UNBOUNCE - EXAMPLE PAGE-REPORT-ENTERPRISE DOCUMENT-KINGSPAN - Flipbook - Page 97
Overall, the annual and long-term
performance incentive opportunity,
at up to 375% of salary, remains
below arrangements at similarly
sized UK and Irish businesses.
The committee also reviewed the
performance framework of the
PSP scheme. For the 2022 PSP
Awards, the committee has selected
the same financial performance
measures based on EPS growth
and relative TSR. The peer group
against which TSR performance
will be measured for PSP grants
made in 2022 is set out adjacently.
The committee also reviewed
the EPS targets to ensure they
include significant stretch over the
performance period ahead and
are aligned with our principles of
alignment and pay-for-performance.
While the targets are unchanged in
absolute terms, coming from a high
base which includes record levels of
EPS, the committee considers that
these targets include significant
stretch and are appropriately aligned
with our risk appetite as well as
internal and external forecasts. In
order for maximum vesting, truly
exceptional performance is required.
There are no changes to the ESG
measures included in the LTIP,
which draws a clear focus on
growing sustainability. Details
of our achievements against our
ESG targets will be published in
Kingspan’s 2021 Planet Passionate
Sustainability Report.
Peer group for 2022 grant for PSP awards:
Armstrong World Industries Inc
Holcim Ltd
Boral Ltd
Mohawk Industries Inc
Compagnie de Saint Gobain SA
Owens Corning Inc
Cornerstone Building Brands Inc
Rockwool Intl. AS
CRH plc
Sika AG
Geberit AG
Travis Perkins plc
Grafton Group plc
Wienerberger AG
Performance
Measures
Weighting
Percentage
vesting at
threshold
Threshold
vesting
target
Maximum
vesting
target*
EPS
45%
22.5%
6% p.a.
12% p.a.
TSR
45%
22.5%
Median
Upper
quartile
Planet
Passionate
10%
0%
Various
Various
*Straight line vesting between threshold and maximum vesting
STHLM 01
Stockholm, Sweden
Insulation
Therma Roof
Insulation
Non-executive director fees
As outlined above, the independent
non-executive Chairman’s fee has
been set at €350,000 for the year
ahead. There is no change from prior
year to the basic non-executive fees
of €75,000. Subject to approval of
the new remuneration policy, an
additional fee of €15,000 will be paid
to the chairs of the Remuneration
Committee and the Audit &
Compliance Committee, as well
as for the Senior Independent
Director, to reflect their additional
roles and responsibilities.
Kingspan Group plc Annual Report & Financial Statements 2021
Report of the Remuneration Committee
