Barclays 2011 Annual Report Download - page 275

46 Related party transactions and Directors’ remuneration continued
Key Management Personnel
The Group’s Key Management Personnel, and persons connected with them, are also considered to be related parties for disclosure purposes. Key
Management Personnel are defined as those persons having authority and responsibility for planning, directing and controlling the activities of Barclays
PLC (directly or indirectly) and comprise the Directors of Barclays PLC and the Officers of the Group (listed on page 279), certain direct reports of the
Chief Executive and the heads of major business units.
There were no material related party transactions with Entities under common directorship where a Director or other member of Key Management
Personnel (or any connected person) is also a Director or other member of Key Management Personnel (or any connected person) of Barclays.
The Group provides banking services to Directors and other Key Management Personnel and persons connected to them. Transactions during the year
and the balances outstanding at 31 December 2011 were as follows:
2011
£m
2010
£m
Loans outstanding at 1 January 4.4 6.6
Loans issued during the year 0.7 0.5
Loan repayments during the year (0.7) (2.1)
Loans outstanding at 31 December 4.4 5.0
No allowances for impairment were recognised in respect of loans to Directors or other members of Key Management Personnel (or any connected
person).
2011
£m
2010
£m
Deposits outstanding at 1 January 35.0 30.3
Deposits received during the year 244.1 104.9
Deposits repaid during the year (240.4) (99.3)
Deposits outstanding at 31 December 38.7 35.9
Interest expense on deposits 0.1 –
Of the loans outstanding above, £nil (2010: £0.5m) relates to Directors and other Key Management Personnel (and persons connected to them), who
left the Group during the year. Of the deposits outstanding above, £1.1m (2010: £0.2m) related to Directors and other Key Management Personnel (and
persons connected to them), who left the Group during the year. The amounts disclosed as at 1 January includes deposits outstanding for those who
became Directors or Key Management Personnel during the year.
All loans to Directors and other Key Management Personnel (and persons connected to them), (a) were made in the ordinary course of business, (b)
were made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable transactions
with other persons and (c) did not involve more than a normal risk of collectability or present other unfavourable features.
Remuneration of Directors and other Key Management Personnel
Total remuneration awarded to Directors and other Key Management Personnel below represents the awards made to individuals that have been
approved by the Board Remuneration Committee as part of the latest payround decisions and is consistent with the approach adopted for disclosures
set out on pages 54 to 65. Costs recognised in the income statement reflect the accounting charge for the year included within operating expenses.
The difference between the values awarded and the recognised income statement charge principally relates to the recognition of deferred costs for
prior year awards. Figures are provided for the period that individuals met the definition of Directors and other Key Management Personnel.
2011
£m
2010
£m
Salaries 20.9 28.1
Employer social security costs 9.1 12.4
Post retirement benefits 0.4 1.0
Share-based payment awards 33.7 39.3
Other long-term benefit awards 39.1 41.9
Costs recognised for accounting purposes 103.2 122.7
Employer social security costs (9.1) (12.4)
Share-based payments – difference between awards granted and costs recognised (17.7) (20.8)
Other long-term benefit – difference between awards granted and costs recognised (14.2) (9.3)
Total remuneration awarded 62.2 80.2
Barclays PLC Annual Report 2011 www.barclays.com/annualreport 273
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