Company: HBCYF
Filing Date: 2025-02-20
Form Type: 20-F
Source: 0001089113-25-000040
Chunk: 438

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-20
Form: 20-F
Chunk 438
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4. Taking into account the Group’s performance against risk metrics, and inputs from the Group Risk Committee, the Committee used its judgement and applied no adjustment in respect of risk matters to executive Director annual incentive outcomes for 2024. 2022–2024 LTI vesting Georges Elhedery and Sir Noel Quinn participated in the 2022–2024 LTI that will vest in March 2025. The maximum RoTE and relative TSR targets were exceeded , reflecting the strong absolute and relative performance of the Group over the performance period. The capital reallocation to Asia measure was not met and performance against the environment measures exceeded the maximum target. 75% of the original award will vest on a pro-rata basis over the next five years. 2025–2027 LTI awards The Committee intends to grant both Georges Elhedery and Pam Kaur the maximum 2025-2027 LTI award of 600% of base salary (Georges Elhedery: £9,000,000 , Pam Kaur: £5,250,000 ), subject to shareholder approval of the LTI opportunity under the new policy. The value realised from the award is subject to performance over the next three years and the award will vest over a further five years with a one-year retention period on vesting shares. For further details, see ‘Long-term incentive (’LTI’) awards‘ on page 329 . Rewarding our colleagues We are taking actions that improve our ability to attract, retain and energise colleagues to deliver high performance and growth. In 2024, we changed our performance approach by simplifying ratings and focusing on better performance routines. In our Snapshot survey, 87% of colleagues reported a clear understanding of what is expected of them and 77% confirmed at least two performance check-in conversations with their manager. We also introduced a new target variable pay plan, which covers over 150,000 colleagues in 46 markets to increase transparency and differentiation of variable pay. The Committee is encouraged by increasing pay sentiment year-on- year in most areas because of actions taken through 2023, which is expected to improve further following changes introduced in 2024. For further details, see ‘Our approach to workforce reward‘ on page 332 . Fixed pay We are pleased to be accredited as a global living wage employer in 2025 and meet or exceed living wage benchmarks in all our markets. This gives confidence that we provide core financial security to colleagues through fixed pay, which is the largest part of most colleagues