20645_Scapa_AR_160504

DIRECTORS’ ANNUAL REMUNERATION REPORT
CORPORATE GOVERNANCE
Where indicated, the information provided in the following pages of this report has been audited by Deloitte LLP.
SINGLE FIGURE FOR TOTAL REMUNERATION (AUDITED INFORMATION)
The following table sets out the single figure for total remuneration for Directors for the financial years ended 31 March 2015 and 2016.
Salary/fees
£
Benefits 1
£
Bonus 2
£
Share Price
Incentive bonus
£
PSP awards
£
Director 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015 2016 2015
Executive
Directors
H R Chae 396,975 376,250 27,074 26,931 397,917 376,250 395,000 – 1,930,000 – 79,395 75,250 3,226,361 854,681
P Edwards 239,428 224,890 11,920 11,777 241,709 228,028 228,028 – 1,101,148 – 47,886 44,978 1,870,118 509,673
G S Hardcastle 3 40,833 – 1,823 – – – – – – – 8,167 – 50,823 –
Non-Executive
Directors
J A S Wallace 100,000 100,000 – – – – – – – – – – 100,000 100,000
R J Perry 42,000 45,333 – – – – – – – – – – 42,000 45,333
M C Buzzacott 45,000 44,583 – – – – – – – – – – 45,000 44,583
M T Sawkins 45,000 11,250 – – – – – – – – – – 45,000 11,250
Pension
£
1
Benefits include all tax assessable benefits arising from the individual’s employment, including car allowance, private healthcare and permanent
health insurance.
2
On occasions, bonus payments include amounts for previous period. For 2016 for H R Chae this includes £[XX] (2015: £Nil) and for P Edwards
this includes £[XX] (2015: £Nil).
3
Appointed as a Director 1 February 2016
Total
£
Total
£
ADDITIONAL DISCLOSURES FOR SINGLE FIGURE FOR TOTAL REMUNERATION TO 31 MARCH 2016
Salary
The Chief Executive’s salary from 1 April to 31 December 2015 was £395,000 (on an annualised basis) and was increased by 2% to £402,900
per annum with effect from 1 January 2016, reflecting the continued success of the Group and his track record in the role. The Group Finance
Director received an increase of 6% to £241,710 (on an annualised basis) from 1 June 2015, to reflect his strong personal performance in the
role and his leadership. The Committee believes that the increases awarded to the Chief Executive and Group Finance Director are fair and in
line with the good performance of the Group in the year under review and the continuing strong performance and leadership of the individuals.
Graham Hardcastle was appointed as an Executive Director on 1 February 2016 and he assumed the role of Group Finance Director on
1 May 2016 on Paul Edwards’ retirement from office. His salary is £245,000 on an annualised basis.
Pension contributions
The Company pays contributions to the nominated personal pension plans of the Executive Directors, or makes a cash in lieu supplement,
in each case at a rate equal to 20% of salary.
Annual Performance Bonus
The 2016 bonus for the Executive Directors and Senior Executives was based on growth in the Group’s operating profit measured against
prior year. The actual target range has not been disclosed, as the Board considers this to be commercially sensitive information. The actual
bonuses awarded to each Executive Director and Senior Executive were up to 100% of maximum potential bonus for the year.
LONG-TERM INCENTIVES
Performance Share Plan (PSP)
The Company adopted a PSP in 2004, which was replaced in 2011 by a new PSP adopted by the Company at the AGM. Mr Chae
holds 400,000 vested and unexercised options under the 2004 PSP, having exercised his option over 100,000 shares in December 2012.
All other awards under the 2004 PSP have lapsed. Since 2011, all PSP awards have been made under the 2011 PSP.
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ANNUAL REPORT AND ACCOUNTS 2016 SCAPA GROUP PLC