The new directors’ remuneration reporting regime

For companies with a year-end of 31 December, the new remuneration reporting requirements for directors of UK-incorporated listed companies will start to kick in from 1 January 2014.

The new regime has two main components: a directors’ remuneration policy, subject to a binding shareholder vote at least every three years; and an expanded annual report on remuneration, subject to an annual advisory vote of shareholders.

Payments made under directors’ contracts entered into or modified from 27 June 2012 onwards will need to be consistent with the new policy or else separately approved by shareholders’ resolution…

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