TIDMRKT
RNS Number : 4591A
Reckitt Benckiser Group PLC
01 June 2021
1 June 2021
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 28 May 2021, the grant of performance share options and
performance share awards ("2021 LTIP awards") were made under the
LTIP to the Directors and PDMRs listed below:
Director/PDMR Number of Number of performance
Name performance shares
share options
Director and
Laxman Narasimhan PDMR 150,000 75,000
Director and
Jeff Carr PDMR 80,000 40,000
Volker Kuhn PDMR 50,000 25,000
Aditya Sehgal PDMR 50,000 25,000
Kris Licht PDMR 50,000 25,000
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 2023 are satisfied in full.
At the time of publication of the 2020 Annual Report the
Remuneration Committee had not finalised the targets for the 2021
LTIP awards and committed to disclosing targets when the awards
were made. As set out in the 2020 Annual Report, the performance
measures and weightings are unchanged from last year; the
definitions of the measures are set out on page 149 of the 2020
Annual Report.
The targets that will apply to the 2021 LTIP awards for the
2021-2023 performance period are set out below.
Performance Condition Proportion of Target to achieve Target to achieve
2021 Award subject threshold (20%) maximum (100%)
to Performance vesting vesting
Condition
Like-for-like Net
Revenue growth (3-year
CAGR) 50% 1% 5%
-------------------- ------------------ ------------------
ROCE (final year) 25% 12.3% 14.0%
-------------------- ------------------ ------------------
EPS (final year) 12.5% 327 pence 401 pence
on a constant foreign
exchange basis
-------------------- ------------------ ------------------
EPS (final year) 12.5% 308 pence 379 pence
on an actual foreign
exchange basis
-------------------- ------------------ ------------------
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 GBP64.67 per
share. No consideration was paid for the grant of these awards.
Vesting of share awards
On 28 May 2021, a time-vested share award granted to Kris Licht
on 4 November 2019 under the Reckitt Benckiser Group plc 2015 Long
Term Incentive Plan vested.
4,578 Shares were sold on 28 May 2021 at GBP63.52 per Share to
realise sufficient funds to settle resultant tax and social
security liabilities arising from the vesting.
Also on 28 May 2021, a time-vested share award granted to Volker
Kuhn on 3 August 2020 under the Reckitt Benckiser Group plc 2015
Long Term Incentive Plan vested.
382 Shares were sold on 28 May 2021 at GBP63.52 per Share to
realise sufficient funds to settle resultant tax and social
security liabilities arising from the vesting.
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 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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of share options for nil consideration
transaction under the Reckitt Benckiser Group plc
2015 Long-Term Incentive Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 150,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume - Price Nil 150,000 Nil
---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of performance share awards for
transaction nil consideration under the Reckitt
Benckiser Group plc 2015 Long-Term Incentive
Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 75,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 75,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Jeff Carr
------------------------ ----------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status 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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of share options for nil consideration
transaction under the Reckitt Benckiser Group plc
2015 Long-Term Incentive Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 80,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 80,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of performance share awards for
transaction nil consideration under the Reckitt
Benckiser Group plc 2015 Long-Term Incentive
Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 40,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 40,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Kris Licht
------------------------ ----------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status President Health & Chief Customer 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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of share options for nil consideration
transaction under the Reckitt Benckiser Group plc
2015 Long-Term Incentive Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 50,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 50,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of performance share awards for
transaction nil consideration under the Reckitt
Benckiser Group plc 2015 Long-Term Incentive
Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 25,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 25,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Vesting/release of share awards granted
transaction on 4 November 2019 under the Reckitt
Benckiser Group plc 2015 Long Term Incentive
Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 8,733
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 8,733 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Sale of shares to settle tax liabilities
transaction arising from conditional share award
releases
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP63.52 4,578
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume GBP63.52 4,578 GBP290,794.56
- Price ---------- --------------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the London Stock Exchange, Main Market -
transaction XLON
------------------------ ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Volker Kuhn
------------------------ ----------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status President Hygiene
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of share options for nil consideration
transaction under the Reckitt Benckiser Group plc
2015 Long-Term Incentive Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 50,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 50,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of performance share awards for
transaction nil consideration under the Reckitt
Benckiser Group plc 2015 Long-Term Incentive
Pla
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 25,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 25,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Vesting/release of share awards granted
transaction on 3 August 2020 under the Reckitt Benckiser
Group plc 2015 Long Term Incentive Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 19,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 19,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Sale of shares to settle tax liabilities
transaction arising from conditional share award
releases
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) GBP63.52 382
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume GBP63.52 382 GBP24,264.64
- Price ---------- -------------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the London Stock Exchange, Main Market -
transaction XLON
------------------------ ----------------------------------------------
1 Details of the person discharging managerial responsibilities
/ person closely associated
a) Name Aditya Sehgal
------------------------ ----------------------------------------------
2 Reason for the notification
------------------------------------------------------------------------
a) Position/status President Nutrition, eRB & Greater China
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of share options for nil consideration
transaction under the Reckitt Benckiser Group plc
2015 Long-Term Incentive Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 50,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 50,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
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 Ordinary shares of 10p each in Reckitt
the financial Benckiser Group plc
instrument, type GB00B24CGK77 - ID code for ordinary
of instrument shares
Identification
code
------------------------ ----------------------------------------------
b) Nature of the Grant of performance share awards for
transaction nil consideration under the Reckitt
Benckiser Group plc 2015 Long-Term Incentive
Plan
------------------------ ----------------------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) Nil 25,000
----------
------------------------ ----------------------------------------------
d) Aggregated information Aggregate Price Aggregate Aggregate
- Aggregated Volume Total
volume Nil 25,000 Nil
- Price ---------- ----------
------------------------ ----------------------------------------------
e) Date of the transaction 2021-05-28
------------------------ ----------------------------------------------
f) Place of the Outside a trading venue
transaction
------------------------ ----------------------------------------------
For further Information:
Rupert Bondy
Company Secretary
Tel +44 (0) 1753 217 800
Sandra Azevedo-Moura
Investor Relations Director
Tel. +44 (0) 1753 446 984
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
DSHBXGDLXGGDGBB
(END) Dow Jones Newswires
June 01, 2021 09:20 ET (13:20 GMT)
Reckitt Benckiser (LSE:RKT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Reckitt Benckiser (LSE:RKT)
Historical Stock Chart
From Apr 2023 to Apr 2024
