7 March
2024
RECKITT
BENCKISER GROUP PLC
DIRECTOR/PDMR SHAREHOLDINGS
Reckitt Benckiser Group plc (the
"Company") 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 March 2024, the grant of
performance share options and performance share awards ("2024 LTIP
awards") were made under the LTIP to the Directors and PDMRs listed
below:
Name
|
Director/PDMR
|
Number of performance
share options
|
Number of performance shares
|
Kris Licht
|
Director
|
150,000
|
75,000
|
Shannon Eisenhardt
|
Director
|
80,000
|
40,000
|
Volker Kuhn
|
PDMR
|
80,000
|
40,000
|
Patrick Sly
|
PDMR
|
80,000
|
40,000
|
Susan Sholtis
|
PDMR
|
60,000
|
30,000
|
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 2026 are satisfied in
full.
The targets that will apply to the
2024 LTIP awards for the 2024-2026 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%
|
5%
|
40%
|
Return on Capital Employed (ROCE) -
measured in the final year of performance
|
14.9%
|
16.9%
|
25%
|
Relative Total Shareholder Return
(relative TSR) - measured against a group of 21 peer companies over
three years
|
Median
|
Upper
quartile
|
25%
|
% of net revenue from more
sustainable products - measured in the final year of
performance
|
43%
|
46%
|
5%
|
% reduction in Greenhouse Gas (GHG)
emissions in operations - measured in the final year of
performance
|
67%
|
70%
|
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.
There is a further two-year holding
period commencing after the end of the performance
period.
Performance share options will be
exercisable at £50.90 per share. No consideration
was paid for the grant of these awards.
Grant of Conditional Share Awards
On 6 March 2024, the grant of
conditional share awards was made under the LTIP to the PDMR listed
below:
Name
|
Director/PDMR
|
Number of Conditional Share Awards
|
Susan Sholtis
|
PDMR
|
9,000
|
Awards are based on continued
employment only and will vest in equal tranches in March 2026 and
March 2027.
2016 Senior Executive Share
Ownership Policy Plan ("SOPP")
Grant of Conditional Share Awards
On the same date, the following
grant of conditional share awards were made under the SOPP to the
PDMR listed below:
Name
|
Director/PDMR
|
Number of Conditional Share Awards
|
Susan Sholtis
|
PDMR
|
2,800
|
Under the SOPP, participants are
required to build up a shareholding in the Company over a period of
up to eight years and are granted an award which may vest
subject to the achievement of that shareholding
and of which an equivalent number of shares to those granted should
be acquired by the participant at arm's length, and no earlier than
2 years following the date stipulated in an agreement entered into
by the participant and the Company.
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
|
Kris Licht
|
2
|
Reason for the notification
|
a)
|
Position/status
|
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
|
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
|
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
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
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
|
b)
|
Nature of the transaction
|
Grant of performance shares 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
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
f)
|
Place of the transaction
|
Outside a trading venue
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
a)
|
Name
|
Shannon Eisenhardt
|
2
|
Reason for the notification
|
a)
|
Position/status
|
Chief Financial 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
|
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
|
80,000
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
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
|
b)
|
Nature of the transaction
|
Grant of performance shares 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
|
40,000
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
f)
|
Place of the transaction
|
Outside a trading venue
|
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/
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
|
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
|
80,000
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
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
|
b)
|
Nature of the transaction
|
Grant of performance shares 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
|
40,000
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
f)
|
Place of the transaction
|
Outside a trading venue
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
a)
|
Name
|
Patrick Sly
|
2
|
Reason for the notification
|
a)
|
Position/status
|
President Health
|
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
|
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
|
80,000
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
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
|
b)
|
Nature of the transaction
|
Grant of performance shares 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
|
40,000
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
f)
|
Place of the transaction
|
Outside a trading venue
|
1
|
Details of the person discharging managerial responsibilities
/ person closely associated
|
a)
|
Name
|
Susan Sholtis
|
2
|
Reason for the notification
|
a)
|
Position/status
|
President Nutrition
|
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
|
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
|
60,000
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
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
|
b)
|
Nature of the transaction
|
Grant of performance shares 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
|
30,000
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
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
|
b)
|
Nature of the transaction
|
Grant of conditional 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
|
9,000
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
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
|
b)
|
Nature of the transaction
|
Grant of conditional share awards
for nil consideration under the Reckitt Benckiser Group plc 2016
Senior Executive Share Ownership Policy Plan
|
c)
|
Price(s) and volume(s)
|
Price(s)
|
Volume(s)
|
Nil
|
2,800
|
|
d)
|
Aggregated information
Aggregated volume
Price
|
N/A
|
e)
|
Date of the transaction
|
2024-03-06
|
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
Head of Investor
Relations
Tel. +44 (0) 7408 812062
About Reckitt:
Reckitt* exists to protect, heal and
nurture in the relentless pursuit of a cleaner, healthier world. We
believe that access to the highest-quality hygiene, wellness and
nourishment is a right, not a privilege.
Reckitt is the company behind some of
the world's most recognisable and trusted consumer brands in
hygiene, health and nutrition, including Air Wick, Calgon, Cillit
Bang, Clearasil, Dettol, Durex, Enfamil, Finish, Gaviscon, Harpic,
Lysol, Mortein, Mucinex, Nurofen, Nutramigen, Strepsils, Vanish,
Veet, Woolite and more.
Every day, more than 30 million
Reckitt products are bought globally. We always put consumers and
people first, seek out new opportunities, strive for excellence in
all that we do and build shared success with all our partners. We
aim to do the right thing, always.
We are a diverse global team of c.
40,000 colleagues. We draw on our collective energy to meet our
ambitions of purpose-led brands, a healthier planet and a fairer
society. Find out more, or get in touch with us at
www.reckitt.com
*
Reckitt is the trading name of the Reckitt Benckiser group of
companies