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BT.A Bt Group Plc

103.60
-0.90 (-0.86%)
Last Updated: 12:00:46
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Bt Group Plc LSE:BT.A London Ordinary Share GB0030913577 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.90 -0.86% 103.60 103.50 103.60 104.70 103.60 104.35 6,846,700 12:00:46
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Phone Comm Ex Radiotelephone 20.92B 1.91B 0.1916 5.43 10.34B

BT Group PLC Confirmation of 2020 long-term incentive awards (6705Q)

22/06/2020 11:40am

UK Regulatory


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RNS Number : 6705Q

BT Group PLC

22 June 2020

22 June 2020

BT Group plc

Confirmation of Directors' 2020 long-term incentive awards

Subject to shareholder approval at the Annual General Meeting 2020 of the new Directors' Remuneration Policy ("Policy") and the new Restricted Share Plan ("RSP"), the BT Remuneration Committee ("Committee") will grant the first RSP award for executive directors in August 2020 at a reduced level.

Under the new Policy, RSP awards will normally be granted at 200% of salary. In the Report on Directors' Remuneration in the Annual Report 2020 published on 21 May 2020, it was stated that the Committee would make a decision on the size of the first RSP award closer to the grant date but this would not exceed 175% of salary. It was further advised that in determining the award level of the first RSP award, the Committee would consider BT's share price performance and feedback from consultations with some of our largest shareholders.

We are pleased to advise that the majority of shareholders we have consulted are supportive of the new Policy and the move to the RSP as our long-term incentive plan. Following this consultation, and taking into account BT's share price performance over the last 12 months and the Board's decision to suspend and re-base future dividends, the Committee has determined that the first RSP award will be granted at 160% of salary for executive directors. In addition to reducing the size of the award granted, the Committee will also look at the vesting outcomes of the first RSP award to assess whether any "windfall gains" have been realised as a result of any Covid-19 "bounce back".

We will make the required announcement confirming the RSP award grants in early August 2020.

ENDS

Enquires

 
 Press office: 
 Tom Engel             Tel: +44 7947 711 959 
 Richard Farnsworth    Tel: +44 7734 776 317 
 
 Investor relations: 
 Mark Lidiard          Tel: 020 7356 4909 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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(END) Dow Jones Newswires

June 22, 2020 06:40 ET (10:40 GMT)

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