| The company is transparent on its remuneration policies, level and mix of remuneration, the procedure for setting remuneration, and the relationships between remuneration, performance and value creation. |
Increasingly, remuneration matters are receiving attention from shareholders and the public. Their disclosures (and non-disclosures) are closely scrutinised by shareholders, proxy advisors, analysts and the media, especially in relation to the Executive Directors (EDs) and Key Management Personnel (KMP).
The Provisions describe the different types and forms of disclosure for:
- How remuneration is set, and the remuneration breakdown of each director, CEO and at least the top five KMP (Provision 8.1).
- The remuneration of employees who are related to a director, the CEO or a substantial shareholder (Provision 8.2).
- All the forms of remuneration of directors and KMPs, including details of employee share schemes (Provision 8.3)
Provision 8.1
The company discloses in its annual report the policy and criteria for setting remuneration, as well as names, amounts and breakdown of remuneration of:
- each individual director and the CEO; and
Provision 8.2
The company discloses the names and remuneration of employees who are substantial shareholders of the company, or are immediate family members of a director, the CEO or a substantial shareholder of the company, and whose remuneration exceeds S$100,000 during the year, in bands no wider than S$100,000, in its annual report.
Provision 8.3
The company discloses in its annual report all forms of remuneration and other payments and benefits, paid by the company and its subsidiaries to directors and key management personnel of the company. It also discloses details of employee share schemes.