Last checked at 15 Sep 2022 12:12
Hilton Food Group plc
Director/PDMR Shareholding
On 17 May 2022, Hilton disclosed the grant of awards of Shares to Executive Directors under the Hilton Food Group Long-Term Incentive Plan 2019. For the first time, the Group's Long-Term Incentive Plan contains a significant ESG element. This is to ensure that Executive Directors are incentivised to achieve continued delivery against the Group's sustainable protein plan.
The details of the Relative TSR targets were published in May. However, as a result of the Board working through the integration of a number of acquisitions, the Board agreed to set and disclose the EPS and ESG targets post grant albeit no later than 30 September 2022.
Hilton is now able to confirm the complete performance conditions covering the three financial years 2022-2024 as follows.
Metric
| Weighting | Threshold 10% vesting | Maximum 100% vesting |
EPS
| 60% | 5% growth per annum | 12% growth per annum |
Relative TSR compared with the constituents of the FTSE 250 (excluding investment trusts)
| 25% | Median | Upper quartile |
ESG | |||
i) Scope 1 & 2 energy efficiency | 5% | 6.5% reduction over 3 years | 43.9% reduction over 3 years
|
ii) Packaging recycled content | 5% | 11.7% increase over 3 years | 28.3% increase over 3 years
|
iii) Food waste
| 5% | 15.0% reduction over 3 years | 30.0% reduction over 3 years |
Vesting for all the performance conditions above increase rise pro-rata between threshold and maximum limits.
Further details of the awards will be set out in the next Directors' Remuneration Report in respect of the 2022 financial year.
For further enquiries please contact:
Neil George
Company Secretary
Tel.: +44 (0) 1480 387207, email: cosec@hiltonfoodgroup.com