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.
| |
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| 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) |
| ||||
| 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)
|
| ||||
| 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
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