Sasol Integrated Report 2022 - Book - Page 63
INTRODUCTION | ABOUT SASOL
STRATEGIC OVERVIEW
CREATING VALUE
GOVERNANCE AND REWARDS
DELIVERING
ADMINISTRATION
REMUNERATION REPORT | REMUNERATION AT A GLANCE
2022 remuneration outcomes: actual vs policy (as at 30 June 2022)
Members of the Group Executive Committee
%
Our Remuneration Philosophy
President and
Chief Executive Officer
Our Remuneration Philosophy is to use internally equitable and
externally competitive, affordable salary, benefits and incentive
structures to attract, retain and motivate qualified, skilled and engaged
employees to work towards achieving the Group’s strategic objectives
in a values-driven manner and to create stakeholder value responsibly
and sustainably.
Chief Financial
Officer
Group Executive
Committee
(including
other directors)
700
The Committee reviewed and approved
the following policy changes for 2022:
600
500
• Weighted short-term incentive
248
182
300
Our Remuneration Policy
150
187
125
259
110
123
200
Minimal policy changes were made during 2022.
115
87
90
203
100
100
75
83
169
61
100
100
0
targets: Short-term incentive
calculation based on a
weighted score in respect of the Group
and Business Unit performance goals
with individual performance being
a multiplier. In 2021 only a group
scorecard was used
206
400
100
Threshold Target
100
Max
100
100
2022 1, 4 Threshold Target Max
100
100
100
2022 1, 2 Threshold Target
Annual base salary/Total Guaranteed Package (TGP)
STI
100
100
Max 2022 1, 3, 5
LTI
• Final reduction in target LTI award
for CEO and CFO was implemented
• LTI Plan changes to become effective
1.
2.
3.
4.
The percentages achieved for 2022 are reflected as a percentage of salary/TGP.
Mr Victor only received an STI for 2022. All unvested LTIs lapsed on his final day of service.
Value for non-SA GEC member was converted to rand using June 2022 average daily exchange rates.
Mr Grobler’s LTIs represent 54,31% of the award made to him at the time of his appointment to President
and CEO, valued at period end.
5. For Messrs Griffith and Brand, LTIs include 54,31% of the awards made to them at the time of their
appointment to the GEC, valued at period end.
STRATEGIC
INTENT
Shareholder feedback
ELIGIBILITY
Non-binding advisory votes on the Remuneration Policy and Implementation Report
NOVEMBER 2021
REMUNERATION
POLICY
IMPLEMENTATION
REPORT
Fixed Pay
Short-Term Incentives
Long-Term Incentives
• Attraction and retention
of key employees
• Internal equity and external
competitiveness
• Recognition of individual
performance
• Benchmarked to location
market median
• Promote value creation
including safe and
sustainable performance
• Alignment with Group
and Business Unit
financial and non-financial
performance goals
• Personal performance used
as a multiplier in the final
calculation
• Additional penalty
for fatalities
• All permanent employees
• Annually in September
• Attraction and retention
of senior employees and
scarce and critical skills
• Alignment with shareholders’
long-term interests
• Three to five year vesting
periods
• Minimum shareholding
requirements for Prescribed
Officers and Executive Directors
• All permanent employees
• Monthly/bi-weekly (USA
only)
FREQUENCY
OF PAYMENT/
SETTLEMENT
NON-EXECUTIVE
DIRECTORS’ FEES
86,90%
86,11%
86,46%
FOR
FOR
FOR
EMOLUMENTS
SASOL INTEGRATED REPORT 2022
62
from 2023, subject to shareholders’
approval
• Cash/basic salary
and benefits
• Cash
• Senior Management and above
• Subject to achievement of
performance and time targets:
• Senior Management and
Leadership: three years
• Senior Leadership and Group
Executive: 50% after three
years; 50% after additional
two years (performance
shares)
• Group Executive: Five years
for restricted shares
(no performance targets)
• Cash or Equity Settled
(region dependent)
