HSBC 2015 Annual Report Download - page 314

Directors’ Remuneration Report (continued)
Annual report on remuneration
HSBC HOLDINGS PLC
312
payable to Mr Flockhart in relation to services provided to
HSBC. A payment of £155,503 was made to Mr Flockhart in
2015 in relation to the tax incurred in this respect and the
professional services provided by Deloitte LLP in resolving
this matter.
This report does not include details of payments made
to past Directors below the de minimis limit set by the
company of £50,000.
Total pension entitlements
(Audited)
No employees who served as executive Directors during the
year have a right to amounts under any HSBC final salary
pension schemes for their services as executive Directors
or are entitled to additional benefits in the event of early
retirement. There is no retirement age set for Directors,
but the normal retirement age for employees is 65.
Exit payments made in year
(Audited)
No payments for loss of office were made in 2015 to any
person serving as a Director in the year or any previous years.
Scheme interests awarded during 2015
(Audited)
The table below sets out the scheme interests awarded to
Directors in 2015 (for performance in 2014) as disclosed in
the 2014 Directors’ Remuneration Report. No non-executive
Directors received scheme interests during the financial year.
Scheme awards in 2015
(Audited)
Type of interest
awarded
Basis on which
award made
Dates of
award
Face value
awarded1
£000
Percentage
receivable
for minimum
performance2
Number of
shares
awarded
Share price
on date
of grant1
End of
performance
period
Stuart Gulliver Deferred cash Annual incentive 2014 2 Mar 2015 387
–
n/a n/a 31 Dec 2014
Stuart Gulliver Deferred shares Annual incentive 2014 2 Mar 2015 387
–
67,016 £5.773 31 Dec 2014
Stuart Gulliver Deferred shares GPSP 2014 2 Mar 2015 2,112
–
365,864 £5.773 31 Dec 2014
Iain Mackay Deferred cash Annual incentive 2014 2 Mar 2015 260
–
n/a n/a 31 Dec 2014
Iain Mackay Deferred shares Annual incentive 2014 2 Mar 2015 260
–
45,037 £5.773 31 Dec 2014
Iain Mackay Deferred shares GPSP 2014 2 Mar 2015 1,131
–
195,969 £5.773 31 Dec 2014
Marc Moses Deferred cash Annual incentive 2014 2 Mar 2015 310
–
n/a n/a 31 Dec 2014
Marc Moses Deferred shares Annual incentive 2014 2 Mar 2015 310
–
53,698 £5.773 31 Dec 2014
Marc Moses Deferred shares GPSP 2014 2 Mar 2015 1,131
–
195,969 £5.773 31 Dec 2014
GPSP awards made based on performance up to the financial year-end preceding the grant date with no further performance conditions after grant.
Vesting occurs five years after grant date and is normally subject to the Director remaining an employee on the vesting date. Any shares (net of tax)
which the director becomes entitled to on the vesting date are subject to a retention requirement.
The above table does not include details of shares issued as part of the Fixed Pay Allowances, as those shares vest immediately and are not subject to any
service or performance conditions.
1 Share price used is the closing mid-market price on the last working day preceding the date of grant.
2 Awards determined based on performance achieved during the period to 31 December 2014. The overall award level could have been 0% of the
maximum opportunity if minimum performance was achieved for the period to 31 December 2014. After grant, awards are subject to service condition
and malus provisions.
Summary of performance
HSBC TSR and FTSE 100 Index
The graph shows the TSR performance against the FTSE 100
Index for the seven-year period that ended on 31 December
2015. The FTSE 100 Index has been chosen as this is a
recognised broad equity market index of which HSBC
Holdings is a member.
Source: Datastream
60%
100%
140%
180%
220%
Dec 2008 Dec 2009 Dec 2010 Dec 2011 Dec 2012 Dec 2013 Dec 2014 Dec 2015
HSBC FTSE 100