Barclays 2014 Annual Report Download - page 94

92 I Barclays PLC Annual Report 2014 barclays.com/annualreport
Governance: Remuneration report
Annual report on Directors’ remuneration
Detailed calibration of the Financial and Balanced Scorecard targets is commercially sensitive and it is not appropriate to disclose this information
externally on a prospective basis. Disclosure of achievement against the targets will be made in the 2015 annual report subject to the targets no
longer being sensitive. The Committee may exercise its discretion to amend the formulaic outcome of assessment against the targets. Any
exercise of discretion will be disclosed and explained.
Illustrative scenarios for executive Directors’ remuneration
The charts below show the potential value of the current executive Directors’ 2015 remuneration in three scenarios: ‘Minimum’ (i.e. fixed pay
only), ‘Maximum’ (i.e. fixed pay and the maximum variable pay that may be awarded) and ‘Mid-point’ (i.e. fixed pay and 50% of the maximum
variable pay that may be awarded). For the purposes of these charts, the value of benefits is based on an estimated annual value. The scenarios do
not reflect share price movement between award and vesting. LTIP is included at face value; the amount received and included in the single total
figure for remuneration will depend on performance over the performance period.
A significant proportion of the potential remuneration of the executive Directors is variable and is therefore performance-related and subject to
clawback, deferral and malus.
Minimum Mid-point Maximum
Total remuneration opportunity: Group Chief Executive (£000)
8
6
4
2
0
Total 2,513
Total 4,926
Total 7,339
LTIP
Bonus
Role Based Pay
Pension and benefits
Salary
38%
18%
19%
22%
13%
29%
20%
40%
26%
15%
44%
10% 6%
Total remuneration opportunity: Group Finance Director (£000)
Total 1,845
Total 3,595
Total 5,345
Minimum Mid-point Maximum
8
6
4
2
0
LTIP
Bonus
Role Based Pay
Pension and benefits
Salary
41%
43%
21% 14%
29%
20%
39%
26%
22% 15%
16% 8% 6%
In the above illustrative scenarios, benefits include regular contractual benefits. Additional ad hoc benefits may arise, for example, overseas
relocation of executive Directors, but will always be provided in line with the Directors’ remuneration policy.
Performance graph and table
The performance graph below illustrates the performance of Barclays over the past six financial years from 2009 to 2014 in terms of total
shareholder return compared with that of the companies comprising the FTSE 100 index. The index has been selected because it represents a
cross-section of leading UK companies.
Total shareholder return – rebased to 2008 Year ended 31 December
250
200
150
100
50
FTSE 100 Index
Barclays PLC
2008 2010 2011 20122009 20142013
184
154
183
143
140
127
210
193
183
120
174
180
In addition, the table below provides a summary of the total remuneration of the relevant Group Chief Executive over the same six-year period as
the graph above. For the purpose of calculating the value of the remuneration of the Group Chief Executive, data has been collated on a basis
consistent with the ‘single figure’ methodology.
Year 2009 2010 2011 2012 2012 2013 2014
Group Chief Executive
John
Varley
John
Varley
Bob
Diamond
Bob
Diamonda
Antony
Jenkinsb
Antony
Jenkins
Antony
Jenkins
Group Chief Executive single figure of total remuneration £000s 2,050 4,567 11,070c1,892 529 1,602 5,467
Annual bonus against maximum opportunity % 0% 100% 80% 0% 0% 0% 57%
Long-term incentive vesting against maximum opportunity % 50% 16% N/Ad0% N/AdN/Ad30%
Antony Jenkins’ 2014 pay is higher than in earlier years since he declined a bonus in 2012 and 2013 and did not have LTIP vesting in those years.
Notes
a Bob Diamond left the Board on 3 July 2012.
b Antony Jenkins became Group Chief Executive on 30 August 2012.
c Number in the single figure table above for 2011 is inclusive of £5,745k tax equalisation as set out in the 2011 Remuneration Report. He was tax equalised on tax above the UK
rate where that could not be offset by a double tax treaty.
d Not a participant in a long-term incentive award which vested in the period.