Carphone Warehouse 2016 Annual Report Download - page 76

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Dixons Carphone plc Annual Report and Accounts 2015/16
Corporate Governance
Annual Remuneration Report
74
Audited information
Single figure of directors’ remuneration for the year ended 30 April 2016
2015
/
16
Basic
salary and
fees
£’000
Pension
contributions(3)
£’000
Annual
bonus
£’000
Taxable
benefits(4)
’000
Total
emoluments
£’000
LTIP
payments(6)
£’000
Total
remuneration
£’000
Executive
Current directors
Sebastian James 820 82 701 13 1,616 — 1,616
A
ndrew Harrison 550 28 470 11 1,059 — 1,059
Humphrey Singer 475 48 406 13 942 — 942
Katie Bickerstaffe(2) 490 50 428 11 979 — 979
Graham Stapleton(5) 460 23 393 892 1,768 — 1,768
2,795 231 2,398 940 6,364 — 6,364
Non-executive
Current directors
Sir Charles Dunstone 280 — — — 280 — 280
Tony DeNunzio(1) 34 — — — 34 — 34
A
ndrea Gisle Joosen 70 — — — 70 — 70
Tim How 65 — — — 65 — 65
Jock Lennox 75 — — — 75 — 75
Lord Livingston of Parkhead(1) 54 — — — 54 — 54
Baroness Morgan of Huyton 65 — — — 65 — 65
Gerry Murphy 65 — — — 65 — 65
F
ormer directors
John Gildersleeve(1) 53 — — — 53 — 53
Roger Taylor(1) (7) 97 — — 1 98 — 98
858 — — 1 859 — 859
3,653 231 2,398 941 7,223 — 7,223
(1) Remuneration is shown for the period served on the Board. Tony DeNunzio and Lord Livingston were appointed to the Board on
16 December 2015 and the fees shown were from appointment to 30 April 2016. John Gildersleeve and Roger Taylor resigned from the
Board on 16 December 2015 and fees are from 3 May 2015 to date of leaving.
(2) Katie Bickerstaffe purchased annual leave under the Group’s holiday purchase scheme, reducing her salary by £10,000 in 2015/16.
(3) Pension contributions comprise the Company’s contribution or allowance in lieu together with the salary supplement which is based on the
difference between basic salary and the scheme earnings cap set by the Company. The contribution amount was 10% of salary for
Sebastian James, Humphrey Singer and Katie Bickerstaffe and 5% for Andrew Harrison and Graham Stapleton.
(4) Taxable benefits include private medical insurance and car allowances.
(5) The taxable benefits of Graham Stapleton includes the waiver of a loan, together with accrued interest, of £880,268 relating to a long term
incentive scheme of Carphone Warehouse that he took part in prior to him becoming a director of the Company. The scheme vested
following the sale of the Best Buy Europe business and awards became exercisable during 2013, but all shares awarded were subject to a
sales restriction until 2015. At the time of exercise Graham Stapleton, along with the other participants, was provided with a company loan
to be used to settle the outstanding tax liabilities that were created at the point of exercise. During 2015, the sales restrictions elapsed and
at that time the Company confirmed the writing off of the outstanding loan. This decision reflected the treatment afforded to other
participants of this plan and the past practice used by Carphone Warehouse. This is a legacy, pre-Merger obligation made before Graham
Stapleton was appointed to the Board.
(6) LTIP payments would comprise amounts under the Share Plan, however, the performance period ends in July 2017.
(7) Roger Taylor continued to receive private medical insurance benefits until 16 December 2015 when he stepped down from the Board.
(8) No payments were made to former directors and no payment for loss of office was made during the year.
(9) Lord Livingston has a deferred pension in the Dixons Retirement and Employee Security Scheme.
00_DC 2016 Annual Report.pdf 74 11/07/2016 18:34