Sasol Integrated Report 2024 - Book - Page 157
INTRODUCTION
ABOUT SASOL
STRATEGIC OVERVIEW
BUSINESSES
ESG
REMUNERATION REPORT
DATA AND ASSURANCE / ADMINISTRATION
PART IV: REMUNERATION IMPLEMENTATION REPORT continued
Prescribed Officers
A. Prescribed Officers’ remuneration and benefits
S Baloyi3
V Bester6
HC Brand5
AGM Gerber6
BV Griffith7
C Herrmann8
2024
R’000
2023
R’000
2024
R’000
2023
R’000
2024
R’000
2023
R’000
2024
R’000
2023
R’000
2024
R’000
2023
R’000
2024
R’000
2023
R’000
Salary
Risk and Retirement funding
Vehicle benefit
Healthcare
Taxable fringe benefits
4 352
857
225
106
20
4 773
1 017
300
126
179
1 386
211
–
28
1 001
–
–
–
–
–
–
–
–
–
–
5 088
1 492
234
101
2 531
1 943
51
75
21
113
–
–
–
–
–
9 594
2 012
–
311
469
11 023
812
–
365
546
1 845
142
–
25
648
–
–
–
–
–
Total salary and benefits
5 560
6 395
2 626
–
–
9 446
2 203
–
12 386
12 746
2 660
–
Short-term incentive1
Long-term incentive2
4 418
–
3 672
4 103
479
1 086
–
–
–
–
3 553
6 045
–
–
–
–
2 730
2 935
6 087
7 169
577
2 062
–
–
Total annual remuneration
9 978
14 170
4 191
–
–
19 044
2 203
–
18 051
26 002
5 299
–
Prescribed officers
BP Mabelane9
SD Pillay10
CK Mokoena
CF Rademan11
H Wenhold12
Prescribed officers
2024
R’000
2023
R’000
2024
R’000
2023
R’000
2024
R’000
2023
R’000
2024
R’000
2023
R’000
2024
R’000
2023
R’000
Salary
Risk and Retirement funding
Vehicle benefit
Healthcare
Taxable fringe benefits13
6 153
290
–
47
22 625
7 778
380
–
60
1 008
6 655
363
–
157
21
6 283
357
–
143
15
1 192
192
38
28
–
–
–
–
–
–
2 314
–
–
–
249
6 753
–
–
–
2
3 548
1 039
71
75
28
–
–
–
–
–
29 115
9 226
7 196
6 798
1 450
–
2 563
6 755
4 761
–
–
–
4 227
15 876
2 119
2 295
3 380
5 929
422
778
–
–
1 624
–
3 200
–
1 378
3 791
–
–
29 115
29 329
11 610
16 107
2 650
–
4 187
9 955
9 930
–
Total salary and benefits
1
Short-term incentive
Long-term incentive2
Total annual remuneration
Notes
1
Short-term incentives approved based on the Group results for FY24 and payable in the FY25 financial year. Incentives are calculated as a percentage of total guaranteed package/base salary as at 30 June 2024 x Group STI achievement x Individual Performance Achievement.
2
Long-term incentives gains for 2024 represent the annual and on-appointment grant awards made between 27 September 2021 and 25 May 2022. The illustrative amount is calculated in terms of the number of LTIs x Corporate performance target achieved where relevant (between
83,6% and 100%) x June 2024 average share price. The actual vesting date for the awards is between 27 September 2024 and 25 May 2025 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 in FY25 and the balance in FY27, 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 as Executive Director, President and CEO from 1 April 2024. His current remuneration has been apportioned between his 9-month service as a Prescribed Officer and 3 month service as President and CEO.
4
Mr Bester was appointed as EVP: Energy Operations and Projects from 1 April 2024. When Mr Bester joined in May 2022, a staggered buy-out agreement was implemented to partially compensate for variable pay already earned with his previous employer but forfeited upon
resignation before the vesting date. The last tranche of R1 million was paid in May 2024.
5
Mr Brand retired on 30 June 2023. Taxable fringe benefits include a R2 516 801 million accumulated leave encashment paid with his final salary.
6
Ms Gerber was appointed on 15 April 2024 as Prescribed Officer and EVP: International Chemicals on a German employment contract, payable in Euros. Taxable fringe benefits include accommodation costs for a three-month period, per her contract of employment.
7
Mr Griffith stepped down as Prescribed Officer and EVP Chemicals on 14 April 2024. His Retirement funding includes a contractually agreed retirement gratuity of $65 000.
8
Mr Herrmann was appointed as Prescribed Officer and EVP: Marketing and Sales Energy and Chemicals Southern Africa from 1 April 2024 on a German employment contract, expatriated to South Africa. His salary continues to be paid in Euros. Taxable fringe benefits include relocation costs
from Germany to South Africa.
9
An agreement was reached with Ms Mabelane regarding her resignation from the Company on 31 March 2024. Taxable fringe benefits include an agreed separation payment. She has no further rights to any other compensation.
10
Dr Pillay was appointed as Prescribed Officer and EVP: Business Building, Strategy and Technology from 1 April 2024.
11
Mr Rademan retired as Prescribed Officer and EVP: Sasol Mining on 31 October 2023. A pro rata STI payment in respect of Mining specific objectives achieved for the contract period, was approved by the Committee. Mr Rademan did not receive any LTIs for the contract period.
12
Mr Wenhold was appointed as Prescribed Officer and EVP: Mining, Risk and SHE from 1 November 2023.
13
Taxable fringe benefits may include vehicle insurance, security costs, leave encashment on service termination and other contractually agreed benefits.
SASOL INTEGRATED REPORT 2024
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