Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 220

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 220
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 relative terms. We considered each business's contribution to the achievement of our strategic targets and its importance to our future success. Taking all of this into account, the Committee has approved a Group incentive pool for 2024 performance of &pound;1,914m (2023: &pound;1,745m), up 10% year on year. This compares to profit before tax that is up 24%, or up 8% when last year&#8217;s fourth quarter structural cost actions of &pound;927m are excluded from the 2023 figure. This level of incentive funding for 2024 reflects performance across the Group, enabling us to reward colleagues for the performance delivered &#8211; recognising the progress made against our three-year plan and our ambition to be consistently excellent in our operations. The incentive pool reduced in each of the previous two years, and as a result this 2024 incentive pool is broadly the same level as that for performance-year 2021. Over the same three-year period, performance has improved across a range of measures. The compensation to income ratio for 2024 is 32.7%, the lowest since 2015. As always, a significant portion of the pool will be delivered in shares, most of which will be deferred over a number of years. Executive Director remuneration Determining the Executive Directors' pay outcomes The Committee considered the Executive Directors&#8217; annual bonus and LTIP outcomes in the context of the Group&#8217;s performance and the performance of each Executive Director during 2024. The 2024 annual bonus outcome for C.S. Venkatakrishnan (known as Venkat) was 81.0% of maximum, and for Anna Cross was 80.5% of maximum (2023: 53.3% for Venkat and 54.3% for Anna). Profit before tax provided a 40.1% outcome out of a possible 50%, and total operating expenses provided a 9.4% outcome out of a possible 10%. Performance against the strategic non-financial measures was good, which resulted in a 17.5% outcome out of a possible 25%. The performance of each of the Executive Directors against their personal objectives was also assessed and taken into account, recognising the strategic progress achieved over 2024 (14% for Venkat and 13.5% for Anna out of a possible 15% for each). The 2022-2024