Share-based Payment Arrangement, Plan Modification, Number of Grantees Affected

[Table of Contents](#i5ec3aabfaa534f9c8fa2d2a5b7677d19_7)  
performance-based award based on the Company’s performance against established company-wide performance metrics, which are:

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| Metric | 2020 - 2021 Grants |  |  | 2017 - 2019 Grants |  |  |  |
| Average return on net assets (1) | 33% |  |  | 50% |  |  |  |
| Cumulative net income | 33% |  |  | 25% |  |  |  |
| Relative total shareholder return (2) | 33% |  |  | 25% |  |  |  |

(1)Average return on net assets is measured by tax-affected operating income divided by average net working capital plus average net property, plant and equipment for each calendar year during the respective performance period.(2)Relative total shareholder return is measured by comparing the average closing price per share of the Company’s ordinary shares for the specified trading days in the fourth quarter of the end of the performance period to the average closing price per share of the Company’s ordinary shares for the specified trading days in the fourth quarter of the year preceding the grant, including dividends, and assessed against a comparable measure of competitor and peer group companies.The details of the executive grants were as follows:

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| Grant Date |  | RSUs Granted |  | Grant Date Fair Value |  | Time-Based Award Vesting Dates |  | Performance-Based Award Vesting Date |
|  |  | (in millions) |  |  |  |  |
| February 2017 |  | 0.80  |  |  | $ | 63  |  |  | Annually on anniversary of grant date, 2018 - 2020 |  | December 31, 2019 |
| February 2018 |  | 0.63  |  |  | 61  |  |  | Annually on anniversary of grant date, 2019 - 2021 |  | December 31, 2020 |
| February 2019 |  | 0.71  |  |  | 62  |  |  | Annually on anniversary of grant date, 2020 - 2022 |  | December 31, 2021 |
| February 2020 |  | 0.75  |  |  | 62  |  |  | Annually on anniversary of grant date, 2021 - 2023 |  | December 31, 2022 |
| February 2021 |  | 0.44  |  |  | 72  |  |  | Annually on anniversary of grant date, 2022 - 2024 |  | December 31, 2023 |

The grant date fair value of the RSUs is determined based on the target number of awards issued, the closing price of the Company’s ordinary shares on the date of the grant of the award, including an estimate for forfeitures, and a contemporaneous valuation performed by an independent valuation specialist with respect to the relative total shareholder return awards.Any new executives hired after the annual executive RSU grant date may be eligible to participate in the PLC LTIP. The Company has also granted additional awards to employees in certain periods under the PLC LTIP. Any off cycle grants made for new hires or to other employees are valued at their grant date fair value based on the closing price of the Company’s ordinary shares on the date of such grant.The details of the shares issued upon vesting of the executive grants are as follows:

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|  |  | Time-Based Awards |  | Performance-Based Awards |
| Vesting Date |  | Ordinary Shares Issued Upon Vesting |  | Grant Date Fair Value |  | Ordinary Shares Withheld to Cover Withholding Taxes |  | Ordinary Shares Issued Upon Vesting |  | Fair Value of Shares at Issuance |  | Ordinary Shares Withheld to Cover Withholding Taxes |
|  |  | (dollars in millions) |
| Q1 2021 |  | 449,426  |  |  | $ | 67  |  |  | 177,825  |  |  | 288,074  |  |  | $ | 43  |  |  | 121,609  |  |
| Q1 2020 |  | 468,240  |  |  | 37  |  |  | 181,495  |  |  | 580,390  |  |  | 45  |  |  | 243,080  |  |
| Q1 2019 |  | 529,812  |  |  | 44  |  |  | 203,839  |  |  | 493,674  |  |  | 41  |  |  | 199,547  |  |
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As a result of the impacts of the COVID-19 pandemic on the Company’s industry and operations, during the fourth quarter of 2020 the financial performance targets associated with February 2018, 2019 and 2020 executive performance grants were modified, which impacted approximately 300 award recipients and resulted in the recognition of approximately $22 million of incremental compensation expense during the year ended December 31, 2020.116
