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Governance Marks and Spencer Group plc Annual report and financial statements 2013 59
Overview Strategic review Financial review Governance Financial statements and other information
What are the indicative values of the remuneration packages for each executive director?
The charts below provide an indication of what could be received by each of the executive directors under the remuneration policy
for 2013/14. A substantial proportion of the remuneration packages are performance-related and therefore this is illustrated for
three different performance scenarios (Fixed, Target, Maximum) described in more detail below. These charts are illustrative as the
actual value which will ultimately be received will depend on business performance in the year 2013/14 (for the Annual Bonus
Scheme) and in the three year period to 2015/16 (for the Performance Share Plan (PSP)), as well as share price performance to the
date of the vesting of the Deferred Share Bonus Plan and PSP awards in 2016.
Marc Bolland John Dixon Steve Rowe
100% 47%
18%
43%
34%
35%
23%
£1,313
£2,775
£5,700
Fixed Target Maximum
£000
0
1,000
2,000
3,000
4,000
5,000
6,000
£796
£1,696
£3,496
Fixed Target Maximum
100% 47%
18%
43%
34%
35%
23%
£000
0
1,000
2,000
3,000
4,000
5,000
6,000
£709
£1,497
£3,072
£000
0
1,000
2,000
3,000
4,000
5,000
6,000
Fixed Target Maximum
100% 47%
18%
43%
34%
35%
23%
Steven Sharp Alan Stewart Laura Wade-Gery
£898
£1,931
£3,998
Fixed Target Maximum
£000
0
1,000
2,000
3,000
4,000
5,000
6,000
100% 46%
18%
43%
34%
36%
23%
£757
£1,625
£3,362
Fixed Target Maximum
100% 47%
18%
43%
34%
36%
23%
£000
0
1,000
2,000
3,000
4,000
5,000
6,000
£3,198
£000
0
1,000
2,000
3,000
4,000
5,000
6,000
Fixed Target Maximum
£714
£1,542
100% 46%
18%
43%
35%
36%
22%
Includes all elements of fixed remuneration:
– base salary (for 2013, as shown in the table on page 68);
– pension benefits (using the salary supplement policy on page 60 and, for applicable individuals, also inclusive of a value reflecting deferred participation in the
Company’s defined benefit arrangements); and
– benefits (using the value for 2012/13 included in the single figure table on page 64).
Annual Bonus Scheme. Represents the potential value of the annual bonus for 2013/14. Half of any bonus would be deferred into shares for three years and this is
included in the value shown. No share price growth is assumed.
Performance Share Plan. Represents the potential value of the PSP to be awarded in 2013, which would vest in 2016 subject to the EPS, Revenue and ROCE targets
(disclosed on page 61). No share price growth is assumed.
Fixed Fixed remuneration only. No vesting under the Annual Bonus Scheme and Performance Share Plan.
Target Includes the following assumptions for the vesting of the incentive components of the package:
– Annual Bonus Scheme: 50% of maximum
– Performance Share Plan: 20% of maximum
Maximum Includes the following assumptions for the vesting of the incentive components of the package:
– Annual Bonus Scheme: 100% of maximum
– Performance Share Plan: 100% of maximum