Director/PDMR Shareholding

Reckitt Benckiser Group PLC

27 July 2023

 

27 July 2023

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").

2016 Senior Executive Share Ownership Policy Plan ("SOPP")

Grant of Conditional Share Awards

On 27 July 2023, the grants of conditional share awards were made under the SOPP to the following PDMRs:

Name	Director/PDMR	Number of Conditional Share Awards
Patrick Sly	PDMR	2,000
Susan Sholtis	PDMR	7,200

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.

2015 Long Term Incentive Plan ("LTIP")

Grant of Performance Share Options and Performance Share Awards

On 27 July 2023, the grant of performance share options and performance share awards ("2023 LTIP awards") were made under the LTIP to the following PDMR:

Name	Director/PDMR	Number of performance share options	Number of performance shares
Susan Sholtis	PDMR	36,000	18,000

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 2025 are satisfied in full.  

The targets that will apply to the 2023 LTIP awards for the 2023-2025 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%	16%	25%
Relative Total Shareholder Return (relative TSR) - measured against a group of 20 peer companies over three years	Median	Upper quartile	25%
% of net revenue from more sustainable products - measured in the final year of performance	32%	35%	5%
% reduction in Greenhouse Gas (GHG) emissions in operations - measured in the final year of performance	66%	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. 

There is a further two-year holding period commencing after the end of the performance period.

Performance share options will be exercisable at £59.08 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	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 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 2,000
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	2023-07-27
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 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 7,200
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	2023-07-27
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 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 36,000
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	2023-07-27
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 18,000
d)	Aggregated information Aggregated volume Price	N/A
e)	Date of the transaction	2023-07-27
f)	Place of the transaction	Outside a trading venue

For further Information:
Catheryn O'Rourke

Company Secretary

Tel [phone]

Richard Joyce

Head of Investor Relations

Tel. [phone]

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 

 

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