Remuneration report | Contents
Executive KMP remuneration outcomes
STI outcomes STI awards are determined with reference to an assessment of performance against individual KPIs and Group performance measures. The measures in the Group Performance Scorecard focus on elements that drive improvements in earnings and deliver value to stakeholders. In setting targets, the Board considers Transurban’s strategic and operational priorities, the broader economic environment and investor and market expectations.
When the Board and the Remuneration, People and Culture Committee consider the performance against each element, several factors are considered that may result in the exercise of Board discretion for the benefit or detriment of the executives. For example: • prevailing external business and economic factors beyond the control of the business and which may impact performance. • unforeseen factors that may not have been known at the beginning of the performance period, but which are relevant to performance over the performance period.
• whether budgetary assumptions that were made when setting performance targets remain appropriate and whether conditions are potentially better or worse when compared with those assumptions. • the degree of difficulty and complexity associated with achieving the targets, as related to both the internal and external environment. In assessing whether to exercise discretion for any of these factors, the Board will have regard for the interests of all stakeholders including security holders. Transurban’s strategic priorities are cascaded via the CEO’s KPIs to other Executives, along with other functional measures. The Board assessed the Group’s and CEO’s performance as follows (KPIs that are commercially sensitive have been excluded).
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