2016 UK Corporate Governance Code—Schedule A—The Design of Performance-Related Remuneration for Executive Directors
2016 UK Corporate Governance Code—Schedule A—The Design of Performance-Related Remuneration for Executive Directors

The following Corporate practice note provides comprehensive and up to date legal information covering:

  • 2016 UK Corporate Governance Code—Schedule A—The Design of Performance-Related Remuneration for Executive Directors
  • Mini-index
  • Schedule A—Setting the scene
  • Balance
  • Share-based remuneration
  • Pensions
  • Notes

This Resource Note outlines the main provisions of Schedule A of the 2016 UK Corporate Governance Code (UKCG Code), on 'The Design of Performance-Related Remuneration for Executive Directors', and highlights relevant third party materials, guidance, commentary and analysis, as well as our own resources, to give practical guidance on its application.

Materials covered in this Resource Note include:

  1. the Financial Reporting Council (FRC)'s 2018 Guidance on Board Effectiveness

  2. the IA Principles of Remuneration 2019 published by the Investment Association (IA)

  3. various guidance issued by The Chartered Governance Institute (previously ICSA: The Governance Institute) (CGI)

  4. the 2020 United Kingdom and Ireland Proxy Voting Guidelines, published by Institutional Shareholder Services (ISS)

  5. the Stewardship Guide and Voting Guidelines 2020 published by the Pensions and Lifetime Savings Association (PLSA)

  6. the UK Shareowner Voting Guidelines, published by Pensions Investment Research Consultants Ltd (PIRC), available from PIRC's website

  7. the Local Authority Pension Fund Forum (LAPFF)'s Expectations for Executive Pay (March 2013) (available from LAPFF website)

  8. resources in the Corporate practice area

Mini-index

Schedule A—Setting the scene

Schedule A—Balance

Schedule A—Share-based remuneration

Schedule A—Pensions

Schedule A—Setting the scene

In a nutshell...Schedule A discusses a number of factors that remuneration committees should consider in designing schemes of performance-related remuneration, including the balance between fixed and performance-related, immediate and deferred remuneration and particular issues related to share-based remuneration and pensions.
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