Remuneration Report continued
Remuneration at a glance
The components of remuneration for 2021/22 are:
Fixed pay
Read more on pages 101–107
Base salary
Benefits
Pension contributions
Variable pay The annual bonus for 2021/22 is determined by:
The LTIP is based on three financial metrics, each measured over three years:
4%
4%
6%
33%
33%
30%
Annual (and deferred) bonus Up to 50% of the
6%
2%
Long-term Incentive Plan (LTIP)
4%
annual bonus is deferred into shares which will vest in two years’ time
6%
8%
30%
33%
Personal and corporate objectives Improve occupancy and income profile Devise and publish net zero carbon pathway Improve portfolio environmental factors Embed Picton flexi-leasing on smaller assets
Financial conditions Total return
Complete key refurbishment projects on budget and on time Consider options to improve operating efficiency Positive stakeholder engagement Identify and evaluate growth opportunities
Total property return Growth in EPRA earnings per share
Picton Property Income Limited Annual Report 2022
96
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