ICICI Bank 2014 Annual Report Download - page 26

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24
ThedetailsofsharesandconvertibleinstrumentsoftheBank,heldbythenon-executiveDirectorsason
March31,2014aresetoutinthefollowingtable:
Name of Director Instrument No. of shares held
K.V. Kamath Equity 540,000
DileepChoksi Equity 500
HomiKhusrokhan Equity 7001
ArvindKumar — —
M.S.Ramachandran Equity 200
TushaarShah — —
V. K.Sharma — —
V. Sridar — —
1. 700sharesheldjointlywithrelatives.
RBI vide itsCircularDBODNo.BC.72/29.67.001/2011-12datedJanuary13,2012hasissuedguidelines
on“CompensationofWholetimeDirectors/ChiefExecutiveOfficers/RisktakersandControlfunctionstaff
etc.”forimplementationbyprivatesectorbanksandforeignbanksfromthefinancialyear2012-13.In
termsoftherequirementofthesaidcirculartheBankadoptedaCompensationPolicyasrequiredbyRBI
inJanuary2012.ThesaidcircularalsorequirestheBanktomakefollowingdisclosuresonremuneration
onanannualbasisintheirAnnualReport:
COMPENSATION POLICY AND PRACTICES
(A) Qualitative disclosures
a) Information relating to the composition and mandate of the Remuneration Committee
TheBoardGovernance,Remuneration&NominationCommittee(BGRNC)atMarch31,2014comprised
threeindependentDirectors.ThefunctionsoftheCommitteeincluderecommendationofappointments
ofDirectorstotheBoard,evaluationoftheperformanceoftheWholeTimeDirectors(WTDs)(including
the Managing Director & CEO) on predetermined parameters, recommendation to the Board of the
remuneration (including performance bonus and perquisites) to WTDs, approval of the policy for and
quantumofbonuspayabletothemembersofthestaff,framingofguidelinesfortheEmployeesStock
Option Scheme (ESOS) and recommendation of grant of the Bank’s stock options to employees and
WTDsoftheBankanditssubsidiarycompanies.
b) Information relating to design and structure of remuneration processes and the key features and
objectives of remuneration policy
The Bank has under the guidance of the Board and the BGRNC, followed compensation practices
intendedtodrivemeritocracywithintheframeworkofprudentriskmanagement.Thisapproachhasbeen
incorporatedintheCompensationPolicyapprovedbytheBoardonJanuary31,2012,pursuanttothe
guidelinesissuedbyRBI.
ThekeyelementsoftheBank’scompensationpracticesare:
• Effectivegovernanceofcompensation:TheBGRNChasoversightovercompensation.TheCommittee
definesKeyPerformanceIndicators(KPIs)forWTDsandequivalentpositionsandtheorganisational
performance norms for bonus based on the financial and strategic plan approved by the Board.
Directors’Report