Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 258

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 258
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 only exercise this right if it believed it was in the best interests of the Company to do so and where it is not possible, practicable or proportionate to seek or await shareholder approval in a General Meeting. Remuneration policy alignment between the Executive Directors and all other employees of the Group The structure of remuneration packages for the Executive Directors is closely aligned with that for the broader employee population. Employees receive salary, pension and benefits and are eligible to be considered for a bonus. The broader employee population typically does not have a contractual limit on the quantum of remuneration (though an internal cap on the ratio of variable to fixed remuneration currently applies for MRTs). As for the Executive Directors, variable pay for the broader employee population is performance based. Variable pay for both the Executive Directors and the broader employee population is subject to deferral requirements. Executive Directors and other MRTs are subject to deferral at least equal to that required by regulation, currently a minimum rate of 40% to 60%, depending on the total value of variable pay. For non-MRTs, bonuses in excess of &pound;65,000 are currently subject to a graduated level of deferral. The terms of deferred bonus awards for Executive Directors and the wider employee population are broadly the same, in particular the vesting of all deferred bonuses is subject to service and malus conditions. The broader employee population does not participate in the Barclays LTIP. While we have not sought employee views on the DRP, we have considered remuneration policies for the broader employee population when reviewing the DRP. In our Fair Pay Report, we explain in more detail how employee and Executive Director pay is aligned. How shareholder views are taken into account by the Committee in setting the policy We recognise that remuneration is an area of particular interest to shareholders and that it is important that we listen to shareholder views and take these into account when setting and considering changes to remuneration. In developing the new policy, we engaged with shareholders and had meetings with shareholder representative bodies and proxy agencies, in the latter part of 2024 and the early part of 2025. The Committee found the feedback from shareholders during consultation on the DRP review invaluable, in converging on the proposed DRP changes. Shareholders expressed alike views across a wide range of topics. There was universally strong support to proceed with a revised DRP in 2025, in light of the removal of the 2:1 bonus cap regulations. There was also wide- ranging recognition