Hargreaves Lansdown proposes discount to exec bonuses

The Annual Common Assembly (AGM) of Hargreaves Lansdown plc will probably be held at The Bristol Resort, Prince Road, Bristol BS1 4QF on Friday 8 December 2023 at 11.00am

The proposed resolutions embrace approval of the administrators’ remuneration coverage. The proposals envisage slicing the utmost bonuses.

Underneath the present coverage, the utmost bonus alternative quantities to 400% of base wage for the CEO and 350% for the CFO.

Underneath the proposals, there will probably be discount of the annual bonus most alternative to 250% and 220% of wage for the CEO and CFO respectively.

In keeping with the present coverage, the on-target bonus gives 50% of most alternative for all Government Administrators. The on-target bonus will stay at 50% of most alternative, underneath the proposals.

Underneath the present coverage, a proportion of the bonus is deferred over three years, with an extra post-vesting holding interval relevant as required underneath regulation.

Deferral is greater of 40% of annual bonus awarded and 60% of whole variable pay consistent with the Funding Agency Prudential Regime (IFPR) regulatory necessities. Awards will probably be delivered in an acceptable mixture of money and shares, consistent with regulatory necessities, with a minimal of fifty% of whole variable pay delivered over HL plc shares. The mix of money and shares will probably be decided every year by the Committee.

Underneath the proposed coverage, awards will proceed to be delivered in a mix of money and shares, with a minimal of fifty% of whole variable remuneration delivered over HL plc shares and topic to any additional postvesting holding interval relevant consistent with regulatory necessities.

A proportion of whole variable remuneration (usually 60%) will probably be topic to deferral to fulfill regulatory necessities, making an allowance for all variable pay awarded for the 12 months, together with any Efficiency Share Plan (PSP) and Sustained Efficiency Plan (SPP) awards.