Peachtree 2015 Annual Report Download - page 85

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Single figure for total remuneration (audited information)
The following table sets out the single figure for total remuneration for executive directors for the financial years ended 30 September 2014 and 2015.
(a)
Salary/fees1
£’000
(b)
Benefits2
£’000
(c)
Bonus3
£’000
(d)
Pension4
£’000
(e)
PSP awards5
£’000
(f)
Other8
£’000
Total
£’000
Director 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014 2015 2014
Executive directors
S Kelly6718 –19 –599 –179 –––6–1,521 –
S Hare 491 360 37 15 414 256 123 89 –––81,065 728
G S Berruyer777 765 12 121 –539 19 191 ––––108 1,616
Non-executive
directors
D H Brydon 360 360 48 46 ––––––––408 406
R Markland 78 88 ––––––––––78 88
N Berke 60 60 ––––––––––60 60
D Hall 70 45 ––––––––––70 45
J Howell 77 74 ––––––––––77 74
I Kuznetsova 60 34 ––––––––––60 34
1 Details of salary progression since appointment for the current executive directors are summarised in the Statement of implementation of remuneration policy in the
following financial year on page 88. Current fees for the Chairman and non-executive directors are set out on page 89.
2 Benefits provided to the executive directors included: car benefits or cash equivalent,private medical insurance, permanent health insurance, life assurance,financial advice
and travel and subsistence. £20,000 of Steve Hare’s benefits relate to the grossed-up cost of his travel to Sage’s London office which, since 1 April 2015, has been deemed a
taxable benefit as a result of the enhanced amount of time that he has been required to spend in London aending to Sage maers.A housing allowance of £100,000 per
annum was provided to Guy Berruyer, pro-rata to his retirement date of 5 November 2014. Donald Brydon receives a company car benefit.
3 Bonus payable in respect of the financial year including any deferred element at face value at date of award. Further information about how the level of 2015 award was
determined is provided in the additional disclosures below.
4 Pension emoluments for both executive directors were equal to 25% of base salary.
5 The 2015 PSP value is based on the PSP award granted in 2013 which is due to vest in March 2016. Neither Stephen Kelly nor Steve Hare have awards under this plan.
The conditions for Guy Berruyer’s award were satisfied following his retirement date of 5 November 2014; consequently, thePSPis excluded from the single figure table
above.Further information about the level of vesting is provided in the additional disclosures below.
6 Stephen Kelly was appointed as a director on 5 November 2014. Figures in the table relate to the period from that date to the end of the financial year.
7 Guy Berruyer retired from the Board on 5 November 2014. Figures in the table relate to the period from the beginning of the financial year to that date.
8 Stephen Kelly’s award under the Sage Group Savings Related Share Option Plan (SRSOP) has been valued as the number of options multiplied by the difference on the
grant date (17 June 2015) between the share price (540.5p) and the option price (456p). Steve Hare’s remuneration for 2014 has been restated to include the valuation of
his SAYE award on thesame basis. The share price on the grant date (12 June 2014) was 404.6p and the option price was 317p. Further details are set out on page 90.
Additional disclosures for single figure for total remuneration table
Annual bonus
The bonus targets for FY15 were set by reference to the same performance measures as FY14 and were aligned with the three-year strategic goals,
in particular the achievement of 6% organic revenue growth and 28% underlying operating margin.
As outlined in the Statement of the Remuneration Commiee Chairman, the Commiee has determined that underlying PBT and organic revenue
growth performance should be assessed with actuals calculated on a consistent basis with the targets that were set at the start of the financial
year (i.e. with both targets and actuals calculated prior to the changes in the application of the revenue recognition policy to certain products
outlined on page 110 of the Annual Report).
Directors’ annual remuneration report
The Sage Group plc | Annual Report & Accounts 2015 83
FINANCIAL STATEMENTSGOVERNANCESTRATEGIC REPORT