Non-executive directors (NEDs).

Non-executive directors (NEDs).

FEES

The table below shows the current fee structure and actual fees paid in 2013. There were no benefits for 2013. The current aggregate limit for fees paid to NEDs is £1,500,000 pa.

(XLS:) Fee structure for the NEDs

 

Henry Staunton

Rudy Markham

Nick Prettejohn

Mike Fairey

Dame Clara Furse

Stuart Popham

Julia Wilson

Lindsay Tomlinson

Liz Zlatkus

John Stewart
Chairman

£000s

A N Ri

R N

Ri A R N

A R N

N Ri

N R Ri

A N Ri

Ri R N

N Ri

N

Key:

NED committee membership:

A = Audit

N = Nominations

R = Remuneration

Ri = Risk

     = Chairman

*

if sitting on two or more committees, excluding Nominations committee

Base

65

65

65

65

65

65

65

65

65

340

Committee fee*

10

 

10

10

 

10

10

10

 

 

Committee Chairman

30

30

30

 

 

 

30

30

 

 

SID

20

20

 

 

 

 

 

 

 

 

Total fee

125

115

105

75

65

75

105

105

65

340

Actual fee 2013

52

106

46

75

27

75

85

61

5

340

Actual fee 2012

125

95

106

75

66

75

65

340

 

Note 1

Note 2

Note 3

Note 4

Note 5

Note 6

Note 7

Note 8

Note 9

 

SHAREHOLDING REQUIREMENTS

In line with the remuneration policy, NEDs are required to build up a shareholding equivalent to one times base fee. The table below shows their shareholding as at 2 January 2014, taking into account share purchases in relation to December 2013 fees, purchased on 2 January 2014.

NED Shareholding Requirement

(XLS:) NED Shareholding Requirement

Name

Share­holding

Value of holding £

Total Fee £

Base
Fee £

Holding as a % of base fee

Met criteria of 1 x base fee

Shares purchased from 1 January 2014 to 28 February 2014 – Note 10

Share price used for calculations: £2.227 as at 31 December 2013.

The table includes shares purchased with December fees on 2 January 2014.

 

 

Note 1 – Henry Staunton stepped down from Board at AGM 2013

Note 2 – Rudy Markham assumed role of SID from AGM 2013

Note 3 – Nick Prettejohn stood down from the Board on 6 June 2013

Note 4 – Mike Fairey sits on two committees, excluding Nominations

Note 5 – Dame Clara Furse stood down from the Board on 1 May 2013

Note 6 – Stuart Popham sits on two committees, excluding Nominations

Note 7 – Julia Wilson assumed role of chairman of Audit Committee from AGM 2013 and sits on two committees, excluding Nominations

Note 8 – Lindsay Tomlinson joined the Board on 1 May 2013 and became chairman of the Risk Committee from 24 July 2013

Note 9 – Liz Zlatkus joined the Board on 1 December 2013

Note 10 – These were regular monthly purchases of shares as part of their remuneration

John Stewart

278,054

619,226

340,000

340,000

182%

yes

6,829

Henry Staunton – Note 1

314,069

699,432

125,000

65,000

1,076%

yes

Rudy Markham – Note 2

222,222

494,888

115,000

65,000

761%

yes

2,606

Nick Prettejohn – Note 3

Mike Fairey – Note 4

37,586

83,704

75,000

65,000

129%

yes

1,495

Stuart Popham – Note 6

39,750

88,523

75,000

65,000

136%

yes

1,495

Dame Clara Furse – Note 5

Julia Wilson – Note 7

28,164

62,721

105,000

65,000

96%

No

Lindsay Tomlinson – Note 8

8,210

18,284

105,000

65,000

28%

No

2,099

Liz Zlatkus – Note 9

695

1,548

65,000

65,000

2%

No

1,417

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