Page 171 - Sigmaroc Annual-Report 2023

ANNUAL REPORT ON REMUNERATION
The remuneration of the executive directors for the year ended 31 December 2023 was as shown in the table below:
31 December 2023
Executive Directors
David Barrett 881 Max Vermorken 1,132 Garth Palmer 892
2,905
171
Directors’ fees £’000
Bonus £’000
Taxable benefits £’000
Pension benefits £’000
Options issued 1 £’000
Total £’000
375
469
15
22
475
594
15
48
-
-
375
469
15
33
1,225
1,532
45
103
-
-
The remuneration of the executive directors for the year ended 31 December 2022 was as shown in the table below:
Executive Directors
Directors’ fees £’000
Bonus £’000
Taxable benefits £’000
Pension benefits £’000
Options issued 1 £’000
Total £’000
375
469
15
-
-
475
594
15
60
-
375
469
15
40
-
1,225
1,532
45
100
-
David Barrett 859 Max Vermorken 1,144 Garth Palmer 899
Underlying EPS (75% of the total bonus)
2,902
1 Options issued relate to options granted in the 2019 financial year and vesting in the 2021 financial year.
ANNUAL BONUS FOR 2023
The annual bonus opportunity for each executive director was 125% of base salary (pro-rated for service). The 2023 annual bonus was based on the achievement of stretching underlying EPS targets for 75% with the remaining 25% based on corporate objectives.
Threshold level of underlying EPS
Maximum level of underlying EPS
Actual level of underlying EPS
Bonus earned (percentage of max)
7.3p
7.65p
8.0p
100.0%