Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 261

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 261
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 DRP, an increase by 27% for the CEO and 15% for the GFD. Strategy Shareholder information Climate and sustainability report Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 135Governance Remuneration report (continued)

Executive Directors' policy on recruitment Barclays operates in a highly specialised sector and many of its competitors for talent are outside of the UK. The Committee&#8217;s approach to remuneration on recruitment of a new Executive Director is to pay the amount necessary to fill the role with a suitable candidate of the quality required to fulfil the role successfully, while avoiding paying more than is necessary. Approval of the remuneration package offered on appointment to any new Executive Director is a specific requirement of the Committee&#8217;s Terms of Reference. The terms of such packages must be approved by the Committee in consultation with the Chairman and (except for the terms of his own remuneration or that of his successor) the Group Chief Executive. Any new Executive Director&#8217;s package would include the same elements as those of the existing Executive Directors, as follows. Element and purpose Operation Fixed Pay In line with policy Pension In line with policy Benefits In line with policy Annual bonus and LTIP award The ongoing annual bonus and LTIP award eligibility for an appointment to the Group Chief Executive or Group Finance Director role would be as set out in the policy table for Executive Directors. If any new Executive Director role is appointed to the Board, the Committee will consider the appropriate maximum annual bonus and maximum LTIP opportunities for the role, as a multiple of salary. Neither of these will exceed the parameters of the policy for the Group Chief Executive. The maximum level of variable remuneration that may be awarded following recruitment is 250% of salary under the annual bonus and 550% of salary for the Group Chief Executive and 500% of salary for the Group Finance Director under the LTIP (excluding any buy-outs, as described below), in line with policy maxima for the existing Executive Directors. Buy-out The Committee can consider buying out forfeited incentive opportunity and/ or incentive awards that the new Executive Director has forfeited as a result of accepting the appointment with Barclays, subject to proof of forfeiture where applicable. The Committee will take reasonable steps to ensure that any award made to compensate for forfeited remuneration from the new Executive Director&#8217;s previous employment is not more generous than, and mirrors as far as possible the expected value, timing, form of delivery and terms of the