Remuneration Committee report continued
Employee Save As You Earn (“SAYE”) scheme - Audited information All Directors are entitled to take part in the HMRC-approved Brooks Macdonald Group SAYE Scheme on the same terms as all other employees.
A Montague Grant date
Exercise price (p)
Options at 1 July 2024
Granted during year
Exercised during year
Forfeited during year
Options at 30 June 2025 Vesting date
Expiry date
1,156.00
– –
1,591 1,591
– –
– –
1,591 1,591
01/06/2028
01/12/2028
13/05/2025
Total
K Jones Grant date
Exercise price (p)
Options at 1 July 2024
Granted during year
Exercised during year
Forfeited during year
Options at 30 June 2025 Vesting date
Expiry date
13/05/2025
1,156.00
– –
1,591 1,591
– –
– –
1,591 1,591
01/06/2028
01/12/2028
Total
A Shepherd Grant date
Exercise price (p)
Options at 1 July 2024
Granted during year
Exercised during year
Forfeited during year
Options at 30 June 2025 Vesting date 1
Expiry date 1
12/05/2023
1,434.00
1,255 1,255
– –
– –
349 349
906 906
30/06/2025
31/12/2025
Total
1 The vesting and expiry dates shown have been updated to reflect the treatment for good leavers within the SAYE plan rules.
Payments to former Directors The payments made to the former Chief Executive, Andrew Shepherd, in the FY25 reporting period were described in the 2024 Annual Remuneration Report are confirmed in the FY25 Single Figure Table, with salary, benefits and pension amounts showing for the period up to 30 September 2024 when Andrew stood down as a Director. The FY25 Single Figure Table also confirms the value of his 2022 LTIP award vesting, which was subject to a service-based pro-rata, and that he did not receive a bonus in respect of FY25. From 1 October 2024 until Andrew’s retirement date at 30 June 2025, he continued to receive his contractual base salary at the unchanged rate of £432,640 per annum (£324,480 in total), as well as his contractual benefits, including a 6% employer pension benefit and a private medical insurance benefit (£1,648). No other ex-gratia payments were made to him.
Payments for loss of office The only payments for loss of office relate to the 2022 LTIP outturn for the former Directors, Andrew Shepherd and Lynsey Cross, who received the following share options. The reduction from the number of shares originally granted reflects both the application of the performance conditions and service-based pro-ration.
Andrew was treated as a good leaver with respect to his unvested share awards, with his 2022 and 2023 LTIP awards being pro-rated for service and deferred bonus share awards vesting in full. These awards will vest at the normal dates with LTIP vesting subject to performance against targets. LTIP awards will continue to be subject to the post vesting two year holding period. The vesting value of the 2023 LTIP award will be included in our FY26 Remuneration Report. Malus and clawback provisions will continue to apply. Former Director Lynsey Cross retained a service-based, pro-rata eligibility for her 2022 LTIP award. The vesting outturn of this award was approved at 10% of maximum opportunity, realising 369 of the originally granted 15,758 shares, equivalent to a value of £5,679 using the average share price for the final three months of the FY25 reporting period.
2022 LTIP outcome
Executive
Shares granted Shares vesting
Andrew Shepherd
43,413 15,758
3,914
Lynsey Cross
369
90
Brooks Macdonald Group plc Annual Report and Accounts 2025
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