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Remuneration Report / Continued
Remuneration at a glance
The components of remuneration for 2023/24 are:
Fixed pay
Variable pay The annual bonus for 2023/24 is determined by:
4% 2%
4%
4%
30%
Annual (and deferred) bonus 55% of the annual bonus is deferred into shares which will vest in two years’ time
4%
6%
Base salary
8%
8%
30%
The LTIP is based on three financial metrics, each measured over three years:
Benefits
Personal and corporate objectives
Improve net income Identify and evaluate growth opportunities Make progress against net zero carbon pathway Reduce portfolio void Make asset disposals Positive stakeholder engagement Successful CFO succession planning and transition Successful internalisation of company secretarial function Financial conditions Total return Total property return Growth in EPRA earnings per share Total shareholder return
33%
33%
Long-term Incentive Plan (LTIP)
Pension contributions
33%
Read more on pages 120–126
See page 121 for Performance conditions and assessment
Picton Property Income Limited / Annual Report 2024 114
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