Annual report and accounts 2023 - Flipbook - Page 98
A.G. BARR p.l.c. Annual Report and Accounts 2023
Directors’ Remuneration Report continued
Long term incentives – audited information
Awards vesting in respect of the financial period
LTIP awards granted in November 2020 were subject to the following EPS and TSR performance measures:
% of maximum
opportunity
Threshold vesting at 20%
of the maximum award
Maximum vesting at 100%
of the maximum award
Actual cumulative
EPS for period
Actual vesting
(as a % of maximum for
each measure)
Cumulative EPS for the period including 2020/21, 2021/22
and 2022/23
50%
65.0p
75.0p
76.43p
50.0%
TSR* for the period including 2020/21, 2021/22 and 2022/23
50%
Median
Upper quartile
–
21.1%
Share price**
£
LTIP value
£000
*
Ranked TSR performance measured against the constituents of the FTSE 250 index (excluding investment trusts and financial services companies)
The salary used in the calculation of the award is the individual director’s salary at 1 October 2020.
Details of LTIP awards vesting in respect of the financial period are set out below:
Year ended 29 January 2023
Executive director
Total shares
Number
Vesting (% of maximum
opportunity) %
Shares awarded*
Number
R.A. White
133,899
71.1%
99,802
5.07
506
S. Lorimer
92,174
71.1%
68,702
5.07
348
70,219
71.1%
52,338
5.07
J.D. Kemp
Total
*
**
296,292
220,842
265
1,119
Shares vesting under the LTIP for the year ended 29 January 2023 include dividend equivalents from the award date for each director.
The long term incentives figure for the year ended 29 January 2023 has been valued using the average closing share price for the three months ended 29 January
2023 as an estimate of the value of the incentive, as the actual value of the award will not be finalised until the closing share price is known when the incentive vests
in November 2023.
An estimate of the amount of LTIP awarded in November 2020 attributable to share price appreciation is set out below:
Executive director
R.A. White
157
S. Lorimer
108
J.D. Kemp
82
Total
96
Share price appreciation
£000
347
