REG - Imperial Brands PLC - Director/PDMR Shareholding

Imperial BrandsAnnouncement

18/02/2020 13:15

RNS Number : 3706D
Imperial Brands PLC
18 February 2020
 


Directors and Persons Discharging Managerial Responsibility ("PDMRs") Interests
 
Imperial Brands PLC (the "Company") Long Term Incentive Plan
 
On 17 February 2020, the Company made the following grant of awards under the Imperial Brands Long Term Incentive Plan (the "LTIP") to PDMRs:
 



PDMR


No. of LTIP awards granted




Oliver Tant


102,739




Walter Prinz


53,253




Dominic Brisby


55,890




Joerg Biebernick


53,150




David Newns


24,657



 
The Remuneration Committee is cognisant of the current share price and the impact this has on the number of shares awarded if the same percentage of salary was maintained as in previous years.  On this occasion the Remuneration Committee has decided that shareholder interests are best served by making awards linked to a percentage of base salary in line with previous years. 
 
Further to the commitment in its Annual Report and Accounts 2019, the Company confirms that the performance measures in respect of the Annual Imperial Brands LTIP grant made on 17 February 2020 will be: 
 
Earnings per Share Element
This criterion is used for 40 per cent of the award with the following vesting schedule:
 



Compound annual adjusted EPS growth*


Shares vesting (as a percentage of element)




Less than 2% per annum


nil




2% per annum


25%




2% to 6% per annum


Between 25% and 100% (pro rata)




6% per annum or higher


100%



*As per the Remuneration Committee's decision in 2014, and all awards since 2015, EPS growth and net revenue growth are measured at constant currency.
 
Total Net Revenue Growth Element
The net revenue growth criterion is used for 40 per cent of the award with the following vesting schedule:
 



Compound annual growth in net revenue**


Shares vesting (as a percentage of element)




Less than 1% per annum


nil




1% per annum


25%




1% to 4% per annum


Between 25% and 100% (pro rata)




4% per annum or higher


100%



**As per the Remuneration Committee's decision in 2014, and all awards since 2015, EPS growth and net revenue growth are measured at constant currency.
Total Shareholder Return Element
The relative total shareholder return ("TSR") criterion is used for 20 per cent of the award. The peer group used for the assessment of relative TSR now reflects a more relevant group of companies in the consumer goods sector. The companies in the revised peer group are:
 



Altria Group


Anheuser-Busch InBev


Beiersdorf


British American Tobacco


Brown-Forman




Carlsberg


Clorox


Constellation Brands


Diageo


Heineken




Henkel


Japan Tobacco


Kimberly-Clark


Kirin Holdings


L'Oreal




Monster Beverage


Pernod Ricard


Pepsico


Philip Morris International


Procter & Gamble




Reckitt Benckiser Group


Swedish Match


Uni Charm


Unilever PLC







 
Vesting of awards on this element would occur as per the vesting schedule below:
 



Relative TSR performance


Shares vesting (as percentage of element)




Below median of peer group


nil




At median of peer group


25%




Between median and upper quartile


Between 25% and 100% (pro rata)




At or above upper quartile


100%



 
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 plan to reduce the level of vesting determined by an assessment of the performance conditions, if it is considered to be appropriate having regard to such factors as the Committee considers relevant
 
There is no opportunity to retest if any of the performance criteria are not achieved.
 
Details of individual awards 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
 


OLIVER REGINALD TANT




2
 


Reason for the notification
 




a)
 


Position/status
 


EXECUTIVE DIRECTOR - CHIEF FINANCIAL OFFICER




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
 


LAPSING OF AWARD UNDER LONG TERM INCENTIVE PLAN




c)
 


Price(s) and volume(s)
 
 
 
 
 
 


 



Price(s)
 


Volume(s)




 
Not Applicable


 
LAPSED 47,049
 








d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


 
 
LAPSED 47,049
 
NOT APPLICABLE
 




e)
 


Date of the transaction
 


17 FEBRUARY 2020
 




f)
 


Place of the transaction
 


OUTSIDE A TRADING VENUE



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
 


OLIVER REGINALD TANT




2
 


Reason for the notification
 




a)
 


Position/status
 


EXECUTIVE DIRECTOR - CHIEF FINANCIAL OFFICER




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
 


CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN




c)
 


Price(s) and volume(s)
 
 
 
 
 
 


 



Price(s)
 


Volume(s)




 
NOT APPLICABLE


 
102,739
 








d)
 


Aggregated information
 
- Aggregated volume
 
- Price


 
 
102,739
 
NOT APPLICABLE




e)
 


Date of the transaction
 


17 FEBRUARY 2020




f)
 


Place of the transaction
 


OUTSIDE A TRADING VENUE



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
 


WALTER NORBERT PRINZ




2
 


Reason for the notification
 




a)
 


Position/status
 


PDMR - GROUP MANUFACTURING AND SUPPLY CHAIN DIRECTOR




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
 


LAPSING OF AWARD UNDER LONG TERM INCENTIVE PLAN




c)
 


Price(s) and volume(s)
 
 
 
 
 
 
 


 



Price(s)
 


Volume(s)




 
Not Applicable


 
LAPSED 17,947
 








d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


 
 
LAPSED 17,947
 
NOT APPLICABLE
 




e)
 


Date of the transaction
 


17 February 2020




f)
 


Place of the transaction
 


OUTSIDE A TRADING VENUE



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
 


WALTER NORBERT PRINZ
 




2
 


Reason for the notification




a)
 


Position/status
 


PDMR - GROUP MANUFACTURING AND SUPPLY CHAIN DIRECTOR




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


CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN




c)
 


Price(s) and volume(s)
 
 
 
 
 
 


 



Price(s)
 


Volume(s)




 
NOT APPLICABLE


 
53,253
 








d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


 
 
53,253
 
NOT APPLICABLE
 




e)
 


Date of the transaction
 


17 FEBRUARY 2020




f)
 


Place of the transaction
 


OUTSIDE A TRADING VENUE



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
 


DOMINIC JAMES BRISBY




2
 


Reason for the notification
 




a)
 


Position/status
 


PDMR - JOINT INTERIM CHIEF EXECUTIVE OFFICER AND DIVISION DIRECTOR, AMERICAS, AFRICA, ASIA & AUSTRALASIA




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
 


LAPSING OF AWARD UNDER LONG TERM INCENTIVE PLAN




c)
 


Price(s) and volume(s)
 
 
 
 
 
 


 



Price(s)
 


Volume(s)




 
Not Applicable


 
LAPSED 16,061
 








d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


 
 
LAPSED 16,061
 
NOT APPLICABLE
 




e)
 


Date of the transaction
 


17 FEBRUARY 2020




f)
 


Place of the transaction
 


OUTSIDE A TRADING VENUE



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
 


DOMINIC JAMES BRISBY




2
 


Reason for the notification




a)
 


Position/status
 


PDMR - JOINT INTERIM CHIEF EXECUTIVE OFFICER AND DIVISION DIRECTOR, AMERICAS, AFRICA, ASIA & AUSTRALASIA




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
 


CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN




c)
 


Price(s) and volume(s)
 
 
 
 
 
 


 



Price(s)
 


Volume(s)




 
NOT APPLICABLE


 
55,890
 








d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


 
 
55,890
 
NOT APPLICABLE
 




e)
 


Date of the transaction
 


17 FEBRUARY 2020




f)
 


Place of the transaction
 


OUTSIDE A TRADING VENUE



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
 


JOERG BIEBERNICK




2
 


Reason for the notification




a)
 


Position/status
 


PDMR - JOINT INTERIM CHIEF EXECUTIVE OFFICER AND DIVISION DIRECTOR, EUROPE




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
 


CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN




c)
 


Price(s) and volume(s)
 
 
 
 
 
 


 



Price(s)
 


Volume(s)




 
NOT APPLICABLE


 
53,150
 








d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


 
 
53,150
 
NOT APPLICABLE
 




e)
 


Date of the transaction
 


17 FEBRUARY 2020




f)
 


Place of the transaction
 


OUTSIDE A TRADING VENUE



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
 


DAVID THOMAS NEWNS




2
 


Reason for the notification




a)
 


Position/status
 


PDMR - GROUP INNOVATION AND SCIENCE DIRECTOR




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
 


CONDITIONAL AWARD GRANTED UNDER LONG TERM INCENTIVE PLAN




c)
 


Price(s) and volume(s)
 
 
 
 
 
 


 



Price(s)
 


Volume(s)




 
NOT APPLICABLE


 
24,657
 








d)
 


Aggregated information
 
- Aggregated volume
 
- Price
 


 
 
24,657
 
NOT APPLICABLE




e)
 


Date of the transaction
 


17 FEBRUARY 2020




f)
 


Place of the transaction
 


OUTSIDE A TRADING VENUE



 
Trevor Williams
Deputy Company Secretary
Copies of our announcements are available on our website:  www.imperialbrandsplc.com/Investors/Stock-Exchange-announcements
 




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