Lloyds Banking to Cut Long-Term Share Plan Awards by 40%
24 Febbraio 2021 - 4:34PM
Dow Jones News
By Adria Calatayud
Lloyds Banking Group PLC said Wednesday that its remuneration
committee has decided to cut 2021 long-term share-plan awards by
40% to reflect the group's performance last year, its current share
price and shareholders' experience.
The FTSE 100 lender said it has committed to continue to pay
staff their full salary, no matter how the pandemic affected what
they do, and to give all permanent eligible staff a 400-pounds
($565) share award.
Lloyds said there will be no annual bonus pool for 2020 as its
profit threshold wasn't met. Long-term share-plan awards for 2020
will be granted to a small number of senior staff, but there are
fewer employees receiving awards than are eligible or who may have
received awards in previous years, the bank said.
Chief Executive Antonio Horta-Osorio's total remuneration for
2020 is down 22% at GBP3.4 million, Lloyds said.
Members of Lloyds's executive committee confirmed in April that
they would wave their right to be considered for a bonus award in
respect of 2020 performance, the bank said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
February 24, 2021 10:19 ET (15:19 GMT)
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