Experian 2016 Annual Report Download - page 103
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Element and link
to strategy
Operation Maximum potential
value and payment at target
Performance metrics,
weightings, relevant time
period and clawback
CIP
Use of stretching
financial metrics
incentivises
performance.
Aligns with
shareholder
interests through
personal
investment
and delivery of
shares.
Encourages
participants’
long-term
commitment
to the Group
through personal
investment.
Participants are invited to invest between
50% and 100% of their annual bonus in
Experian shares.
A conditional award of matching shares
is granted on a two-for-one basis, and will
vest subject to achieving performance
targets tested over a three-year period.
Dividend equivalents accrue on conditional
awards of shares.
Minimum vesting of matching
shares is zero.
Nothing vests for below-target
performance.
For target performance, matching
shares vest on a one-for-one basis.
For maximum performance,
matching shares vest on a
two-for-one basis.
Vesting of awards is based
on financial performance,
subject to the Committee
being satisfied that the
vesting is not based on
materially misstated
financial results.
The Committee will exercise
its judgment on whether to
vary the level of vesting, if
it considers that the level
of vesting determined by
measuring performance
is inconsistent with the
Group’s actual underlying
financial and operational
performance.
Clawback provisions apply.
PSP
Use of stretching
financial metrics
incentivises
performance.
Aligns with
shareholder
interests through
delivery of
shares.
Annual award of conditional shares which
vest subject to achieving performance
targets tested over a three-year period.
Dividend equivalents accrue on conditional
awards of shares.
Normal maximum award levels
are 200% of salary. Awards of up
to 400% of salary may be made in
exceptional circumstances such as
on recruitment.
Minimum vesting of awards is zero.
Nothing vests for below-target
performance.
For target performance, 25% of
the shares vest.
For maximum performance,
100% of the shares vest.
Vesting of up to 25% of
the awards is based on a
share-based metric, with
the balance based on
financial performance.
Awards are also subject to
a financial underpin and a
clawback feature whereby
vesting is subject to the
Committee being satisfied
that it is not based on
materially misstated
financial results.
The Committee will
exercise its judgment
on whether to vary the
level of vesting, if it
considers that the level
of vesting determined by
measuring performance
is inconsistent with the
Group’s actual underlying
financial and operational
performance.
Clawback provisions apply.
101Governance •Report on directors’ remuneration