Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 256

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 256
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 after-tax value of any unvested LTIP awards provided that no performance conditions remain untested. After the Executive Director has stepped down, the shareholding requirement will be maintained through self certification, to the extent it is not met via relevant awards under the Group&#8217;s employee share plans or shares held in Barclays nominee accounts. No maximum, the requirement sets out the minimum required shareholding and timeframes. Element and purpose Operation Maximum value and performance measures Legacy arrangements This DRP also permits the Group to honour any commitments with current or former Directors entered into prior to the approval and implementation of the policy (such as the grandfathering of past deferred compensation awards), provided that such commitments complied with any applicable remuneration policy in effect at the time they were entered into. Risk and conduct adjustment &#8211; malus and clawback Any annual bonus or LTIP awarded is subject to malus and clawback provisions. The malus provisions enable the Committee to reduce the amount of unvested bonus or LTIP (including to nil) prior to vesting in specified circumstances, including but not limited to: &#8226; a participant deliberately misleading Barclays, the market and/ or shareholders in relation to the financial performance of the Barclays Group &#8226; a participant causing harm to Barclays&#8217; reputation or where his/ her actions have amounted to misconduct, incompetence, poor performance, material error or negligence &#8226; a material restatement of the financial statements of the Barclays Group or any subsidiary, or the Group or any business unit suffering a material downturn in its financial performance &#8226; a material failure of risk management in the Barclays Group &#8226; a significant deterioration in the financial health of the Barclays Group. The clawback provisions enable amounts to be recovered after they have been paid or vested, for a period in line with applicable regulation &#8211; currently seven years from grant (which can be extended to up to 10 years if a relevant investigation is ongoing at the end of the initial seven-year period) where (i) a participant&#8217;s actions or omissions have amounted to misbehaviour or material error and/or (ii) Barclays or the relevant business unit has suffered a material failure of risk management. Performance measures and targets for the Executive Directors' annual bonus and LTIP awards The Committee selects financial performance measures that are fundamental to delivery against the Bank&#8217;s strategy and are considered to be the most important financial measures used by the Executive Directors and the Board to oversee the direction of the business