Barclays 2014 Annual Report Download - page 339

barclays.com/annualreport Barclays PLC Annual Report 2014 I 337
41 Related party transactions and Directors’ remuneration continued
The Group provides banking services to Directors and other Key Management Personnel and persons connected to them. Transactions during the
year and the balances outstanding were as follows:
Loans outstanding
2014
£m
2013
£m
As at 1 January 13.4 5.9
Loans issued during the year 1.3 14.0
Loan repayments during the year (3.3) (6.5)
As at 31 December 11.4 13.4
No allowances for impairment were recognised in respect of loans to Directors or other members of Key Management Personnel (or any
connected person).
Deposits outstanding
2014
£m
2013
£m
As at 1 January 100.2 37.3
Deposits received during the year 25.7 156.4
Deposits repaid during the year (22.9) (93.5)
As at 31 December 103.0 100.2
Total commitments outstanding
Total commitments outstanding refers to the total of any undrawn amounts on credit cards and/or overdraft facilities provided to Key
Management Personnel. Total commitments outstanding were £1.3m (2013: £2.6m).
All loans to Directors and other Key Management Personnel (and persons connected to them), (a) were made in the ordinary course of business,
(b) were made on substantially the same terms, including interest rates and collateral, as those prevailing at the same time for comparable
transactions with other persons and (c) did not involve more than a normal risk of collectability or present other unfavourable features.
Remuneration of Directors and other Key Management Personnel
Total remuneration awarded to Directors and other Key Management Personnel below represents the awards made to individuals that have been
approved by the Board Remuneration Committee as part of the latest remuneration decisions and is consistent with the approach adopted for
disclosures set out on pages 77 to 110. Costs recognised in the income statement reflect the accounting charge for the year included within
operating expenses. The difference between the values awarded and the recognised income statement charge principally relates to the recognition
of deferred costs for prior year awards. Figures are provided for the period that individuals met the definition of Directors and other Key
Management Personnel.
2014
£m
2013
£m
Salaries and other short-term benefits 28.3 22.3
Pension costs 0.3 0.6
Other long-term benefits 8.1 11.5
Share-based payments 15.0 29.7
Employer social security charges on emoluments 5.8 6.5
Costs recognised for accounting purposes 57.5 70.6
Employer social security charges on emoluments (5.8) (6.5)
Other long-term benefits – difference between awards granted and costs recognised (4.3) (3.9)
Share-based payments – difference between awards granted and costs recognised (8.4) (18.3)
Total remuneration awarded 39.0 41.9
b) Disclosure required by the Companies Act 2006
The following information regarding Directors is presented in accordance with the Companies Act 2006:
2014
£m
2013
£m
Aggregate emolumentsa 7.8 5.3
Gains on exercise of share options – 1.7
Amounts paid under LTIPsb – 0.7
7.8 7.7
There were no pension contributions paid to defined contribution schemes on behalf of Directors (2013: £nil). There were no notional pension
contributions to defined contribution schemes.
As at 31 December 2014, there were no Directors accruing benefits under a defined benefit scheme (2013: nil).
Notes
a The aggregate emoluments include amounts paid for the 2014 year. In addition, a deferred share award has been made to each of the executive Directors which will only vest
subject to meeting service conditions. The total of the deferred share awards is £1.2m (2013: £0.7m).
b Amounts delivered under long-term incentive schemes are included in the Directors’ remuneration table above in the years in which the performance and service conditions are
met and the awards are released to participants. The LTIP amounts shown in the executive Directors’ single total figure for 2014 remuneration table of the Directors’
Remuneration Report are in respect of LTIP awards that are scheduled to be released in 2015 in relation to LTIP awards granted in 2012 (for the 2012-14 performance cycle).
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