Barclays 2015 Annual Report Download - page 106

104 I Barclays PLC Annual Report 2015 home.barclays/annualreport
Governance: Remuneration report
Annual report on Directors’ remuneration
Remuneration Committee activities in 2015
The following provides a summary of the Committee’s activities during 2015 and at the January and February 2016 meetings when 2015
remuneration decisions were finalised.
Meeting Fixed and variable pay issues Governance, risk and other matters
February 2015  Approved executive Directors’ and senior executives’ 2015
fixed pay
 Approved 2015 executive Directors’ annual bonus
performance measures
 Approved group salary and RBP budgets for 2015
 Approved final 2014 incentive funding
 Approved proposals for executive Directors’ and senior
executives’ 2014 bonuses and 2015 LTIP awards for
executive Directors
 Risk adjustment and malus review
 Approved 2014 Remuneration report
 Review of 2014 reward communications strategy
 Finance and Risk updates
May 2015  2015 early incentive funding projections  Consideration of the outcomes of the 2014 Board Committees’
effectiveness review
 Update on EBA consultation on draft revised remuneration
guidelines
 Employee compensation adjustment review
 Barclays’ remuneration approach review
July 2015  Review of Committee activity and Terms of Reference
 Consideration of process for appointment of Committee’s
independent adviser from April 2016
 Update on July 2014 PRA consultation and resulting changes
to the Remuneration part of the PRA Rulebook
 Scope of remuneration philosophy review
 Employee compensation adjustment review
October 2015
(Two meetings)
 Approved Jes Staley’s remuneration arrangements  Remuneration philosophy review
November 2015  2015 incentive funding projections
 2016 LTIP performance measures
 Finance and Risk updates including ex ante risk adjustment
 Updates on headcount and attrition
 2015 payround shareholder engagement planning
 Employee compensation adjustment review
December 2015  Initial considerations on senior executives’ 2016 fixed pay
 2015 incentive funding proposals and initial proposals for
senior executives’ 2015 bonuses
 Review of draft 2015 Remuneration report
 Finance and Risk updates including ex ante risk adjustment
 Updates on headcount and attrition
January 2016  2015 incentive funding proposals  Finance and Risk updates
February 2016
(Two meetings)
 Approved executive Directors’ and senior executives’ 2016
fixed pay
 Approved 2016 executive Directors’ annual bonus
performance measures
 Approved Group fixed pay budgets for 2016
 Approved final 2015 incentive funding
 Approved proposals for executive Directors’ and senior
executives’ 2015 bonuses and 2016 LTIP awards for
executive Directors
 Approved 2015 Remuneration report
 Finance and Risk updates including ex ante risk adjustment
 Appointment of Committee independent adviser
 Updates on headcount and attrition
Regular items: market and stakeholder updates including PRA/FCA, US Federal Reserve and other regulatory matters; updates from Remuneration
Review Panel meetings; operation of the Committee’s Control Framework on hiring, retention and termination; and LTIP performance updates.
Statement of voting at Annual General Meeting
The table below shows the voting result in respect of our remuneration arrangements at the AGM held on 23 April 2015 and the last policy vote at
the AGM held on 24 April 2014:
For
% of
votes cast
Number
Against
% of
votes cast
Number
Withheld
Number
Advisory vote on the 2014 Remuneration report 97.50%
11,385,216,004
2.50%
291,926,107 63,613,057
Binding vote on the Directors’ remuneration policy 93.21%
9,936,116,114
6.79%
723,914,712 154,598,278