$re = '/^((?!retargetting).)*(annual)((?!retargetting).)*$/mi';
$str = 'Any line with HIGHLIGHTING is a match. Lines with no highlighting would be filtered out. This regex will match anything containing "annual" but not "retargetting"
1 this only contains annual
2 this does not
3 annual retargetting
4 retargetting annual
5 words words annual words words
';
preg_match_all($re, $str, $matches, PREG_SET_ORDER, 0);
// Print the entire match result
var_dump($matches);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php