Director/PDMR Shareholding

Imperial Brands PLC

22 November 2024

 

22 November 2024

IMPERIAL BRANDS PLC

 (THE "COMPANY")

Legal Entity Identifier (LEI) No. 549300DFVPOB67JL3A42

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

Recruitment Award

On 20 November 2024, the Company's new General Counsel, Kevin Massie, was granted a nil-cost conditional award (the "Recruitment Award") over ordinary shares of 10 pence each in the Company ("Shares"). The Recruitment Award has been granted over 4,383 Shares.

The Recruitment Award has been granted in order to facilitate Kevin's recruitment, and to replace certain share awards granted to him by his former employer and which he forfeited on joining the Company.

In order to replicate the terms of Kevin's forfeited awards, the Recruitment Award vests in tranches.  The vesting of each tranche of the Recruitment Award (and any dividend equivalent shares accruing) is subject to Kevin's continued service with the Company.

1.	Details of the person discharging managerial responsibilities/ person closely associated
a)	Name	KEVIN MASSIE
2.	Reason for the notification
a)	Position/status	PDMR - GENERAL COUNSEL
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; (iv) each place where transactions have been conducted
a)	Description of the financial instrument, type of instrument	ORDINARY SHARES
	Identification code	GB0004544929
b)	Nature of the transaction	GRANT OF LONG TERM INCENTIVE PLAN AWARDS, VESTING IN FIVE TRANCHES BETWEEN 2024 AND 2026.
c)	Price(s) and volume(s)	Price(s) Volume(s) NIL 4,383
d)	Aggregated information	N/A
e)	Date of the transaction	20 NOVEMBER 2024
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Grant of Long Term Incentive Plan Award

Also on 20 November 2024, the Company made the following grant under the Imperial Brands Long Term Incentive Plan (the "LTIP") to Kevin Massie, a PDMR, who joined the Company in FY24:

PDMR	No. of Shares under LTIP award granted (the "LTIP GRANT")
Kevin Massie	24,795

Further to its 2023 Annual Report and Accounts, the Company confirms that the performance measures and targets (which should not be construed as guidance) in respect of the Imperial Brands LTIP Grant made on 20 November 2024 are:

	Weight	Cut-in	Target	Max
EPS Growth	40%	3.9%	4.8%	5.8%
ROIC	15%	19.1%	21.1%	21.9%
CFCF (£m)	15%	5,900	6,700	7,500
Relative TSR	20%	Median	N/A	Upper quart.
Scope 1 & 2 carbon emissions	5%	70.0%	72.0%	75.0%
Energy consumption	5%	4.5%	6.0%	7.5%

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 LTIP to adjust up or down including to zero the number of shares that vest taking into account a number of factors including personal or corporate performance and circumstances that were unforeseen at the date of grant.

Details of the individual award 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	KEVIN MASSIE
2	Reason for the notification
a)	Position/status	PDMR - GENERAL COUNSEL
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	AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN
c)	Price(s) and volume(s)	Price(s) Volume(s) NIL 24,795
d)	Aggregated information	NOT APPLICABLE
e)	Date of the transaction	20 NOVEMBER 2024
f)	Place of the transaction	OUTSIDE A TRADING VENUE

Chris Winters

Deputy Company Secretary

Copies of our announcements are available on our website: 

https://www.imperialbrandsplc.com/creating-shareholder-value/stock-exchange-announcements

 

END