The Performance Share Plan (PSP) is a long-term incentive that offers you the opportunity to receive a conditional award over shares in Diageo plc, subject to the achievement of the performance conditions. The plan is designed to link your reward to financial measures that are aligned to our business strategy and the delivery of superior returns to shareholders. PSP awards are made under the rules of the Diageo 2014 Long Term Incentive Plan Long Term Incentive Plan. Awards are normally made in September after the announcement of our financial results. We may also grant awards in March and at other times in exceptional circumstances. For more information on how PSP works, please see the Document section of your Shareworks account.
When does my PSP Vest?
The vesting period for PSP is 3 years but is also subject to meeting the relevant performance conditions. The number of shares you receive depends on the extent to which the performance condition is met. If the performance conditions are not achieved then your award will lapse.
Please refer to Leavers Information for details on what happens to your award if you leave the business.