Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 294

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 294
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 they concluded that no discretionary reduction to the vesting outcome was required, so the award should vest at 67.5% of the maximum number of shares under the total award, to be released in five equal tranches annually, starting from March 2025. After release, each tranche of shares is subject to an additional 12-month holding period. The 2022-2024 LTIP award was granted in line with the Group's usual annual timetable, in early March 2022.The share price at grant of &pound;1.609 was 8% lower than the share price at the time of the prior year LTIP grant. This level of share price movement between successive grants is very typical. There was a larger increase in share price over the lifetime of the award, during which the share price increased by 56% between the date of grant and the Q4 2024 average share price of &pound;2.5159 on which the value vesting is estimated. As the share price growth was largely over 2024, reflective of strong performance following the announcement of the three-year plan at the Investor Update in February 2024, the Committee concluded that there is no windfall gain and that therefore no adjustment was required. Strategy Shareholder information Climate and sustainability report Risk review Financial review Financial statements Barclays PLC 2024 Annual Report on Form 20-F 152Governance Remuneration report (continued)

LTIP awards granted during 2024 Awards were granted to C.S. Venkatakrishnan and Anna Cross on 8 March 2024 under the 2024-2026 LTIP. The value used to calculate the number of shares under each award was based on a discounted fair value per share of &pound;1.33158, determined by an independent adviser to take into account that dividends or equivalents do not accrue during the vesting period, in accordance with the DRP. The table that follows provides details of those awards. % of Fixed Pay Number of shares Face value at grant Performance period C.S. Venkatakrishnan 140 % 3,022,724 &pound;4,024,999 2024-2026 Anna Cross 134 % 1,811,381 &pound;2,411,999 2024-2026 The performance measures for the 2024-2026 LTIP awards are as follows: Performance measure Weighting Threshold Maximum vesting Financial measures 2026 RoTE,