Remuneration Committee report continued
Deferred bonus share awards granted during the financial year - Audited information One-third of the FY24 bonus awarded to both the Former Chief Executive, Andrew Shepherd, and current CEO, Andrea Montague, who performed the role of CFO during FY24, were made in the form of deferred Company nil price share options. These awards vest over three years in three equal tranches at 12, 24 and 36 months from date of award.
Face value £’000 1
Name
Basis of award
Date of award
No. of shares
Vesting date
Andrew Shepherd Andrea Montague
1/3 of annual bonus 1/3 of annual bonus
30 Sep 2024 30 Sep 2024
7,863 7,402
148 30 Sept 2025/2026/2027 139 30 Sept 2025/2026/2027
1 Based on a Brooks Macdonald Group share price of £18.835, being the average mid-market price over the five-day period prior to 30 September 2024. LTIP awards granted during the financial year - Audited information The performance share award, made in the form of Group nil price share options, to the CEO and CFO is detailed below.
Face value of awards £’000 1
Performance period end date
End of holding period
Name
Basis of award
Date of award
No. of shares
Vesting date
Andrea Montague Katherine Jones
200% of salary 200% of salary
21-Oct-24 27-Feb-25
52,303 52,540
920 750
30-Jun-27 30-Jun-27
21-Oct-27 21-Oct-27
21-Oct-29 21-Oct-29
1 The CEO award, granted on 21 October 2024, was based on a share price of £17.59, being the average mid-market share price over the five-day period prior to 21 October 2024. The CFO award, granted on 27 February 2025, was based on a share price of £14.275, being the average mid-market share price over the five-day period prior to 27 February 2025.
The performance measures for these LTIP awards were developed by the Committee in consultation with our largest shareholders. Organic growth in FUM (“FUM Growth”) , with a 35% overall weighting, was added to the two existing performance measures of underlying diluted EPS, re-weighted from 90% to 50% of overall weighting, and the ESG measures
basket , reweighted from 10% to 15% of overall weighting. The underlying diluted EPS and FUM Growth target ranges considered the expectations within the Company’s medium-term financial plan at the time of setting and the challenges in forecasting.
The ESG measures focus on the delivery of the Group’s carbon footprint reduction ambitions as stated within its 2030 Net Zero plan, measured independently by the LGEnergy Group, the outcomes of customers measured by their feedback and employee engagement levels measured using the results of the annual employee ‘Speak-up’ survey.
The table below sets out the LTIP measures and target ranges, reflecting that the FUM Growth target range, and also the underlying diluted EPS target value, are both currently commercially sensitive, and we will keep the disclosure of these values under review:
Threshold (25% of maximum)
Target (50% of Maximum) Not currently disclosed Not currently disclosed
Maximum (100% of maximum)
Performance measure
Weighting
Absolute underlying diluted EPS (pence)
50% 35% 15%
116
155
FUM Growth (£ million)
Not currently disclosed
Not currently disclosed
ESG outcomes
Partially Satisfied
Mostly Satisfied
Fully Satisfied
The awards will only vest and become exercisable to the extent that above threshold performance is delivered over the three- year performance period from FY25 to FY27, inclusive. Following vesting, any resulting share
options are subject to a further two year holding period. Malus and clawback provisions also apply to the awards.
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Brooks Macdonald Group plc Annual Report and Accounts 2025
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