Strategic Report
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Financial Statements
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Approach to remuneration for new Executive Director appointments The remuneration arrangements for a new Executive Director are set in line with the Policy applicable at the time of appointment. The Committee is mindful that the Company should avoid paying more than is necessary to recruit the desired candidate. Set out below is the Group’s Policy on the remuneration of Executive Director appointments.
External appointment to the Board Salary
Base salary would be set at an appropriate level considering the factors mentioned in the Policy table above.
Relocation
If an Executive Director needs to re-locate in order to take up the role, the Group would pay to cover the costs of relocation including (but not limited to), actual relocation costs, accommodation for an appropriate period as determined by the Committee and travel expenses. For external appointments, the Committee may (if it is considered appropriate) provide a buy-out award which is in the Committee’s determination as far a possible equivalent to the value of any outstanding incentive awards (or other benefits as applicable) that will be forfeited on cessation of a director’s previous employment. To the extent possible, the buyout award of any incentive forfeited will be made on a broadly like for like basis. The award will take into account the performance conditions attached to the vesting of the forfeited incentives, the timing of vesting, the likelihood of vesting and the nature of the awards (cash or equity). Any such buyout award may be granted under the LTIP or the provision available under UKLA Listing Rule 9.4.2. to enable awards to be made outside the LTIP in exceptional circumstances. All buy-out awards would be structured in order to comply with relevant regulatory requirements. Joiners may receive a pro-rated Annual Bonus based on their employment as a proportion of the financial year and targets may be different to those set for another Executive.
Buy-out awards
Annual Bonus
LTIP
Grants will be set in line with the Policy in the year of joining.
Other elements
Benefits and pension will be set in line with Policy.
Internal appointment to the Board Summary
When existing employees are promoted to the Board, the above policy will apply, from the point where they are appointed to the Board and not retrospectively. In addition, any existing awards will be honoured and form part of ongoing remuneration arrangements.
Non-Executive Directors Summary
Fees will be in line with the Policy and the fees provided for the other Non-Executive Directors.
Brooks Macdonald Group plc Annual Report and Accounts 2025
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