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UK Share Incentives: executive pay at Sage and Barclays, SAYE bonus rate changes, FRC stewardship code, tax rectification, and diary dates—13 February 2025

Published on: 13 February 2025

Published by a LexisNexis Share Incentives expert
Legal News
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Article summary

In this issue:

  • Corporate governance
  • SAYE
  • Useful information
  • Dates for your diary
  • Weekly highlights from other practice areas

Corporate governance

Sage Group shareholders approve revised remuneration policy

Sage Group PLC, the FTSE 100 software provider, secured shareholder backing for its updated directors’ remuneration policy (DRP) at its annual general meeting, narrowly avoiding dropping below the investor dissent threshold that would have placed it on the Investment Association (IA) public register. The DRP resolution received 80.72% of votes in favour. It is understood that proxy adviser Individual Shareholder Services (ISS) had urged investors to oppose the new DRP. The refreshed policy raises the quantum of annual LTIP awards for executive directors from 300% to 400% of salary; an initial 450% ceiling was cut following shareholder engagement. The company said realised executive pay had, in recent years, lagged its performance, with the business delivering upper decile total shareholder return over the past three years while the CEO’s realised pay sat in the lower quartile. The company has also given itself scope to make larger recruitment awards...

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