Barclays 2015 Annual Report Download - page 339

home.barclays/annualreport Barclays PLC Annual Report 2015 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
2015
£m
2014
£m
As at 1 January 11.4 13.4
Loans issued during the year 1.1 1.3
Loan repayments during the year (2.7) (3.3)
As at 31 December 9.8 11.4
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
2015
£m
2014
£m
As at 1 January 103.0 100.2
Deposits received during the year 44.8 25.7
Deposits repaid during the year (31.3) (22.9)
As at 31 December 116.5 103.0
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 as at 31 December 2015 were £0.5m (2014: £1.3m).
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 83 to 116. Costs recognised in the income statement reflect the accounting charge for the year and are 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.
2015
£m
2014
£m
Salaries and other short-term benefits 31.3 28.3
Pension costs 0.3 0.3
Other long-term benefits 4.7 8.1
Share-based payments 11.0 15.0
Employer social security charges on emoluments 5.2 5.8
Costs recognised for accounting purposes 52.5 57.5
Employer social security charges on emoluments (5.2) (5.8)
Other long-term benefits – difference between awards granted and costs recognised 2.5 (4.3)
Share-based payments – difference between awards granted and costs recognised (2.3) (8.4)
Total remuneration awarded 47.5 39.0
Disclosure required by the Companies Act 2006
The following information regarding Directors is presented in accordance with the Companies Act 2006:
2015
£m
2014
£m
Aggregate emolumentsa 7.0 7.8
Amounts paid under LTIPsb 2.2 –
9.2 7.8
There were no pension contributions paid to defined contribution schemes on behalf of Directors (2014: nil). There were no notional pension
contributions to defined contribution schemes.
As at 31 December 2015, there were no Directors accruing benefits under a defined benefit scheme (2014: nil).
Notes
a The aggregate emoluments include amounts paid for the 2015 year. In addition, deferred share awards for 2015 will be made to Antony Jenkins and Tushar Morzaria which will only
vest subject to meeting certain conditions. The total of the deferred share awards is £0.7m (£1.2m for 2014).
b The figure shown for 2015 in ‘Amounts paid under long-term incentive schemes’ is the amount that was released in 2015 in respect of the 2012-2014 Barclays Long Term Incentive
Plan (‘LTIP’) cycle. The LTIP amount in the single total figure table for executive Directors’ 2015 remuneration in the Directors’ Remuneration report relates to the award that is
scheduled to be released in 2016 in respect of the 2013-2015 LTIP cycle.
The Strategic Report Governance Risk review Financial review Financial statements Shareholder information