP award") was made under the LTIP to the Director/PDMR listed below:

Name	Director/PDMR	Number of performance share options	Number of performance shares
Nicandro Durante	Director and PDMR	150,000	75,000

The number of performance share options and performance share awards shown is the maximum available if the stretching performance conditions for the three-year performance period ending on 31 December 2024 are satisfied in full.  

The targets that will apply to the 2022 LTIP awards for the 2022-2024 performance period are set out below. 

Performance Condition	Threshold*	Maximum*	Proportion of award
(20% vesting)	(100% vesting)
Net Revenue (NR) Growth - measured on a like-for-like (LFL) compound annual growth basis (CAGR) over three years	2.0%	5.0%	40%
Return on Capital Employed (ROCE) - measured in the final year of performance	13.2%	15.2%	25%
Relative Total Shareholder Return (relative TSR) - measured against a group of 19 peer companies over three years	Median	Upper quartile	25%
% of net revenue from more sustainable products - measured in the final year of performance	30%	33%	5%
% reduction in Greenhouse Gas (GHG) emissions in operations - measured in the final year of performance	65%	69%	5%

Vesting between achievement of threshold and maximum performance is on a straight-line basis. In addition to the above performance conditions, before determining the final vesting level, the Remuneration Committee will continue to take a broader assessment of performance in the round and has an overriding discretion to adjust vesting outcomes where, acting fairly and reasonably, it considers the formulaic outcome to be inappropriate. 

In line with the Directors' Remuneration Policy, for Executive Directors there is a further two-year holding period commencing after the end of the performance period.

Performance share options will be exercisable at £64.77 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

Nicandro Durante

2

Reason for the notification

a)

Position/status

Chief Executive Officer Designate

b)

Initial notification/

Amendment

Initial notification

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 instrument

Identification code

Ordinary shares of 10p each in Reckitt Benckiser Group plc

GB00B24CGK77 - ID code for ordinary shares

b)

Nature of the transaction

Grant of share options for nil consideration under the Reckitt Benckiser Group plc 2015 Long-Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	150,000

d)

Aggregated information

-       Aggregated volume-       Price

Aggregate Price	Aggregate Volume	Aggregate Total
Nil	150,000	Nil

e)

Date of the transaction

2022-09-06

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 instrument

Identification code

Ordinary shares of 10p each in Reckitt Benckiser Group plc

GB00B24CGK77 - ID code for ordinary shares

b)

Nature of the transaction

Grant of performance share awards for nil consideration under the Reckitt Benckiser Group plc 2015 Long-Term Incentive Plan

c)

Price(s) and volume(s)

Price(s)	Volume(s)
Nil	75,000

d)

Aggregated information

-      Aggregated volume

-       Price

Aggregate Price	Aggregate Volume	Aggregate Total
Nil	75,000	Nil

e)

Date of the transaction

2022-09-06

f)

Place of the transaction

Outside a trading venue

For further Information:

Catheryn O'Rourke

Company Secretary

Tel +44 (0)1753 217 800

Richard Joyce

Investor Relations Director

Tel +44 (0) 7408 812 062

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

DSHBGGDCXSGDGDR