Page 47 - Integrated Annual Report

REMUNERATION IMPLEMENTATION REPORT
Principle 2.26 recommends that the remuneration of each individual director and the three most highly paid employees who are not directors in the company be disclosed. The remuneration report discloses the remuneration of the three most highly paid employees, however the names of the employees have not been disclosed as the board
* IFRS2 share-based payment expense
HCI EMPLOYEE SHARE OPTION SCHEME
The group operates a share option scheme, The HCI Employee Share Scheme (the Scheme), in terms of which shares in the group are offered on a share option basis to participants, provided they remain in the group’s employ until the options vest. Any gain realised on the exercise of these options is settled on a net equity basis, whereby
Share options granted to eligible participants that have not yet become unconditional:
Balance at the beginning of the year Options granted
Options that became unconditional Options forfeited
Balance at the end of the year
is of the opinion that such information is private to the individuals concerned and adds no value to stakeholders.
Details of remuneration of the three highest paid members of management, which are not directors, for the year ended 31 March 2021 is reflected below:
Basic salary R'000
Other benefits R'000
Bonus R'000
Gains on share scheme R'000 *
Total R'000
Employee A
6 430
143
-
5 850
12 423
Employee B
5 574
472
4 070
-
10 116
Employee C
4 725
-
1 242
2 904
8 871
the participant receives that number of shares that equates in value to the gain made on exercise date.
Options must be exercised within six months of the vesting date, whereafter the options lapse. Options vest over periods of three to five years. These vesting periods may be varied by the board of directors.
2021
Number of share options
2020
Weighted average exercise price RR
Weighted average exercise price
Number of share options
1 840 458
103.43
1 699 833
49.30
( 4 614)
117.03
-
-
3 535 677
77.39
1 444 068 889 356
( 441 030) ( 51 936)
1 840 458
118.14 87.71 118.83 112.54
103.43
HOSKEN CONSOLIDATED INVESTMENTS LIMITED
INTEGRATED ANNUAL REPORT 2021
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