Cohesive Consistent Confident

Henry Boot PLC
Annual Report and Financial Statements for the year ended 31 December 2015
www.henryboot.co.uk
Stock Code: BHY
Governance
Directors’ Remuneration Report continued
Vesting between the 25% threshold and the maximum award will
be on a pro rata basis. The weightings for each measure have
been chosen because the Committee believes that they each
have equal importance in aligning the interests of shareholders
and the Executive Directors. In addition to the amended
performance criteria calculation, the Committee reduced the
amount of the award vesting at threshold from 30% to 25% from
awards in 2014 onwards. For Jamie Boot any grant of awards in
2017 and 2018 will be on a pro rata basis to his retirement date
of 31 December 2015 under the provisions for good leavers.
Pension entitlement
Jamie Boot began drawing his pension benefits from
19 November 2012 and therefore no pension contributions
are made on his behalf. Instead, a salary in lieu of pension
contributions at a rate of 20% of salary is paid; in 2015 this
payment amounted to £73,055.
John Sutcliffe is a member of the Henry Boot PLC Group
Stakeholder Pension Plan. Contributions are made at 20% of
basic salary and contributions to the Scheme in the year were
£40,821 (2014: £40,000). The annual allowance for tax relief on
pension savings applicable to John Sutcliffe in 2015 was £40,821
and he elected to receive a salary supplement in lieu of the
employer contributions over and above this level which amounted
to £9,041 (2014: £8,411).
The Henry Boot PLC Group Stakeholder Pension Plan provides
a lump sum death in service benefit, a refund of contributions
on death in service and, on death after retirement, a pension
for dependants subject to what the policyholder decides. The
notional leaving work age is currently 65.
Payments to past Directors
There were no payments made to past Directors during the
period in respect of services provided to the Company as a
Director.
Payments made for loss of office
There were no payments made during the period in respect of
loss of office to a Director.
Statement of Directors’ shareholdings and share interests
At
31 December
2014
Legally owned
Legally
owned
SAYE
(not subject
to
performance)
At 31 December 2015
LTIPS
subject to
performance
measures
Total
Shareholding
as a %
of salary at
31 December
2015 1
Jamie Boot 5,672,964 5,734,562 — 305,611 6,040,173 16,912
John Sutcliffe 511,445 510,445 — 361,204 871,649 519
John Brown 35,000 35,000 — — 35,000 n/a
Michael Gunston 23,000 23,000 — — 23,000 n/a
James Sykes 20,000 20,000 — — 20,000 106
Joanne Lake n/a 10,710 — — 10,710 57
Gerald Jennings n/a — — — — —
Peter Mawson n/a — — — — —
The share price at 31 December 2015 was 224.00p. The salary used for this calculation is that which commences on
1 January 2016.
1 As laid out in the Remuneration Policy, which can be viewed on the website:
www.henryboot.co.uk/about-us/governance
Executive Directors are required to acquire shares outright to the value of 100% of basic salary. We note the NAPF recommends that a holding of 200% is more
appropriate. Both Executive Directors comfortably exceed this level; however, the Remuneration Committee believes that setting this level as a policy for a new director is
too onerous over a period of three years. The shareholding requirement for Non-executive Directors that has been proposed in the Remuneration Policy table is that over
three years they should build up to a holding which is 50% of basic remuneration.
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