Sasol Integrated Report 2023 - Book - Page 90
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
CREATING VALUE
PERFORMANCE
GOVERNANCE AND REWARDS
ADMINISTRATION
REMUNERATION REPORT CONTINUED
IMPLEMENTATION REPORT CONTINUED
Prescribed Officers
A. Prescribed Officers’ remuneration and benefits
S Baloyi3
B. Unvested long-term incentive holdings (number)
HC Brand4
BV Griffith5
BE Klingenberg6
2023
R’000
2022
R’000
2023
R’000
2022
R’000
2023
R’000
2022
R’000
2023
R’000
2022
R’000
Salary
Risk and Retirement funding
Vehicle benefit
Healthcare
Vehicle insurance fringe benefit
Security benefit
Other benefits
4 773
1 017
300
126
6
–
173
956
215
75
29
2
–
332
5 088
1 492
234
101
6
–
2 525
4 704
1 487
234
92
6
6
4
11 023
812
–
365
–
–
546
8 745
618
–
314
–
–
409
–
–
–
–
–
–
–
6 647
2 074
212
136
6
200
7
Total salary and benefits
Annual short-term incentive1
Long-term incentive gains2
6 395
3 672
4 103
1 609
2 494
3 687
9 446
3 553
6 045
6 533
4 415
13 169
12 746
6 087
7 169
10 086
6 418
11 940
–
–
–
9 282
4 390
9 912
Total annual remuneration
14 170
7 790
19 044
24 117
26 002
28 444
–
23 584
Prescribed Officers
Prescribed
Officers
CK Mokoena
CF Rademan8
2022
R’000
2023
R’000
2022
R’000
2023
R’000
2022
R’000
Salary
Risk and Retirement funding
Healthcare
Security benefit
Other benefits
7 778
380
60
–
1 008
7 317
372
56
–
5 004
6 283
357
143
12
3
5 927
350
115
9
2
6 753
–
–
–
2
2 027
–
–
–
1 500
Total salary and benefits
Annual short-term incentive1
Long-term incentive gains2
9 226
4 227
15 876
12 749
5 389
–
6 798
3 380
5 929
6 403
3 740
6 985
6 755
3 200
–
3 527
1 503
–
Total annual remuneration
29 329
18 138
16 107
17 128
9 955
5 030
Prescribed Officers
CumulaEffect
tive
of
balance
change in at the end
Awards Prescribed
of the
forfeited
Officers
year
52 040
139 064
144 426
120 403
113 178
10 681
24 060
37 603
28 595
23 598
(1 943)
(23 152)
(14 043)
–
(14 815)
448
1 860
1 389
–
1 001
(6 463)
(23 346)
(22 513)
–
(10 836)
–
(24 060)
–
–
–
–
(94 426)
–
–
–
54 763
–
146 862
148 998
112 126
Total
569 111
124 537
(53 953)
4 698
(63 158)
(24 060)
(94 426)
462 749
LTIs granted on 10 November 2022.
Prescribed Officers' remuneration and benefits notes
1
2023
R’000
Dividend
equivalents
Longterm
incentives
settled
S Baloyi
HC Brand
BV Griffith
BP Mabelane
CK Mokoena
1
BP Mabelane7
CumulaEffect of
tive
corporate
balance at Granted performbeginning
in
ance
of year
20231
targets
2
3
4
5
6
7
8
Short-term incentives approved based on the Group results for FY23 and payable in FY24. Incentives are calculated as a percentage of total
guaranteed package/base salary as at 30 June 2023 x Group and BU STI achievement (as appropriate) x Individual Performance achievement.
Long-term incentives for FY23 represent the annual award made on 4 December 2020 and Ms Mabelane's on-appointment LTI award on
6 October 2020, at time of her appointment as EVP: Energy Business. The illustrative amount is calculated in terms of the number of LTIs x
Corporate performance target achieved where relevant (67,34%) x June 2023 average share price. The vesting date is during FY24, 3 years after the
award date in FY21, 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 4 December 2023 and the balance in 4 December 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.
Other benefits for Mr Baloyi include the taxation gross up of the relocation allowance paid in terms of the Sasol Relocation policy, in the previous
financial year and R150 000 toward reimbursement of property transfer fees per the Relocation policy.
Mr Brand retired on 30 June 2023. Other benefits include accumulated leave encashment to the value of R2 516 801 in line with Sasol's contractual
commitment.
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.
Mr Klingenberg, stepped down from the position of EVP Energy Operations on 31 March 2022, but remained in service until his retirement on
31 August 2022. In the interest of transparency his remuneration was disclosed for the 2022 financial year.
Other benefits for Ms Mabelane include her subsidised business transport (R8 299) and the final payment of her sign-on/buy-out award partially
compensating for the loss of incentives and shares when she resigned from her previous employer (R1 000 000). Other benefits for Ms Mabelane in
2022 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).
Other benefits for Mr Rademan in 2022 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.
SASOL INTEGRATED REPORT 2023
89
