UNBOUNCE - EXAMPLE PAGE-REPORT-ENTERPRISE DOCUMENT-KINGSPAN - Flipbook - Page 93
Directors’ Remuneration for year ended 31 December 2021 (EUR’000)
Executive Directors
Gene
Murtagh
Geoff
Doherty
Russell
Shiels(1)
Gilbert
McCarthy
Peter
Wilson(10)
2021
2020
2021
2020
2021
2020
2021
2020
2021
Salary and Fees
888
888
573
573
520
523
530
530
Pension Contributions(2)
161
161
140
140
169
173
106
106
Benefits
35
33
34
31
53
48
43
1,084
1,082
747
744
742
744
Cash Element
888
-
573
-
520
Deferred Share Awards
444
-
287
-
260
LTI - Grant Value(6) (7)
1,499
1,308
830
740
768
LTI - Share Price Growth(6) (7)
1,826
900
1,011
509
936
Total Performance Pay
4,657 2,208
2,701
1,249 2,484 1,047 2,499
Total Remuneration
5,741
Total
2020
2021
2020
-
512
2,511
3,026
-
198
576
778
43
-
20
165
175
679
679
-
730
-
530
-
-
-
2,511
-
-
265
-
-
-
1,256
-
620
768
684
-
586
3,865 3,938
427
936
470
-
403
4,709 2,709
1,154
-
989
12,341 6,647
1,833
-
1,719 15,593 10,626
Fixed Remuneration
(3)
Total Fixed Remuneration
3,252 3,979
Performance Pay
Annual Incentives(4)
(5)
Long Term Incentives
3,290 3,448 1,993
3,226
1,791
3,178
Non Executive Directors(8)
Jost Massenberg
258
75
Linda Hickey
85
85
Michael Cawley
85
85
John Cronin
75
75
Anne Heraty
75
75
Éimear Moloney (9)
50
-
Paul Murtagh
50
-
Bruce McLennan (10)
25
75
Eugene Murtagh (10)
64
191
Total non-executive pay
767
661
(9)
Total Directors' remuneration
16,360 11,287
(1) Russell Shiels’ remuneration is denominated in USD, and has been converted to Euro at the following average rates USD: 1.1828 (2020: 1.142).
(2) The Group operates a defined contribution pension scheme for executive directors. Certain executives have elected to receive part of their
prospective pension entitlement as a non-pensionable cash allowance in lieu of the pension benefit foregone, subject to all applicable employee and
employer payroll taxes.
(3) Benefits principally relate to health insurance premiums and company cars/car allowances. In the case of Russell Shiels the cost of life insurance
and permanent health benefit is also included.
(4) The annual incentive amount is earned for meeting clearly defined EPS growth, divisional profit and NPS targets. Details of the bonus plan and
targets are set out on pages 88 to 91 of the Remuneration Report.
(5) Long Term Incentives are granted annually pursuant to the Kingspan Group Performance Share Plan (PSP). Details of the PSP scheme and targets
are set out on pages 88 to 91 of the Remuneration Report.
(6) The vesting value of the 2019 LTIP award (vesting in 2022) has been calculated using the average share price for the 30 days ending on
16/02/2022 being €86.06. The calculation for this award will be adjusted in next years' Annual Report to reflect the share price on the date of vesting
(25/02/2022). The share price increased from the date of grant (share price: €38.80) to the share price used to determine the vesting value (share
price: €86.06).
(7) The vesting value of the 2018 LTIP award (that vested in 2021) has been calculated using the share price at the date of vesting (26/02/2021) of
€60.25. The share price increased from the date of grant (share price: €35.70) to the date of vesting (share price: €60.25).
(8) Non-executive directors receive a base fee of €75,000 per annum, plus an additional fee of between €7,500 and €10,000 for chairmanship of board
committees. They do not receive any pension benefit, or any performance or share based remuneration.
(9) Éimear Moloney and Paul Murtagh were appointed as non-executive directors on 30 April 2021.
(10) Peter Wilson retired as an executive director on 31 December 2020. Bruce McLennan and Eugene Murtagh both retired as non-executive directors
on 30 April 2021.
Kingspan Group plc Annual Report & Financial Statements 2021
Report of the Remuneration Committee
