Marks and Spencer 2015 Annual Report Download - page 63

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OUR PERFORMANCEFINANCIAL STATEMENTS GOVERNANCE OUR BUSINESS
61
ANNUAL REPORT AND FINANCIAL STATEMENTS 2015
DIRECTOR
FIGURE 7: REMUNERATION ILLUSTRATIONS
APPLICATION OF THE REMUNERATION POLICY
BASIS OF CALCULATIONS
Fixed Fixed remuneration only. No vesting
under the Annual Bonus Scheme
and PSP.
Target Includes the following assumptions
for the vesting of the incentive
components of the package:
– Annual Bonus Scheme: 50% of
maximum; and
– PSP: 20% of maximum.
Maximum Includes the following assumptions
for the vesting of the incentive
components of the package:
– Annual Bonus Scheme: 100%
of maximum; and
– PSP: 100% of maximum.
Fixed remuneration
Includes all elements of fi xed
remuneration:
– Base salary (e ective 1 July 2015,
as shown in the table on page 63);
– Pension benefi ts (using the salary
supplement polic y on pages 54
to 55); and
– Benefi ts (using the value for 2014/15
included in the single fi gure table
on page 62. For Helen Weir, the
average value of benefi ts of the other
executive directors has been used
for the purpose of this calculation.
Annual Bonus Scheme (ABS)
Represents the potential value of the
annual bonus for 2015/16. 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.
PSP
PSP represents the potential value of
the PSP to be awarded in 2015, which
would vest in 2018 subject to the
performance against the targets
disclosed on page 67. No share price
growth is assumed.
KEY ASSUMPTIONS
The charts below provide an illustration
of what could be received by each of the
executive directors in 2015/16.
These charts are illustrative as the actual
value which will ultimately be received will
depend on business performance in the
year 2015/16 (for the cash element of the
bonus scheme) and in the three-year period
to 2017/18 (for the PSP), as well as share price
performance to the date of the vesting of
the share element of the bonus scheme
and PSP awards in 2018.
0
2,000
4,000
6,000
MaximumTargetFixed
Marc Bolland
£000
£1,287
100% 47% 23%
34%
43%
35%
18%
£2,749
£5,674
0
2,000
4,000
6,000
MaximumTargetFixed
John Dixon
£000
£790
100% 46% 22%
35%
43%
36%
18%
£1,708
£3,544
0
2,000
4,000
6,000
MaximumTargetFixed
Helen Weir
£000
£766
100% 46% 22%
35%
43%
36%
18%
£1,651
£3,421
0
2,000
4,000
6,000
MaximumTargetFixed
Patrick Bousquet-Chavanne
£000
£719
100% 47% 23%
34%
43%
35%
18%
£1,538
£3,176
0
2,000
4,000
6,000
MaximumTargetFixed
Steve Rowe
£000
£738
100% 47% 23%
34%
43%
35%
18%
£1,573
£3,244
0
2,000
4,000
6,000
MaximumTargetFixed
Laura Wade-Gery
£000
£731
100% 46% 22%
35%
43%
36%
18%
£1,585
£3,292
INFORMATION ON REMUNERATION POLICY SINCE APPROVAL CONTINUED