Company: ARBK
Filing Date: 2025-05-09
Form Type: 6-K
Source: 0001654954-25-005344
Chunk: 17

Company: Argo Blockchain Plc
Filing Date: 2025-05-09
Form: 6-K
Chunk 17
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2025 areas of focus:

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Launch the equity administration platform to improve compliance and financial reporting ;

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Continue with a comprehensive review of remuneration; and

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Refine and improve employee growth and retention strategies,

Letter from the Chair of the Remuneration Committee

Dear Shareholders,

The Remuneration Committee met formally three times during the financial year, and all of the Directors on the Committee attended all of these meetings. The Committee oversees matters relating to compensation, including benchmarking against comparable peers, adopting a new equity incentive plan, and the grant of awards under that plan to align remuneration with the interests of our shareholders.

The Remuneration Committee consists of myself as Chair and Maria Perrella as Member. In June 2024, I became Chair, replacing Maria Perrella, who remains a Member. The Committee has discretion to invite appropriate members of the executive management of the Company to the meetings as required and considers their input and recommendations to be critical to ensuring a well- developed remuneration strategy. In order to ensure appropriate scrutiny of all decisions, no director was present when their own remuneration was considered, approved, or voted upon; the Committee also takes advice and guidance from independent advisors and legal counsel.

The Group’s remuneration challenges include the different market norms and expectations between the jurisdictions in which it operates. The reward markets in the UK and US have significant differences, particularly in the technology sector, and market expectations in the UK can present challenges to the Group in structuring attractive remuneration packages, particularly for the Company’s senior executive leadership. More generally, the Group is also competing against significantly larger and better capitalised companies in the cryptoasset sector.

During the year under review, the Company’s remuneration strategy was to deliver remuneration packages consistent with the Company’s Remuneration Policy and market norms that provide a balanced structure of short, medium, and longer-term remuneration. Remuneration packages typically comprised a competitive base salary, appropriate annual bonuses and longer-term equity incentivisation. In addition, the Company has offered competitive benefit and pension offerings based on the market norms in the country relevant to each team member.

The Committee took the following key decisions in relation to remuneration during the year:

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approved a compensation audit and strategy to deliver standardization of the Company’s offerings to each employee group;

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approved the Company’s refresh of Restricted Share Unit and Performance Share Unit awards to strengthen alignment across the organization; and

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approved appropriate cost of living salary