Carphone Warehouse 2016 Annual Report Download - page 64

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Dixons Carphone plc Annual Report and Accounts 2015/16
Corporate Governance
Remuneration Policy
62
A
ll employee share plans
•Purpose and link to strategy Encourages employees to make a long-term investment in the Company’s shares and
therefore be aligned to the long-term success of the Company.
•Operation Executive directors are eligible to participate in any all employee share plans operated
by the Company which have been approved by shareholders on the same terms as
other eligible employees.
Currently share options are granted under the Dixons Carphone HMRC approved SAYE
scheme, subject to three- or five-year vesting periods.
•Maximum opportunity Participants can save up to £500 per month for either three or five years, and in return
receive a share option granted at up to 20% discount to the market price at the time of
the invitation.
The Committee reserves the right to increase this savings limit for future schemes in
accordance with the statutory limits in place from time to time.
•Performance assessment
/
targets The SAYE scheme is not subject to any performance conditions.
Share ownership guidelines
•Purpose and link to strategy Provides close alignment between the longe
r
-term interests of executive directors
and shareholders in terms of the Company’s long-term success.
•Operation The Company requires executive directors to retain a certain percentage of base
salary in the Company’s shares. Executive directors have a five-year period to reach
these limits.
The shares which count towards this requirement are beneficially-owned shares (both
directly and indirectly).
•Maximum opportunity Not applicable.
•Pe
r
formance assessment
/
targets The Company requires all executive directors to retain 200% of base salary in the
Company’s shares.
Details of the directors’ shareholdings are shown in the table on page 80.
00_DC 2016 Annual Report.pdf 62 11/07/2016 18:34