Executive directors' total remuneration received (audited)
Single total figure of remuneration in 2013 and 2012
|Base salary and fees||Benefits3||DEPs4||Pension||Short-term incentives5||Long-term incentives6||Total annual remuneration|
1 As noted in the Letter from the chairman of the Compensation Committee, effective 1 January 2013, the Group chief executive’s remuneration package was reduced with decreases to base salary, pension allowance and short- and long-term incentive opportunities.
2 Any US dollar amounts received in 2013 have been converted into sterling at an exchange rate of $1.5646 to £1.
3 See Details of benefits.
4 Sir Martin Sorrell receives payments in accordance with the approval granted by share owners of amounts equal to the dividends that would be payable during 2013 totalling £1,100,578 (£940,480 during 2012) in respect of the shares reflected in the UK and US Deferred Stock Units Awards Agreements (which are the agreements that now comprise the awards granted under the Capital Investment Plan in 1995).
5 This is the aggregate amount awarded for the 2013 (and 2012) financial years’ performance. The awards are delivered equally in a deferred share bonus in the form of an ESA (which vests two years from date of grant subject to continued employment) and cash.
6 This is the value of the 2009 (and 2008) LEAP Awards which vested in 2014 (and 2013) following the end of the five-year performance period on 31 December 2013 (and 31 December 2012).
7 In this table, the value of benefits shown as having been received by Sir Martin Sorrell for 2012 is £85,259 less than was disclosed in last year’s Annual Report. This is because a non-taxable life insurance premium was included in the benefits figure disclosed in last year’s Annual Report and, following the implementation of the new UK directors’ remuneration reporting requirements, only taxable benefits should be disclosed. A corresponding adjustment has been made to the 2012 total annual remuneration figure for Sir Martin.
|Sir Martin Sorrell 1,2||2013||1,150||350||1,101||460||4,115||22,670||29,846|
Chapter 9 of 13