47153 AG Barr Annual Report 2025 AW4 SQ WEB - Flipbook - Page 100
A.G. BARR p.l.c. Annual Report and Accounts 2025
D I R E C TO R S ’
R E M U N E R ATI O N R E P O R T
CO N TI N U ED
Payments for loss of office – audited information
Roger White
As disclosed in last year’s report, Roger White retired as a director of the Company on 30 April 2024, however he remained employed full-time until 31 July 2024,
when his employment then terminated. The following arrangements applied in respect of his remuneration:
Roger White received his existing salary and benefits up until 31 July 2024. He did not receive any payment in lieu of notice.
Roger White remained eligible for an annual bonus for the financial year ended 25 January 2025. The bonus awarded (as disclosed on page 97) was
prorated for the period up to 30 April 2024 to reflect his period of service as an executive director and remains subject to malus and clawback in accordance
with the Policy.
Roger White retained the deferred shares awarded to him in respect of his bonuses for the financial years ended January 2023 and January 2024. The shares
awarded to him in respect of the financial year ending January 2023 were released at the end of the relevant two-year deferral period subject to malus and
clawback. The shares awarded to him in respect of the financial year ending January 2024 will be released at the end of the relevant two-year deferral period
and remain subject to malus and clawback.
The Remuneration Committee determined that Roger was a “good leaver” under the Company’s LTIP. He therefore retained his awards over shares made to
him in April 2022 and April 2023. These awards will vest at their normal vesting dates, subject to the achievement of the relevant performance conditions and
to pro-rating based on the proportion of the relevant performance periods for which he was employed as an executive director. The awards will remain
subject to malus and clawback.
Executive director
LTIP
Total
Shares
Roger White**
2022
115,239
*
**
Value of
award at
grant
(£000)
End of
performance
period
647
25/01/2025
Vesting
Total
number of
shares
vesting
Vesting date
Value
attributable
to share
price
movement
100%
120,444
08/04/2025
40
Value of
Value of
dividend
LTIP shares equivalents
vesting*
due
(£000)
(£000)
657
30
Value of
element of
LTIP
(£000)
687
The long term incentives figure for the year ended 25 January 2025 has been valued using the average closing share price for the three months ended 25 January 2025 as an estimate of the value of the
incentive, as the actual value of the award will not be finalised until the closing share price is known when the incentive vests in April 2025.
Prorated based on the proportion of the relevant performance periods for which he was employed with the business.
No further awards were made to Roger White under the LTIP.
Further details of the actual vesting following the end of the relevant performance periods will be disclosed in future Directors’ Remuneration Reports.
Roger White did not receive any payments for loss of office.
98
