Ryanair 2016 Annual Report Download - page 36
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36
Comparable E.U. Airline CEO Pay
Base Pay
Bonus
Pension
Share Based
Other
Total Pay
Payments
€’000
€’000
€’000
€’000
€’000
€’000
IAG
1,168
935
293
6,439
37
8,871
easyJet
937
1,238
66
6,121
5
8,367
Lufthansa
1,207
706
543
626
115
3,197
Ryanair
1,058
855
-
1,250
-
3,163
source: latest published accounts
The Company does not provide the CEO with any pension contributions or other benefits which is in keeping with
the low cost ethos of the airline.
In October 2014, the CEO signed a five-year contract which commits him to the Company until September 2019.
This contract replaced a rolling 12-month arrangement under which Mr. O’Leary worked as CEO of the airline since
1994.
4. Share Options
Details of the share options granted to executive and non-executive directors are set forth in Note 19(d) to the
consolidated Financial Statements.
Share options are granted from time to time, at the discretion of the Board and Remuneration Committee to
incentivise superior performance by the management team, to promote and encourage their long term commitment to
Ryanair and to align the objectives of the management team with those of the shareholders. We wish to encourage
management, through share options, to think and act like long term shareholders and prioritise shareholder returns.
Options are allocated by reference to basic pay levels and will only be exercisable where exceptional profit or share price
targets have been achieved over a 5-year period from date of grant. Executives must remain in full time employment
with the group for a 5-year period from the grant date in order to exercise these options.
A small amount of share options are granted to non-executive directors. Whilst this policy is discouraged by the
U.K. Corporate Governance Code, we have a policy of complying with these codes or explaining why we do not. In this
case, because of its substantial NASDAQ listing and US shareholder base, where US investors encourage and promote
non-executive directors’ options, the Company has granted a small amount of share options to non-executive directors.
Details of employee share option plans are set forth in Note 15(c) to the consolidated Financial Statements.
5. Directors’ Pension Benefits
None of the directors, including the executive director, receive any pension benefits as set forth in Note 19(c) to
the consolidated Financial Statements.
6. Directors’ Shareholdings
The interests of each Director that held office at the end of fiscal 2016, in the share capital of the Company are set
forth in Note 19(d) to the consolidated Financial Statements.