Wrap Text
Notification and Public Disclosure of Transactions by Persons Discharging Managerial Responsibilities
British American Tobacco p.l.c.
Incorporated in England and Wales
(Registration number: 03407696)
Short name: BATS
Share code: BTI
ISIN number: GB0002875804
British American Tobacco p.l.c.
("the Company")
Notification and public disclosure of transactions by persons discharging managerial
responsibilities and persons closely associated with them
On 19 March 2026, the Company granted awards of British American Tobacco p.l.c. 25p
ordinary shares (the "Shares") to the Executive Director and other persons discharging
managerial responsibilities (the "Participants") listed below under the British American
Tobacco Performance Share Plan at an award price of 4,500 pence per Share. The awards
will vest to the extent that the performance conditions are satisfied at the end of the three-
year performance period. The shares will be released three years from the grant date,
except for the Executive Director whose shares will be released following an additional
holding period of two years. The maximum number of shares comprised in the awards
granted to the Participants which could vest if the performance conditions are met in full is
shown under the name of each Participant set out below:
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Tadeu Marroco
2 Reason for the notification
a) Position/status Chief Executive
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 189,200
d) Aggregated information
- Aggregated volume 189,200
- Price £8,514,000.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name James Barrett
2 Reason for the notification
a) Position/status Director, Business Development
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 29,766
d) Aggregated information
- Aggregated volume 29,766
- Price £1,339,470.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Luciano Comin
2 Reason for the notification
a) Position/status Chief Marketing Officer
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 41,166
d) Aggregated information
- Aggregated volume 41,166
- Price £1,852,470.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Javed Iqbal
2 Reason for the notification
a) Position/status Interim Chief Financial Officer and Director, Digital
and Information
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 44,333
d) Aggregated information
- Aggregated volume 44,333
- Price £1,994,985.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Zafar Khan
2 Reason for the notification
a) Position/status Director, Operations
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 36,416
d) Aggregated information
- Aggregated volume 36,416
- Price £1,638,720.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Cora Koppe-Stahrenberg
2 Reason for the notification
a) Position/status Chief People Officer
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 37,493
d) Aggregated information
- Aggregated volume 37,493
- Price £1,687,185.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Paul McCrory
2 Reason for the notification
a) Position/status Director, Legal and General Counsel
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 36,416
d) Aggregated information
- Aggregated volume 36,416
- Price £1,638,720.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Pascale Meulemeester
2 Reason for the notification
a) Position/status Regional Director, Asia-Pacific, Middle East and
Africa
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 31,666
d) Aggregated information
- Aggregated volume 31,666
- Price £1,424,970.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Frederico Monteiro
2 Reason for the notification
a) Position/status Regional Director, Americas & Europe
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 38,950
d) Aggregated information
- Aggregated volume 38,950
- Price £1,752,750.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name James Murphy
2 Reason for the notification
a) Position/status Director, Research and Science
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 33,250
d) Aggregated information
- Aggregated volume 33,250
- Price £1,496,250.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Johan Vandermeulen
2 Reason for the notification
a) Position/status Chief Operating Officer
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 49,716
d) Aggregated information
- Aggregated volume 49,716
- Price £2,237,220.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name David Waterfield
2 Reason for the notification
a) Position/status President and CEO, Reynolds American Inc.
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 40,533
d) Aggregated information
- Aggregated volume 40,533
- Price £1,823,985.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
1 Details of the person discharging managerial responsibilities/person closely
associated
a) Name Kingsley Wheaton
2 Reason for the notification
a) Position/status Chief Corporate Officer
b) Initial notification
Initial notification
/Amendment
3 Details of the issuer, emission allowance market participant, auction platform,
auctioneer or auction monitor
a) Name British American Tobacco p.l.c.
b) LEI 213800FKA5MF17RJKT63
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 Ordinary shares of 25p each
instrument
Identification code GB0002875804
b) Nature of the transaction Award of shares under the Performance Share Plan
c) Price(s) and volume(s)
Price(s) Volume(s)
£45.00 47,183
d) Aggregated information
- Aggregated volume 47,183
- Price £2,123,235.00
e) Date of the transaction 2026-03-19
f) Place of the transaction Outside a trading venue
Name of officer of issuer responsible for making notification: Nancy Jiang
Date of notification: 20 March 2026
23 March 2026
Sponsor: Merrill Lynch South Africa (Pty) Ltd t/a BofA Securities
Date: 23-03-2026 07:05:00
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