Page 22 - NZPM Annual Report 2020

REMUNERATION OF EMPLOYEES EXECUTIVE REMUNERATION

The number of employees or former employees of The NZPM Group executive team is comprised of
NZPM Group, not being directors of the company, the General Managers of both Metrix and Plumbing
who, during the year ended 31 March 2020 received World and the Chief Financial Officer of NZPM Group.
remuneration and any other benefits in their capacity Remuneration of each executive is determined by
as employees, the value of which was or exceeded the board taking into consideration the scope and
$100,000 per annum is shown on the following table. complexity of each position, and is reviewed on an
annual basis using a specialist independent adviser.
Remuneration Bracket
Each executive’s remuneration package comprises a
$100,001–$110,000 21 total fixed remuneration (TFR) component, an at-risk
$110,001–$120,000 18 short-term incentive (STI) component and an at-risk
$120,001–$130,000 5 long-term incentive (LTI) component.
$130,001–$140,000 4 The STI component is set and assessed annually at
$140,001–$150,000 4 the board’s discretion and is designed to reward each
executive for delivering NZPM’s near-term business
$150,001–$160,000 3
objectives and the successful execution of key strategic
$160,001–$170,000 2 initiatives for the respective financial year.
$170,001–$180,000 3
The LTI component is designed to reward executives for
$180,001–$190,000 1
delivering performance and outcomes consistent with
$190,001–$200,000 2 NZPM’s long-term strategic goals. LTI allocations are
$210,001–$220,000 1 made annually at the board’s discretion and measured
over a rolling three-year period.
$220,001–$230,000 1
$240,001–$250,000 2
$280,001–$290,000 1
$470,001–$480,000 1
$730,001–$740,000 1

TOTAL EXECUTIVE 2019 977 375 104
REMUNERATION
PAID ($’000) 2020 1030 361 107

COMPOSITION 13% 13%
OF THE TOTAL
AVAILABLE
24% 2019 23% 2020
REMUNERATION 63% 64%
FOR THE EXECUTIVE
TEAM (%)

20
NZPM GROUP LIMITED ANNUAL REPORT 2020