Decision details
Remuneration of Independent Non Executive Directors Ubico Ltd
Decision Maker: Leader
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Decision:
To APPROVE the following revised remuneration package backdated to 1 April 2020:
• Independent Chair - £10,000 pa
• Independent NED - £5,500 pa
• Chair of Risk and Audit - £6,500 pa
Reasons for the decision:
Ubico’s Governance and Nominations Committee considered a report recommending a review of the renumeration package for the company’s INEDs. The review identified the following reasons for the recommended changes which were accepted by the Committee:
· Significant changes in Executive Team
· Global pandemic
· Changes in the role specification and market rates.
At the company’s Board meeting on 27th April 2021, it was resolved to accept the recommendations of the Governance and Nominations Committee to revise the remuneration of the INEDs.
Alternative options considered:
Not to revise the rates.
Publication date: 05/05/2021
Date of decision: 04/05/2021
Effective from: 12/05/2021
Accompanying Documents:
- Restricted enclosure View reasons restricted