BUILDING LANDMARKS, CHARTING GROWTH
135
Annual Report 2015
The aggregate remuneration paid to the top six key
management personnel of the Company (excluding the
CEO) for the Period was S$3,088,528.27.
In the Period, there were no termination, retirement or
post-employment benefits granted to Directors, the
CEO and key management personnel. There were also
no special retirement plan, ‘golden parachute’ or
special severance packages given to the key
management personnel.
Guideline 9.4: Remuneration of related employees
The Company does not have any employee who is an
immediate family member of a Director or the CEO for
the Period. “Immediate family member” refers to the
spouse, child, adopted child, step-child, sibling or parent.
Guideline 9.5: Employee shares scheme
Details on the Perennial Employee Share Option
Scheme 2014 can be found in the Directors’
Statement from pages 180 to 182 and in the Notes to
Financial Statements from pages 228 to 230.
Guideline9.6: Disclosureon linkbetweenperformance
and remuneration
The RC ensures that the remuneration structure is
strongly linked to the achievement of corporate and
individual performance targets while maintaining high
flexibility and responsiveness to the market conditions
and Perennial’s performance. The performance targets
as determined by the RC each year are set at realistic
yet enhanced levels to motivate a high degree of
performance with emphasis on both short and
long-term objectives.
In relation to the key management personnel, the
Company noted that the Code recommends that at least
the top five key management personnel's remuneration
be disclosed. After careful consideration, the Board
believes that such disclosure would be disadvantageous
to Perennial's business interests, taking into
consideration the competitive pressures in the talent
market. The Company believes that in view of the
competitive human resource environment and to support
the Company's effort in attracting and retaining executive
Note 1:
The above remuneration bands exclude the grant of share options to staff under the Perennial Employee Share Option Scheme 2014. The Share Plan was
approved by the Shareholders at an Extraordinary General Meeting held in October 2014 and is administered by the RC.
Share Options were granted during the year, to be vested from FY2016 onwards. Fair value of vested shares will be declared on their vesting in the
remuneration disclosure for FY2016, where applicable
talents, it should maintain confidentiality on employee
remuneration matters.
For these reasons, the Company is only disclosing the
remuneration in percentage terms in bands of
S$100,000 for the Period. The Board is of the opinion
that the information disclosed would be sufficient for
the Shareholders to have an adequate appreciation of
the Company's compensation policies and practices.
For the period from 28 October 2014 to 31 December 2015
Remuneration
Bands
No. of
Executives
Salary inclusive
of AWS and
employer's
CPF
Bonus and other
benefits inclusive
of employer's
CPF
Stock options
granted and other
share-based
incentives and awards
Total
%
%
%
%
S$700,000 -
S$799,000
1
62.3
37.7
Please see Note 1
100
S$500,000 -
S$599,000
2
73.3
26.7
100
S$400,000 -
S$499,000
2
77.6
22.4
100
S$300,000 -
S$399,000
1
97.5
2.5
100
