Financial statements
NOTES TO THE FINANCIAL STATEMENTS
13. Directors' emoluments
|
2010 |
2009 |
|
|
Salary |
789 |
789 |
|
Performance related bonus payable |
331 |
222 |
|
Share-based payment |
452 |
467 |
|
Other emoluments |
63 |
65 |
|
Total emoluments |
1,635 |
1,543 |
The above total for salaries include £25,000 in each year reported for Mr A. Fletcher, a non executive director.
The performance related payment represents the cash element. In addition Directors receive a conditional award for shares for a matching amount which is subject to a future service criterion.
The cost of share-based payments represents the amount charged to the income statement, as described on the 'Share capital' page.
The aggregate gains on vesting of Directors' share-based awards amounted to a total of £319,000 (2009 £547,000).
Other emoluments include car benefit and health care.
At 31 March 2010 retirement benefits were accruing to four Directors under defined benefit pension schemes (2009 four).
During the year, four Directors exercised options under the Pennon Group Plc executive reward schemes (2009 four).
The emoluments of the highest paid director were:
|
2010 |
2009 |
|
|
Total amount of emoluments and amounts (excluding shares) receivable under long-term incentive schemes |
406 |
346 |
|
Accrued pension at end of year |
117 |
110 |
The Chairman, Mr K G Harvey, is a Director of Pennon Group Plc and his remuneration is disclosed in the financial statements of that company.