Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 222

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 222
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 current fixed pay levels, at &pound;1,590,000 for Venkat and &pound;950,000 for Anna. As part of that change,&#8216;Fixed Pay&#8217; will be renamed &#8216;salary&#8217; and be paid in cash, in line with industry norms across the UK. The new DRP sees a larger proportion of each Executive Director's total compensation opportunity delivered as variable pay, which will further strengthen the alignment of Executive Director and shareholder interests, and creates a stronger link between pay and performance. As part of this, the Committee has decided to defer granting awards under the 2025-2027 LTIP cycle until after the DRP has been considered by shareholders at the 2025 AGM, with the intention to grant 2025-2027 LTIP awards in line with the award level under the new policy. The levels of awards reflect strong performance in 2024, and each Executive Director&#8217;s personal contributions to that, and provide each with an incentive award subject to forward-looking performance conditions across 2025 to 2027. The Committee reviewed the measures in the 2025 annual bonus and 2025-2027 LTIP, taking into account the shareholder feedback received through the consultation on the DRP review, as well as the Group and business priorities announced at the Investor Update. Shareholders expressed a preference for: &#8226; A higher weighting to financial measures &#8226; Simpler and more-focused measures (both financial and non-financial) &#8226; Less overlap between the annual bonus and LTIP. Strategy Shareholder information Climate and sustainability report Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 114Governance Remuneration report (continued)

Reflecting on this, we made the decision to increase the minimum weightings for financial measures under the new DRP, from 60% to 65% for bonus and 70% to 75% for LTIP. We also reviewed the financial and non-financial performance measures in each plan, in support of our new DRP, to address shareholder feedback &#8211; and in doing so more directly incentivise the achievement of the targets and priorities set out under our three-year plan, and beyond. For the Executive Directors' 2025 annual bonus, we will focus on just two financial measures. PBT will be weighted 55%, as a key building block for RoTE (a key external target