26 Mar 2021 12:30
26 March 2021
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").
1. Vesting of Replacement Award
As previously announced on 6 August 2019, Laxman Narasimhan, Chief Executive Officer, was granted a target award of 48,410 Shares (with a maximum award of 175% of target). This award also accrues dividend equivalents. The award was made to compensate for remuneration arrangements forfeited by Mr Narasimhan on leaving his previous employer, PepsiCo and was based on PepsiCo Inc.'s performance over the three-year period which ended in December 2020. Following the publication of PepsiCo's proxy report, on 24 March 2021 the vesting of Mr Narasimhan's award was confirmed at 52.60% of the target amount of 48,410 Shares, which equated to 25,463 Shares, plus dividend equivalents amounting to 891 Shares. The balance of the Shares has lapsed.
On 25 March 2021, 26,354 Shares were released to Mr Narasimhan. He retained the net balance of 13,948 Shares, following the sale of 12,406 Shares to settle resultant tax and social security liabilities. Following this transaction, Mr Narasimhan's beneficial holding has increased to 56,052 Shares, representing 0.00786% of the total voting rights of the Company.
Full details of this award were set out on page 125 of our 2019 Annual Report and Accounts.
2. Grant of Deferred Bonus Share Awards
On 25 March 2021, the grant of conditional share awards was made under the Reckitt Benckiser Group Deferred Bonus Plan ("DBP") to the Directors and PDMRs listed below:
Name | Director/PDMR | Number of Shares under award |
Laxman Narasimhan | Director | 21,124 |
Jeff Carr | Director | 9,163 |
Kris Licht | PDMR | 8,059 |
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 | Laxman Narasimhan | ||||||
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 | Vesting of replacement share awards in relation to former employment with PepsiCo, Inc. | ||||||
c) | Price(s) and volume(s) |
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d) | Aggregated information Aggregated volume Price |
N/A
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e) | Date of the transaction | 2021-03-25 | ||||||
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 - ID code for ordinary shares | ||||||
b) | Nature of the transaction | Sale of shares
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c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information - Aggregated volume - Price |
| ||||||
e) | Date of the transaction | 2021-03-25 | ||||||
f) | Place of the transaction | London Stock Exchange, Main Market - XLON | ||||||
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 Deferred Bonus Plan | ||||||
c) | Price(s) and volume(s) |
| ||||||
d) | Aggregated information Aggregated volume Price |
N/A
| ||||||
e) | Date of the transaction | 2021-03-25 | ||||||
f) | Place of the transaction | Outside a trading venue | ||||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Jeff Carr | ||||
2 | Reason for the notification | |||||
a) | Position/status | 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 | 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 Deferred Bonus Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information Aggregated volume Price |
N/A
| ||||
e) | Date of the transaction | 2021-03-25 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Kris Licht | ||||
2 | Reason for the notification | |||||
a) | Position/status | President Health and Chief Customer 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 conditional share awards for nil consideration under the Reckitt Benckiser Group Deferred Bonus Plan | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price | N/A | ||||
e) | Date of the transaction | 2021-03-25 | ||||
f) | Place of the transaction | Outside a trading venue | ||||
For further Information:Rupert Bondy
Company Secretary
Tel +44 (0) 1753 217 800
John Dawson
SVP, Investor Relations
Tel. +44 (0) 1753 217 800
Reckitt Benckiser Group plc's LEI code is 5493003JFSMOJG48V108
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 20 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 more than 43,000 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