Remuneration Report/Continued
Remuneration at a glance
The components of remuneration for 2022/23 are:
Fixed pay
Variable pay
The annual bonus for 2022/23 is determined by:
8%
6%
30%
4%
Annual (and deferred) bonus Up to 60% of the
6%
4%
annual bonus is deferred into shares which will vest in two years’ time
4%
Base salary
8%
30%
The LTIP is based on three financial metrics, each measured over three years:
Personal and corporate objectives
Benefits
Improve income and occupancy Make progress against net zero carbon pathway Improve portfolio environmental factors Improve level of net property income and operational expenses Implementation of TCFD recommendations Positive stakeholder engagement Identify and evaluate growth opportunities
33%
33%
Long-term Incentive Plan (LTIP)
Pension contributions
Financial conditions Total return
Total property return Growth in EPRA earnings per share Total shareholder return
33%
Read more on pages 115–121
110
Picton Property Income Limited Annual Report 2023
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