Barclays 2013 Annual Report Download - page 123

Remuneration Committee activities in 2013
The following provides a summary of the Committee’s activities during 2013 and during the February 2014 meeting when 2013 remuneration
decisions were finalised.
Meeting Fixed pay issues Variable pay issues Governance, risk and other matters
January 2013  Approved executive Directors’ and
senior executive 2013 salary
 Final 2012 incentive funding
 Approved proposals for executive
Director and senior executive 2012
bonuses and 2013 LTIP awards
 Risk adjustment and malus review
 Review reward communications
strategy
 Barclays Transform project and
remuneration
 Finance and Risk update
February 2013  Executive Director retirement
arrangements
 2013 LTIP
 Long-term compensation
projections
 Risk adjustment and malus review
 Approved 2012 remuneration report
 Transform project – reward update
April 2013  Consider and approve remuneration
arrangements in respect of Group
Executive Committee changes
May 2013  Initial consideration of possible
approaches to CRD IV compliance
 Remuneration trend analysis
 Review of incentives
 CRD IV regulation
 Control framework for hiring, exit
and retention of employees
July 2013  Approaches to CRD IV compliance  2013 incentive projections
 Barclays’ balanced scorecard
 Group Executive Committee
remuneration
 Barclays LTIP review
 Review of regulation and formulaic
incentives
 Review of Committee effectiveness
and terms of reference
 Review Committee adviser
independence
 CRD IV regulation
 Control framework for hiring, exit
and retention of employees
 Finance and Risk update
September 2013  Approach to CRD IV involving new
fixed pay ‘Role Based Pay’
 Incentive funding and total
compensation expenditure
 Malus review
 CRD IV regulation
October 2013  Update on pension
 CRD IV update
 2013 incentive funding projections  Annual review of appointment
of external Committee adviser
 Risk adjustment and malus review
 Control framework for hiring, exit
and retention of employees
 Finance and Risk update
December 2013  CRD IV update on implementation
of Role Based Pay
 Initial considerations of executive
Directors’ and senior executive
2014 fixed pay
 2013 incentive funding proposals
and initial senior executive
individual proposals
 2014 LTIP design and
performance measures
 Risk adjustment and malus review
 Review draft forward looking
Directors’ remuneration policy
and 2013 remuneration report
 Review implementation of Salz
review remuneration
recommendations
 Control framework for hiring, exit
and retention of employees
 Finance and Risk update
February 2014  Approved executive Directors’ and
senior executive 2014 fixed pay
 Final 2013 incentive funding
 Approved proposals for executive
Director and senior executive
2013 bonuses and 2014 LTIP awards
 Risk adjustment and malus review
 Approved 2013 remuneration report
 Review reward communications
strategy
 Finance and Risk update
Regular items: market and stakeholder updates including PRA/FCA, US Federal Reserve and other regulatory matters; LTIP performance updates;
hiring and leaver updates.
Statement of voting at Annual General Meeting
At the last Annual General Meeting the voting results on the remuneration resolution ‘To approve the Directors’ Remuneration Report for the year
ended 31st December 2012’ were as follows:
(i) the total number of votes cast in relation to the resolution was 8,220,989,069 ‘for’ and 456,324,669 ‘against’;
(ii) the percentage ‘for’ was 94.74% and the percentage ‘against’ was 5.26%; and
(iii) the number of abstentions was 114,117,315.
The disclosure in the 2014 remuneration report will include details of the binding shareholder vote on Directors’ remuneration policy.
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