Annual Report & Accounts 2026
31
OUR GOVERNANCE
REPORT OF THE REMUNERATION COMMITTEE
OVERVIEW
The Remuneration Committee is chaired by Isabel Napper with Robin Williams and Salar Farzad as its other members. The CEO and Finance Director may also attend meetings by invitation of the Committee, although neither is involved in deciding their own remuneration.
The Committee considers the performance of the Executive Directors and makes recommendations to the Board on matters regarding their remuneration and terms of service. As part of that process, the Committee sets the scale and structure of the Executive Directors’ remuneration package, including share-based payments having regard to best practice, corporate governance and the interests of shareholders. It is also responsible for the review and management of the Group’s share-based incentive scheme.
The Remuneration Committee meets at least twice each year. The Committee has regard to the recommendations put forward in the QCA Code and the QCA Remuneration Committee Guide and associated guidance. MEETINGS
During the year, the Committee met on two occasions and, on both occasions, all members of the Committee were present.
DIRECTORS’ REMUNERATION SUMMARY (AUDITED)
The remuneration of the Directors is set out in the table below:
£’000
Salary & Fees Value(1) of shares received under LTIP
Pension
Total 2026
Salary & Fees Value (1) of shares received under LTIP
Pension
Total 2026
James Knight
368
–
10
378
357
–
10
367
Ashley Miller
224
97
11
332
212
113
10
335
Robin Williams
81
–
–
81
78
–
–
78
Isabel Napper
49
–
–
49
47
–
–
47
Salar Farzad
49
–
–
49
47
–
–
47
771
97
21
889
741
113
20
874
(1) Value of shares being the market value of shares on day of vesting, less the nominal value of the vested shares which the recipient has paid.
During the year, the share awards granted in June 2022 vested. James Knight does not participate in the LTIP scheme as the Committee believes that the level of his shareholding already ensures alignment of his interests with those of the broader shareholder body.
ISABEL NAPPER
Chair, Remuneration Committee
OUR GOVERNANCE
REPORT OF THE REMUNERATION COMMITTEE
OVERVIEW
The Remuneration Committee is chaired by Isabel Napper with Robin Williams and Salar Farzad as its other members. The CEO and Finance Director may also attend meetings by invitation of the Committee, although neither is involved in deciding their own remuneration.
The Committee considers the performance of the Executive Directors and makes recommendations to the Board on matters regarding their remuneration and terms of service. As part of that process, the Committee sets the scale and structure of the Executive Directors’ remuneration package, including share-based payments having regard to best practice, corporate governance and the interests of shareholders. It is also responsible for the review and management of the Group’s share-based incentive scheme.
The Remuneration Committee meets at least twice each year. The Committee has regard to the recommendations put forward in the QCA Code and the QCA Remuneration Committee Guide and associated guidance. MEETINGS
During the year, the Committee met on two occasions and, on both occasions, all members of the Committee were present.
DIRECTORS’ REMUNERATION SUMMARY (AUDITED)
The remuneration of the Directors is set out in the table below:
£’000
Salary & Fees Value(1) of shares received under LTIP
Pension
Total 2026
Salary & Fees Value (1) of shares received under LTIP
Pension
Total 2026
James Knight
368
–
10
378
357
–
10
367
Ashley Miller
224
97
11
332
212
113
10
335
Robin Williams
81
–
–
81
78
–
–
78
Isabel Napper
49
–
–
49
47
–
–
47
Salar Farzad
49
–
–
49
47
–
–
47
771
97
21
889
741
113
20
874
(1) Value of shares being the market value of shares on day of vesting, less the nominal value of the vested shares which the recipient has paid.
During the year, the share awards granted in June 2022 vested. James Knight does not participate in the LTIP scheme as the Committee believes that the level of his shareholding already ensures alignment of his interests with those of the broader shareholder body.
ISABEL NAPPER
Chair, Remuneration Committee