Glanbia PLC Doc re. 2021 Share Awards (1706Z)
May 19 2021 - 7:25AM
UK Regulatory
TIDMGLB
RNS Number : 1706Z
Glanbia PLC
19 May 2021
UPDATE ON LONG TERM INCENTIVE PLAN PERFORMANCE CONDITION
RANGES
19 May 2021 - Glanbia plc ("Group" or "Company") the Global
Nutrition Group is publishing its long term incentive plan
performance condition ranges for the three year period from the
2021 financial year. This is the first time the Company has
included environmental targets in remuneration metrics and
represent an important milestone towards execution of the Company's
ESG strategy. Taking account of the continued volatility arising
from the Covid-19 pandemic, and to allow for greater visibility of
market conditions, the Company deferred the finalisation of the
performance condition ranges in respect of the 2021 share awards
granted on 16 March 2021 to a date to be no later than six months
from the date of grant of the award.
The Company confirms that the performance condition measures and
targets in respect of the 2021 share awards made on 16 March 2021
are as set out below:
PERFORMANCE Weighting Threshold Maximum
CONDITION (25% vesting)* (100% vesting)*
Group Adjusted 50% Equal to 6% Equal to or greater
EPS** CAGR than 11% CAGR
----------------- ----------------------------------- --------------------------- -------------------------------
GROUP ROCE 30% Equal to 8% Equal to or greater
than 11%
----------------- ----------------------------------- --------------------------- -------------------------------
TSR 10% Ranked half Ranked in the top
(STOXX Europe way quartile
600 Food &
Beverage Index)
----------------- ----------------------------------- --------------------------- -------------------------------
ESG 10%, comprised of:
----------------- -------------------------------------------------------------------------------------------------
Renewable Energy - Equal to a Equal to or greater
5%; 30% conversion than 40% conversion
of existing of existing non-renewable
non-renewable energy utilisation
energy utilisation by December 2023.
by December
2023.
----------------- -----------------------------------
Energy Efficiency - Audits completed Completion of planned
2.5% and plans approved actions within the
within the performance period.
performance
period.
----------------------------------- --------------------------- -------------------------------
Waste and Water Base lining Completion of planned
Utilisation completed and actions within the
- 2.5% plans approved performance period.
within the
performance
period.
----------------- ----------------------------------- --------------------------- -------------------------------
* Straight line vesting between threshold performance and
maximum performance.
** Group Adjusted EPS performance condition will continue to be
measured using constant currency to reflect more accurately
underlying earnings performance and remove any distortionary effect
of currency volatility.
For further information contact
Glanbia plc +353 (0)56 777 2200
Liam Hennigan, Group Director of Strategic Planning &
Investor Relations: +353 (0)86 046 8375
Martha Kavanagh, Head of Corporate Communications: +353 (0)87
646 2006
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END
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