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UK share incentives: FTSE 100 directors' pay, draft repeal of SRD II remuneration reporting and audit changes; Lloyds fixed pay; GAAR/DOTAS rulings; Finance Bill progress; NICs amendments; diary dates.

Published on: 06 March 2025

Published by a LexisNexis Share Incentives expert
Legal News
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In this issue:

  • Corporate governance
  • Company law and regulatory matters
  • Useful information
  • Dates for your diary
  • Weekly highlights from other practice areas

Corporate governance

GSK plc and BAE Systems plc unveil new directors’ remuneration policies

FTSE100 groups GSK plc and BAE Systems plc have released updated directors’ pay frameworks within their 2024 annual reports, each proposing meaningful rises for their CEOs. GSK plc has emphasised that its chief executive’s overall package sits below the lower quartile of its global biopharma peer set across all compensation metrics, with the sole exception of base pay, where she remains below the median. Accordingly, the CEO’s base pay will rise by 5%, and her on-target annual bonus will move from one times to 1.5 times salary, with the cap remaining three times salary under the new arrangements. The CEO’s LTIP award maximum will lift from six to eight times base salary, with the 2025 award set at 7.25 times to reflect that change. BAE Systems’ remuneration committee has likewise warned of the risk of losing leading talent to competitors, highlighting retention pressures across its market to rivals...

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