The following section provides details of how SIG's Remuneration Policy was implemented during the financial year ended 31 December and how it will A Report On The Remuneration Committee implemented in The Committee's Terms of Reference, which are reviewed regularly, are set out on the Company's website www. Geoghegan who chairs the Committee ; Ms. Ashdown; Mr. Ewell; and Mr. Nicholls, https://amazonia.fiocruz.br/scdp/essay/writing-practice-test-online/ethics-and-morals-of-social-work-practice.php of whom are considered independent within the definition set out in the Code. During the year the Committee met seven times. Attendance by individual members of the Committee is disclosed in the Corporate A Report On The Remuneration Committee section of the Directors' Report. Only members of the Committee have the right to attend Committee meetings.
The Chairman of the Board, Chief Executive, Group Human Resources Director and Company Secretary attend the Committee's meetings by invitation, but are not present when their own remuneration is discussed. The Committee also takes independent professional advice, on an ad hoc basis, as required. The Committee reviews its own performance annually and considers where improvements can be made as appropriate. Kepler Associates "Kepler"an independent firm of remuneration consultants appointed by the Committee after consultation with the Board, continued to act as the remuneration advisor to visit web page Committee during the year. Kepler attends Committee meetings and provides advice on remuneration for Executives, analysis on all elements of the Remuneration Policy and regular market and best practice updates.
Kepler reports directly to the Committee Chairman and is a signatory to the Code of Conduct for Remuneration Consultants of UK-listed companies which can be found at www. Kepler provides no other services to the Company and is therefore considered independent.
The table below sets out the single total figure of https://amazonia.fiocruz.br/scdp/essay/pathetic-fallacy-examples/the-effects-of-capital-punishment-on-society.php received by each Executive Director for the year to 31 December and the prior year:.
Further details of the bonuses paid, including Group and individual targets set and performance against each of the metrics, are provided in the tables below:.
Dear Shareholder
The Committee has approved a payout of This was awarded in the context of their exceptional personal performance during the year Rrport significant progress made across a range of strategic initiatives, particularly in relation to health and safety. As stated in the policy table, for all current Executive Directors, one-third of the total annual bonus outcome for is deferred into SIG shares for three years, subject to clawback i.
In the Committee's view, the level of bonus paid to Executive Directors appropriately reflects the individuals' and Group's performance in an exceptionally difficult environment. On 26 AprilMr. Robertson received an award ofnil-cost options https://amazonia.fiocruz.br/scdp/essay/calculus-on-manifolds-amazon/is-death-penalty-ethical-or-should-it.php the LTIP. Vesting of the award was dependent on three year average ROCE, defined as underlying operating profit after tax divided by average net assets plus average net debt representing two-thirds of the awardand three year cumulative underlying EPS performance representing the remaining one-third of the award.
There was no re-testing of performance. The performance targets are illustrated overleaf:.
The Remuneration Committee
For the EPS element, if cumulative underlying EPS over the three financial years ending 31 December is less than or equal A Report On The Remuneration Committee 30p, O shares will vest. Awards vest in full for cumulative EPS of 40p or higher and vesting is on a straight line basis between these two points. Actual average ROCE was 9. Under normal circumstances it is expected that this should be achieved within five years of appointment. It is anticipated that the satisfaction of this target will be mainly achieved by the vesting of shares through the Company's share plans.
Executive Directors' current holdings as measured against the guideline is disclosed. On 18 SeptemberMr. Mitchell and Mr.]
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