Barclays 2015 Annual Report Download - page 103

home.barclays/annualreport Barclays PLC Annual Report 2015 I 101
Payments to former Directors
Former Group Chief Executive: Antony Jenkins
Antony Jenkins ceased to be Group Chief Executive on 16 July 2015. In accordance with his contractual entitlements, Antony Jenkins will receive base
salary, RBP, benefits and pension until 7 July 2016 (the Termination Date). These payments are being made in instalments and are subject to
mitigation in the event that Antony Jenkins brings his termination date forward.
The Committee carefully considered the circumstances of Antony Jenkins’ departure, taking into account his contribution in bringing the Group to a
much stronger position during a difficult period for the Group. Against that background, the Committee agreed to exercise its discretion to treat
Antony Jenkins as an eligible leaver for the purposes of his variable pay in accordance with the Directors’ remuneration policy approved by
shareholders at the 2014 AGM. The Committee agreed that:
 Antony Jenkins would remain eligible for an annual bonus in respect of 2015, pro-rated to 16 July 2015
 Antony Jenkins’ 260,355 deferred shares will be considered for release in full on the scheduled release dates. After release, the shares will be
subject to an additional 6 month holding period
 the unvested LTIP awards granted to Antony Jenkins in 2014 and 2015 will be considered for release on the scheduled release dates subject to
achievement of the applicable performance measures and time pro-rated to the Termination Date. The maximum number of shares (subject to
the achievement of the applicable performance measures) after reduction for time pro-rating are LTIP 2014-2016: 1,418,805 shares and LTIP
2015-2017: 475,937 shares. After vesting, the shares will be subject to an additional two year holding period
 all outstanding unvested deferred awards are subject to malus provisions.
The Company has paid £106k in respect of outplacement services and legal costs in connection with Antony Jenkins’ termination of employment in
line with the approved Directors’ remuneration policy on terminations.
Former Group Finance Director: Chris Lucas
In 2015, Chris Lucas continued to be eligible to receive life assurance cover, private medical cover and payments under the Executive Income
Protection Plan (EIPP). Full details of his eligibility under the EIPP were disclosed in the 2013 Directors’ Remuneration report (page 115 of the 2013
Annual Report). Chris Lucas did not receive any other payment or benefit in 2015.
Other policy information
Outside appointments
During the period while he was Executive Chairman, John McFarlane retained fees in respect of external directorships at Westfield Corporation
Limited of $62k and at Old Oak Holdings Limited of £37k.
Directors’ shareholdings and share interests
Executive Directors’ shareholdings and share interests
The chart below shows the value of Barclays’ shares held beneficially by Jes Staley and Tushar Morzaria as at 26 February 2016 that count towards
the shareholding requirement of, as a minimum, Barclays’ shares worth four times salary. The current executive Directors have five years from their
respective date of appointment to meet this requirement. At close of business on 26 February 2016, the market value of Barclays ordinary shares
was £1.6910.
£4,800
£4,757
Requirement
Actual
J
es Staley (£000)
£3,200
£1,575
Requirement
Actual
(£000)
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