Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 246

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 246
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 structures), alignment with shareholders and other stakeholders, and addressing competitiveness challenges, the proposed changes to the policy and Executive Directors&#8217; salaries for 2025 are presented in the table below: DRP element Proposed changes Salary In place of &#8216;fixed pay&#8217; under the current DRP &#8226; Reduced by 46% for the CEO, from &pound;2.95m to &pound;1.59m, and by 49% for the GFD, from &pound;1.85m to &pound;0.95m. &#8226; Alongside that, we will simplify the structure of fixed pay. Under the current DRP, half of fixed pay is delivered in fixed pay shares. As fixed pay is being brought into line with norms at banking peers that are not (and were not) subject to the 2:1 cap, this unusual, complex delivery structure will be removed, so fixed pay will revert to being &#8216;salary&#8217; and be paid entirely in cash. &#8226; With lower fixed pay, a greater proportion of Executive Directors&#8217; pay will be performance-based. Annual bonus &#8226; Increased maximum annual bonus opportunity to 250% of salary for both the CEO and GFD. Of this, financial factors will normally guide at least 65% of the bonus opportunity. &#8226; Under the current DRP, the annual bonus opportunities are 93% and 90% of fixed pay respectively, though those are multiples of significantly higher fixed pay so are not directly comparable. Financial factors normally guide at least 60% of the opportunity. LTIP award &#8226; Increased maximum LTIP opportunity to 550% of salary for the CEO and 500% for the GFD. Of this, financial measures will normally make up at least 75% of the total opportunity. &#8226; Under the current DRP, the maximum LTIP grant is 140% of fixed pay for the CEO and 134% for the GFD, noting again that these multiples are based on significantly higher fixed pay so are not directly comparable. Financial measures normally make up at least 70% of the total opportunity. Balance of incentives &#8226; Larger proportion of variable pay opportunity delivered in LTIP (69% vs 60% currently), rather than bonus, to promote a longer- term focus. &#8226; Increased weighting to financial measures, which we will use