Annual report and accounts 2023 - Flipbook - Page 115
Strategic Report
Element
Purpose and link to strategy
Operation
Corporate Governance
Maximum opportunity
Accounts
Performance measures
R.A. White will continue to be entitled
to receive life assurance benefits as if
he were in pensionable service under
the Scheme until his normal retirement
date notwithstanding the termination
of his employment with the Company,
but only in circumstances where he
is a “good leaver”, as set out in his
service contract.
Retirement
benefits
continued
The maximum Company contribution
under the A.G. Barr Retirement Plan
in respect of the remaining executive
directors is 24% of salary. All executive
directors have now elected to receive
Company pension contributions in the
form of a cash allowance.
Shareholding Purpose is to further align the
executive directors’ long term
guidelines
interests with those of shareholders.
Not applicable.
During employment
The CEO and new executive directors must
retain all shares acquired under LTIP awards
and deferred bonus shares and retain half of
any bonus pay-out after tax (net of the
relevant deferred bonus shares) to purchase
shares in the Company until the value of their
shareholding is equal to 200% of gross basic
salary. Incumbent executive directors (other
than the CEO) must retain all shares acquired
under LTIP awards and deferred bonus shares
and retain half of any bonus pay-out after tax
(net of the relevant deferred bonus shares)
to purchase shares in the Company until the
value of their shareholding is equal to 150%
of gross basic salary.
Not applicable.
Until the relevant shareholding is acquired,
the executive director may not, without
Remuneration Committee approval, sell
shares other than to finance any tax liabilities
arising from the vesting or release of awards.
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