Fixed pay comprises base salary, benefits and pension only (see table below) Base (last known salary) £’000
Benefits (as in single figure table) £’000
Pension (8% of salary) £’000
562 383
48 21
45 31
Nick Wilkinson Laura Carr Performance level
Fixed pay
Annual Bonus
LTIP
M INIMUM (P E R F O R M AN C E B ELOW T HRES H O L D )
As above
Nil
Nil
I N LINE WIT H E X P ECTAT ION S
As above
40% of shares under share bonus award vest, with the value calculated by reference to the share price used to determine the grant (being 1189p).
50% of the LTIP award (i.e. 100% of salary for Nick Wilkinson and 90% of salary for Laura Carr), based on face value of the award at the date of grant.
M A X IMUM P E R F O R M AN C E
As above
100% of shares under share bonus award vest, with the value calculated by reference to the share price used to determine the grant (being 1189p).
100% of the LTIP award (i.e. 200% of salary for Nick Wilkinson and 180% of salary for Laura Carr), based on face value of the award at the date of grant.
MA X IMUM P ERF ORMA NC E , P LU S S HA RE P RICE I N C R E AS E
As above
100% of shares under share bonus award vest, with the value calculated by reference to the share price used to determine the grant (being 1189p).
100% of the LTIP award (i.e. 200% of salary for Nick Wilkinson and 180% of salary for Laura Carr), plus an increase in the value of the LTIP of 50% across the relevant performance period to reflect possible share price appreciation.
It should be noted that the illustrative performance number is likely to be different to the actual pay that is earned by Nick Wilkinson and Laura Carr during the year as: • Actual pay will reflect company and personal performance over the relevant performance period. • We are required to show the value of the annual bonus awards based on an assumed share price, without making any assumptions for changes in the share price. • We are required to show the value of the LTIP awards that are expected to be made in the year, not those which vest by reference to performance in the year. This valuation is based on the expected face value at the date of grant without making any assumptions for changes in the share price (other than as noted in relation to the final scenario). • No adjustment is made for payment of special dividend equivalents as the level of these cannot be determined at the date of this report.
Dunelm Annual Report & Accounts 2020
137
Governance & Regulatory Information
The following assumptions have been made in respect of the scenarios on the opposite page:
