Updates to the GC100 Directors’ Reporting Guidance for 2019

The GC100 is an industry group for general counsels and company secretaries working in FTSE 100 companies. As part of their work, they produce the “GC100 Directors’ Remuneration Reporting Guidance”.

The Guidance is a useful tool for anyone in a mid-sized or large listed company who has to produce a Directors’ Remuneration Report. Despite a substantial revision in 2018, there have been further changes in 2019 – following to the introduction into UK law of the Shareholder Rights Directive (SRD II).

Key changes to the guidance include:

• Extension of coverage to include those considered to be CEO or Deputy CEO, even where they are not appointed as directors (paragraph 2.1).

• Regulatory definitions for the employee comparator group and directors that are required when calculating percentage change in pay (paragraph 3.8).

• Discussion of the measures which may be taken to avoid or manage conflicts of interest in relation to determination, review and implementation of the remuneration policy (paragraph 4.2).

For further information or to discuss any questions you may have, please contact Stuart James.

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