Governance
Strategic Report
Financial Statements
Additional Information
The single figure of remuneration for the Directors for the year 2022/23 (in £ thousands) is:
Chief Executive
Finance Director
Non-Executive Directors
9
5
384
82
137
822
281
549
262
331
225
287
205
301
3
3
50
34
276
438
Salary
Benefits
Pension
Annual bonus
Long-term Incentive Pay
Total fixed
Total variable
The potential remuneration of the Executive Directors for the year to 31 March 2024 is:
Chief Executive
Finance Director
The following charts show the composition of the Executive Directors’ remuneration at three performance levels: ‒ Fixed pay – base salary from 1 April 2023, benefits and pension salary supplement of 15% of base salary ‒ On target – fixed pay plus target vesting for the annual bonus (at 50% of maximum opportunity for illustrative purposes) and threshold vesting for the LTIP (at 25% of maximum award) ‒ Maximum – fixed pay plus maximum vesting for both the annual bonus (145% of base salary) and the LTIP (93.75% (Chief Executive) and 82.5% (Finance Director) of base salary) ‒ Maximum with share price growth – maximum scenario incorporating assumption of 50% share price growth during LTIP vesting period Other than where stated, the charts do not incorporate share price growth or dividend equivalent awards.
£300K
100%
£440K
100%
55% 35% 10%
55% 34% 11%
£805K
£540K
26%
24%
£1,347K
£888K
33% 41%
34% 42%
29% 36% 23% 12%
£1,525K
30% 38%
21% 11%
£995K
Total fixed
Annual bonus
LTIP
Share growth
Picton Property Income Limited Annual Report 2023
111
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