Sasol Integrated Report 2022 - Book - Page 73
INTRODUCTION | ABOUT SASOL
STRATEGIC OVERVIEW
CREATING VALUE
GOVERNANCE AND REWARDS
DELIVERING
ADMINISTRATION
REMUNERATION REPORT (CONTINUED)
Prescribed Officers
PRESCRIBED OFFICERS’ REMUNERATION AND BENEFITS
S Baloyi3, 4
Prescribed Officers (SA)
Salary
Risk and Retirement
funding
HC Brand
BE Klingenberg12
BP Mabelane5
CK Mokoena
M Radebe11
CF Rademan6, 7
HA Rossouw8, 9
2022
R’000
2021
R’000
2022
R’000
2021
R’000
2022
R’000
2021
R’000
2022
R’000
2021
R’000
2022
R’000
2021
R’000
2022
R’000
2021
R’000
2022
R’000
2021
R’000
2022
R’000
2021
R’000
956
–
4 704
4 200
6 647
6 046
7 317
5 606
5 927
5 459
–
1 192
2 027
–
1 737
–
215
–
1 487
1 472
2 074
1 966
372
392
350
324
–
166
–
–
196
–
Vehicle benefit
75
–
234
234
212
212
–
–
–
–
–
66
–
–
–
–
Healthcare
Vehicle insurance fringe
benefit
29
–
92
86
136
114
56
44
115
93
–
25
–
–
–
–
2
–
6
6
6
6
–
–
–
–
–
2
–
–
–
–
–
–
6
20
200
391
–
–
9
12
–
22
–
–
–
–
332
–
4
–
7
10
5 004
5 001
2
5
–
784
1 500
–
8 001
–
Total salary and benefits
1609
–
6 533
6 018
9 282
8 745
12 749
11 043
6 403
5 893
–
2 257
3 527
–
9 934
–
Annual short-term
incentive1
Long-term incentive gains2
2 494
3 687
–
–
4 415
13 169
6 852
940
4 390
9 912
8 940
1 583
5 389
–
7 698
–
3 740
6 985
6 300
1 212
–
4 819
–
980
1 503
–
–
–
–
–
–
–
Total annual remuneration
7 790
–
24 117
13 810
23 584
19 268
18 138
18 741
17 128
13 405
4 819
3 237
5 030
–
9 934
–
Security benefits
Other benefits
BV Griffith10
Prescribed Officers
(International)
Salary
Risk and Retirement funding
Vehicle benefit
Healthcare
JR Harris13
2022
2021
2022
2021
R’000
R’000
R’000
R’000
8 745
7 425
–
5 612
618
441
–
325
–
–
–
27
314
305
–
141
–
Vehicle insurance fringe
benefit
–
–
–
Security benefit
–
–
–
1
409
349
–
1 762
–
–
–
1 019
10 086
8 520
–
8 887
Annual short-term incentive1
Long-term incentive gains2
6 418
11 940
8 022
885
–
–
3 642
1 135
Total annual remuneration
28 444
17 427
–
13 664
Other benefits
Redundancy payment
Total salary and benefits
1.Short-term incentives approved based on the Group results for 2022 and payable in the 2023 financial year. Incentives are calculated as a percentage of total guaranteed
package/base salary as at
30 June 2022 x Group STI achievement x BU achievement x Individual performance achievement.
2. Long-term incentives for 2022 represent the award made on 3 March 2020 or 31 October 2019 (Mr Baloyi). The illustrative amount is calculated in terms of the number of LTIs
x Corporate performance target achieved (GEC: 54.31%; SVP: 77.15%) x June 2022 average share price. The actual vesting date for the annual awards is 3 March 2023 or October
2022 (Mr Baloyi), subject to the company being in an open period. Dividend equivalents accrue at the end of the vesting period, to the extent that the LTIs vest. 50% of the
vested LTIs and accrued dividends will be released on 3 March 2023 and the balance in March 2025, subject to the rules of the LTI plan. As there are no further performance
conditions attached to the balance of the 50%, the full amount is disclosed in the single figure table.
3. Mr Baloyi was appointed from 1 April 2022. STI is calculated pro rata in respect of his SVP and EVP roles. Salary and benefits only disclosed from 1 April 2022.
4. Other benefits for Mr Baloyi include a relocation allowance of R306 000 and a settling-in allowance of R25 000.
5. Other benefits for Ms Mabelane include her subsidised business transport (R2 150), sign-on/buy-out award partially compensating for the loss of incentives and shares when
she resigned from her previous employer (R5 000 000). This amount is made up of the second and third tranche of her staggered sign-on/ buy-out award of R11 000 000.
The balance will be paid out in the next twelve months subject to continued service and further retention periods.
6. Mr Rademan was appointed from 9 March 2022.
7. Other benefits for Mr Rademan include a sign-on payment of R1 500 000 compensating for the incentive which he would have received from his previous employer if he
did not resign.
8. Mr Rossouw was appointed as CFO designate from 4 April 2022 and became CFO and Executive Director on 1 July 2022.
9. Other benefits for Mr Rossouw include a buy-out payment of R8 000 000, tied to a retention period of twenty-four months from date of payment, as compensation
for incentives forfeited upon resigning from his previous employer. Mr Rossouw was CFO designate until 30 June 2022. He was not eligible for a 2022 STI award.
10. Mr Griffith is appointed in the USA. Dollar denominated salary and benefits have been converted to ZAR using the monthly average of daily closing exchange rates. ZAR/USD
depreciation contributes to increase in year-on-year totals.
11. Mr Radebe retired in 2021. These awards were granted during his employment and were treated in terms of the “good leaver” rules.
12. Mr Klingenberg handed over all executive responsibilities to Mr Baloyi by 1 April 2022 when he ceased to be a Prescribed Officer. Full year’s remuneration is disclosed in the
interest of transparency.
Mr Klingenberg will retire on 31 August 2022.
13. Mr Harris's position was declared redundant effective 18 January 2021.
SASOL INTEGRATED REPORT 2022
72
