RWS AR 23 Final Single pages - Flipbook - Page 93
SHARE AWARDS GRANTED IN THE YEAR
The following LTIP awards were granted to the Executive
Directors in January 2023:
Basis of award
Number of shares
under award
Ian ElMokadem
200% of salary
314,207
Candida Davies
175% of salary
181,516
The awards have an exercise price of one penny per share
and vest three years from the grant (with a two year post
vesting holding period) subject to continued employment
and the Company’s Earnings Per Share (EPS) and Total
Shareholder Return (TSR) as follows:
50% of
awards
Absolute Adjusted EPS targets for the
year ending 30 September 2025:
No vesting: 0% of this part of an award
vests for compound annual growth in EPS
below 4.1%
Threshold vesting: 25% of this part of an
award vests for compound annual growth
in EPS of 4.1% increasing pro-rata to
Maximum vesting: 100% of this part of
an award vests for compound annual
growth in EPS of 10.1% or more
50% of
awards
Relative TSR measured over the three
years ending 30 September 2025
against the constituents of the FTSE 250
(excluding investment trusts):
No vesting: 0% of this part of an award
vests for TSR below median
Threshold vesting: 25% of this part of an
award vests for median TSR increasing
pro-rata to
Maximum vesting: 100% of this part of
an award vests for upper quartile TSR
In addition to the performance conditions detailed above,
the Remuneration Committee retains the discretion to
adjust the level of vesting that would apply (including to nil
vesting) if it considers this to be appropriate (for example
to counter windfall gains or to have regard to underlying
昀椀nancial performance and/or the shareholder experience
over the measurement period).
GOVERNANCE REPORT
RWS Holdings plc — Annual Report 2023
93
