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Survey Report | Executive Pay Memo – UK

Executive remuneration in FTSE 100 companies – 2020 report

2020 market data report for executive and non-executive directors

Executive Compensation
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By Jane O'Reilly , Alex Lawrie , Diana Ouma and Dominic Okus | October 29, 2020

Our 2020 recap of the Annual General Meeting season, plus executive director pay trends and non-executive director fees for companies in the FTSE 100.

This report provides a final update for the 2020 Annual General Meeting (AGM) season on key pay developments this year. It also sets out an overview of executive director market data and non-executive director fees for companies in the FTSE 100.

Our report is organised into three sections:

  1. 01

    Firstly, we highlight the key headlines and trends identified from the 2020 AGM season, including:

    Who changed what?

    We examine trends in policy changes and the driving forces behind these developments.

    How did investors and proxy agencies react?

    What were the main areas of contention when it came to proxy agency recommendations, and how did companies respond?

    What happened at AGMs?

    Our report looks at the change in median AGM voting out-turn and proportion of companies receiving different levels of support.

    How has COVID-19 impacted reporting in 2020, and what impact might it continue to have in 2021?

    Our report provides insight into how companies have responded to the unprecedented period of economic and social dislocation created by COVID-19, including:

    • detail on base salary changes made in response to the pandemic
    • actions taken by companies on incentives in relation to the 2019/20 performance year
    • actions taken on incentives in relation to the 2020/21 performance year.
  2. 02

    Secondly, we analyse market data for executive directors in FTSE 100 companies.

    This section examines market data in the following areas:

    • Salary
    • Benefits
    • Annual bonus
    • Long-term incentive plans (LTIPs)
    • Single figure compensation
    • Shareholding guidelines
  3. 03

    Lastly, we look at fees paid to non-executive directors.

    This section details the fee levels paid to non-executive directors in the FTSE 30, FTSE 50 and FTSE 100. The Chairman is typically paid an all-inclusive fee for all responsibilities, based on company size, time commitment and role responsibilities. Non-executive directors are typically paid a base fee for Board membership, with additional fees for other responsibilities such as chairing a Board Committee.

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Authors

Senior Director, Executive Compensation

Associate Director, Executive Compensation (London)

Analyst, Executive Compensation

Analyst, Executive Compensation

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