National Grid 2014 Annual Report Download - page 74
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Remuneration
Report
continued
Performance graph and table
This chart shows National Grid plc’s five year annual
totalshareholder return (TSR) performance against the
FTSE 100 index, of which National Grid is a constituent.
Itassumes dividends are reinvested. The TSR level
shown at 31 March each year is the average of the
closing daily TSR levels for the 30 day period up to
andincluding that date.
Total shareholder return
CEO’s pay in the last five financial years
Steve Holliday was the CEO throughout this five year period.
2009/10 2010/11 2011/12 2012/13 2013/14
Total single figure £’000 3,931 3,738 3,539 3,170 4,801
APP (proportion of maximum awarded) 95.33% 81.33% 68.67% 56.65% 7 7.9 4%
PSP (proportion of maximum vesting) 100.00% 65.15% 49.50% 25.15% 76.20%
Percentage change in CEO’s remuneration
The table below shows how the percentage change in the CEO’s salary, benefits and APP between 2013/14 and 2012/13 compares with
the percentage change in the average of each of those components of remuneration for non-union employees in the UK. The Committee
views this group as the most appropriate comparator group, as the CEO is UK-based and this group excludes employees represented
by trade unions, whose pay and benefits are negotiated with each individual union.
Salary Taxable benefits APP
£’000 £’000 Increase £’000 £’000 Increase £’000 £’000 Increase
2013/14 2012/13 2013/14 2012/13 2013/14 2012/13
Steve Holliday 1,000 996 0.4% 35 31 12.9% 1,169 846 38.2%
UK non-union employees
(increase per employee) 2.9% 0.7% 10.6%
Statement of implementation of remuneration policy in 2014/15
The remuneration policy will be implemented with effect from the 2014 AGM as follows:
Salary ’000
From
1 June 2014
From
1 June 2013 Increase
Andrew Bonfield £729.8 £712 2.5%
Steve Holliday £1,025 £1,000 2.5%
Tom King $1,186.9 5 $1,15 8 2.5%
John Pettigrew £475 £475 0%
APP measures for 2014/15
Weighting
Adjusted EPS 35%
Group or UK or US RoE 35%
Individual objectives 30%
The APP targets are considered commercially sensitive and consequently will be disclosed after the end of the financial year in the
2014/15 annual report on remuneration.
31/03/09 31/03/10 31/03/11 31/03/12 31/03/13 31/03/14
0
100
50
250
200
150 155.42
173.94
131.11
167.17
123.65
155.79
100.00
190.98
197.9 4 223.74
211.45
National Grid plc FTSE 100 Source: Thomson Reuters
72 National Grid Annual Report and Accounts 2013/14