DIRECTORS’ REMUNERATION REPORT CONTINUED
Remuneration Policy table
Element, purpose and link to strategy
Element, purpose and link to strategy Annual bonus To reward the achievement of annual financial and strategic business targets.
Operation
Maximum opportunity
Performance targets
Operation
Maximum opportunity
Performance targets
Base salary To recognise
Salaries are normally reviewed annually with increases typically effective from 1 April. In determining Executive Directors’ salaries, the Remuneration Committee takes into account: ■ Each Director’s role, competence, experience and performance; ■ Average change in broader workforce pay; and ■ Total organisational salary budgets. Salaries are also benchmarked against companies of a comparable size and complexity and against companies which operate internationally, in similar sectors. Directors, along with other senior UK executives, may receive certain benefits such as a car allowance, life assurance and critical illness cover, and family medical insurance. Any reasonable business-related expense (and any tax thereon) can be reimbursed if determined to be a taxable benefit. Executive Directors will be eligible to participate in any all-employee share plan operated by the Company, on the same terms as
There is no prescribed maximum or maximum increase. However, any percentage increases will ordinarily be in line with those across the wider workforce. Salary increases may be
Although there are no formal performance conditions, any increase in base salary is only implemented after careful consideration of individual contribution and performance and having due regard to the factors set out in the “Operation” column of this table.
Bonus is based on performance targets determined and reviewed by the Committee which are selected to be relevant for the year in question. Any payment is discretionary and the bonus payable is determined
The maximum bonus opportunity is 150% of
The Committee sets performance measures and targets that are appropriately stretching each year, taking into account key strategic and financial priorities and ensuring there is an appropriate balance between incentivising Executive Directors to meet targets, while ensuring they do not drive unacceptable levels of risk or inappropriate behaviours. Financial measures may include (but are not limited to) adjusted operating profit, working capital and cash flow. Non-financial measures may include strategic measures directly linked to the Company’s priorities. A graduated scale of targets is normally set for each measure, with no payout for performance below a threshold level of performance. The Committee has discretion to amend the pay-out should any formulaic outcome not reflect the Committee’s assessment of overall business or individual performance.
salary for the Group Chief Executive and 125% of salary for other Executive Directors. The maximum bonus is payable for significant over- achievement of financial and non-financial bonus objectives.
knowledge, skills and experience, as well as reflect the scope and size of the role and to attract and retain quality staff.
by the Committee after the financial year end, based on
higher in exceptional circumstances, such as
performance against these targets. Financial objectives are updated to reflect acquisitions, disposals and currency movements during the year. One third of any bonus earned will be deferred into share awards which vest after three years. For Executive Directors that have met their shareholding guideline, deferral reduces to 20% of any bonus earned. Dividends may accrue on deferred bonus shares. Malus and clawback provisions apply to cash and deferred elements of the bonus.
Typically, no more than 50% of the maximum
the need to retain a critical executive, or an increase in the scope of the executive’s role (including promotion to a more senior role) and/or in the size of the Group.
bonus opportunity will be payable for achieving target performance.
Benefits To help retain executives and remain competitive in the marketplace.
There is no prescribed maximum as insurance cover can vary based on market rates. The maximum level of participation in all-employee share plans is subject to the limits imposed by the relevant tax authority from time to time.
Not applicable
other eligible employees. For external and internal
appointments or relocations, the Company may pay certain relocation and/or incidental expenses and provide tax equalisation, as appropriate. The Company operates a defined contribution pension scheme. Executive Directors may receive a contribution to the pension scheme or take a cash allowance in lieu of pension contributions.
Pension To facilitate long-term savings provisions.
The maximum contribution rate for current and future Executive Directors will be the workforce contribution rate in the home country, which is currently 8% of salary in the UK.
Not applicable
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discoverIE Group plc Innovative Electronics
Annual Report and Accounts for the year ended 31 March 2026
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