The numbers of shares beneficially held by each Director (including connected persons) as at 31 March 2021, were as follows: Beneficial holding 2021 Beneficial holding 2020 Holding as a % of salary Outstanding LTIP awards
Outstanding DBP awards
Michael Morris
328,485 53,596 113 967,824 390,470 201,978 28,500 102 593,121 271,070
Andrew Dewhirst
Lena Wilson
30,000
N/A
Nicholas Thompson
N/A 215,000 N/A 600,000
Roger Lewis Mark Batten Maria Bentley Richard Jones
–
–
74,436 74,436
53,845
N/A
The percentage holding for the Executive Directors is based on base salaries as at 31 March 2021 and a share price of £0.858. The beneficial holdings of shares include any held by connected persons. Executive Directors are required to maintain a shareholding of 200% of base salary and both Directors are currently in the process of building up to that level. The Executive Directors intend to retain at least 50% of any share awards (post-tax) until the guidelines are met. There have been no changes in these shareholdings between the year-end and the date of this report. Payments to past Directors or payments for loss of office There were no payments to past Directors or payments for loss of office to Directors during the year ended 31 March 2021. Historical total shareholder return performance The graph below shows the Company’s total shareholder return (TSR) since 31 March 2011 as represented by share price growth with dividends reinvested, against the FTSE All-Share Index and the FTSE EPRA NAREIT UK Index. These indices have been chosen as they provide comparison against relevant sectoral and pan-sectoral benchmarks.
400
350
300
250
200
150
100
50
Key:
Picton
FTSE EPRA NAREIT UK
FTSE All-Share
The table below shows the remuneration of the Chief Executive for the past three years, together with the annual bonus percentage and LTIP vesting level. The Company has only had a Chief Executive since 1 October 2018 and therefore the table below shows his remuneration for the past three years.
LTIP vesting (% of maximum award)
Total remuneration (£000)
Annual bonus (% of maximum)
2021 2020 2019
846 80% 67% 769 70% 67% 920 79% 83%
95
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