Table of directors’ emoluments for the year ended 30 September 2020
Tiger Brands Limited | |||||||
(R’000) | Fees | Cash salary |
Bonus | Other benefits |
Retirement fund contributions |
Gains on options exercised |
Total 2020 |
Executive directors | |||||||
LC Mac Dougall1 | – | 3 094 | – | 55 | 109 | 387 | 3 645 |
NP Doyle2 | – | 6 996 | – | – | 1 270 | 736 | 9 002 |
Total A | – | 10 090 | – | 55 | 1 379 | 1 123 | 12 647 |
Non-executive directors** | EFs* | ||||||
CH Fernandez | 936 | – | – | – | – | – | 936 |
DG Wilson | 695 | – | – | – | – | – | 695 |
GA Klintworth | 1 174 | – | – | – | – | – | 1 174 |
KDK Mokhele (chairman) | 1 877 | – | – | – | – | – | 1 877 |
M Makanjee | 760 | – | – | – | – | – | 760 |
MJ Bowman | 650 | – | – | – | – | – | 650 |
MO Ajukwu | 1 280 | – | – | – | – | – | 1 280 |
MP Nyama | 650 | – | – | – | – | – | 650 |
TE Mashilwane | 890 | – | – | – | – | – | 890 |
GJ Fraser-Moleketi3 | 109 | – | – | – | – | – | 109 |
M Sello4 | 475 | – | – | – | – | – | 475 |
MP Fandeso5 | 310 | – | – | – | – | – | 310 |
I Burton6 | 109 | – | – | – | – | – | 109 |
OM Weber7 | 250 | – | – | – | – | – | 250 |
Total B | 10 165 | – | – | – | – | – | 10 165 |
Total A + B | 10 165 | 10 090 | – | 55 | 1 379 | 1 123 | 22 812 |
Aggregated details of remuneration paid to members of the executive committee, excluding executive directors above, are set out hereunder | |||||||
Total | – | 41 896 | 112 | 4 272 | 2 945 | 454 | 49 679 |
1 | LC Mac Dougall retired on 31 January 2020. |
2 | NP Doyle appointed as chief executive officer on 1 February 2020. |
3 | GJ Fraser-Moleketi appointed on 1 September 2020. |
4 | M Sello appointed on 1 October 2019. |
5 | MP Fandeso resigned on 28 February 2020. |
6 | I Burton appointed on 3 August 2020. |
7 | OM Weber appointed on 3 August 2020. |
* | EFs – Fees paid to non-executive directors in respect of their attendance at special board meetings of the company. |
** | The fees to non-executive directors exclude VAT. |
# | The gains on options exercised were derived from bonus matching shares, deferred bonus shares and company matching shares granted in 2017 which vested and was settled in 2020. |
Table of directors’ emoluments for the year ended 30 September 2019
Group | |||||||
(R’000) | Fees | Cash salary |
Bonus | Other benefits |
Retirement fund contributions |
Gains on options exercised |
Total 2019 |
Executive directors | |||||||
LC Mac Dougall | – | 8 973 | – | 160 | 329 | – | 9 462 |
NP Doyle | – | 5 832 | – | 30 | 961 | 4 446 | 11 269 |
Total A | – | 14 805 | – | 190 | 1 290 | 4 446 | 20 731 |
Non-executive directors** | EFs* | ||||||
CH Fernandez1 | 434 | – | 434 | ||||
DG Wilson2 | 196 | – | 196 | ||||
GA Klintworth | 1 103 | – | – | – | – | – | 1 103 |
KDK Mokhele (chairman) | 1 918 | – | – | – | – | – | 1 918 |
M Makanjee | 723 | – | – | – | – | – | 723 |
MJ Bowman | 806 | – | – | – | – | – | 806 |
MO Ajukwu | 1 531 | – | – | – | – | – | 1 531 |
MP Fandeso3 | 127 | – | 127 | ||||
MP Nyama | 649 | – | – | – | – | – | 649 |
TE Mashilwane | 890 | 8 | 898 | ||||
YGH Suleman4 | 224 | 8 | – | – | – | – | 232 |
Total B | 8 601 | 16 | – | – | – | – | 8 617 |
Total A + B | 8 601 | 14 821 | – | 190 | 1 290 | 4 446 | 29 348 |
Details of remuneration paid to prescribed officers of the company are set out hereunder | |||||||
PW Spies | – | 4 354 | – | 364 | 339 | – | 5 057 |
Y Maharaj | – | 4 347 | – | 366 | 339 | – | 5 052 |
PD Sithole | – | 4 547 | – | 120 | 339 | 1 674 | 6 680 |
Total | – | 13 248 | – | 850 | 1 017 | 1 674 | 16 789 |
Aggregated details of remuneration paid to members (eight) of the executive committee, excluding executive directors and prescribed officers above, are set out hereunder | |||||||
Total | – | 23 952 | 106 | 3 549 | 2 181 | 1 429 | 31 217 |
1 | CH Fernandez appointed on 1 March 2019. |
2 | DG Wilson appointed on 1 June 2019. |
3 | MP Fandeso appointed on 1 July 2019. |
4 | YGH Suleman resigned on 22 November 2018. |
* | EFs – Fees paid to non-executive directors in respect of their attendance at special board meetings of the company. |
** | The fees to non-executive directors exclude VAT. |
Tiger Brands Limited 2013 Share Plan
Executive directors
Details of share appreciation rights allocated to executive directors under this plan at 30 September 2020 are set out below:
Name | Date of grant | Holding at 1 October 2019 |
Granted 2020 |
Forfeited 2020 |
Holding at 30 September 2020 |
Number of options vested at 30 September 2020 |
Number of options subject to performance targets and retention |
Grant price (Rand) |
Fair market value of vested options at 30 September 2020 R’000 |
|
NP Doyle | December 2018 | 56 688 | – | – | 56 688 | – | 56 688 | 254,8 | – | |
---|---|---|---|---|---|---|---|---|---|---|
December 2017 | 49 298 | – | – | 49 298 | – | 49 298 | 385,3 | – | ||
December 2016 | 36 336 | – | 12 112 | 24 224 | – | 24 224 | 368,1 | – | ||
February 2016 | 16 401 | – | 8 200 | 8 201 | – | 8 201 | 271,2 | – | ||
February 2015 | 5 255 | – | 4 138 | 1 117 | 1 117 | – | 358,2 | – | ||
February 2014 | 9 518 | – | 9 518 | – | – | – | 236,6 | – | ||
February 2014 | 3 857 | – | 3 857 | – | – | – | 236,6 | – | ||
Total | 177 353 | – | 37 825 | 139 528 | 1 117 | 138 411 | ||||
LC Mac Dougall* | December 2018 | 61 764 | – | – | 61 764 | – | 61 764 | 254,8 | – | |
December 2017 | 9 671 | – | – | 9 671 | – | 9 671 | 385,3 | – | ||
December 2016 | 35 325 | – | 11 774 | 23 551 | – | 23 551 | 368,1 | – | ||
May 2016 | 25 816 | – | 12 908 | 12 908 | – | 12 908 | 317,6 | – | ||
Total | 132 576 | – | 24 682 | 107 894 | – | 107 894 |
* Retired on 31 January 2020.
Details of performance shares awarded to executive directors under the Tiger Brands Limited 2013 Share Plan as at 30 September 2020 appear below:
Name | Date of grant | Holding at 1 October 2019 |
Granted 2020 |
Options received/ forfeited as result of performance conditions achieved/ not achieved |
Exercised 2020 |
Holding at 30 September 2020 |
Number of options vested as at 30 September 2020 |
Number of options subject to performance targets and retention |
10-day VWAP share price on grant date (Rand) |
|
NP Doyle | September 2020 | – | 65 880 | – | – | 65 880 | – | 65 880 | 178,2 | |
---|---|---|---|---|---|---|---|---|---|---|
Total | – | 65 880 | – | – | 65 880 | 65 880 |
Details of restricted shares granted to executive directors under the Tiger Brands Limited 2013 Share Plan as at 30 September 2020 appear below:
Name | Date of grant | Holding at 1 October 2019 |
Granted 2020 |
Exercised 2020 |
Forfeited 2020 |
Holding at 30 September 2020 |
Number of options vested as at 30 September 2020 |
10-day VWAP share price on grant date (Rand) |
|
NP Doyle | December 2016 | 3 990 | 3 990 | – | – | 396,0 | |||
---|---|---|---|---|---|---|---|---|---|
Total | 3 990 | – | 3 990 | – | – | ||||
LC Mac Dougall* | December 2016 | 2 097 | – | 2 097 | – | – | 396,0 | ||
Total | 2 097 | – | 2 097 | – | – |
* Retired on 31 January 2020.
Executive committee members (excluding executive directors)
Aggregated details of share appreciation rights allocated to members of the executive committee, other than executive directors above, as at 30 September 2020, are set out below:
Total for the financial year | Date of grant | Holding at 1 October 2019 |
Granted 2020 |
Exercised 2020 |
Forfeited 2020 |
Holding at 30 September 2020 |
Number of options vested at 30 September 2020 |
Number of options subject to performance targets and retention |
Grant price (Rand) |
Fair market value of vested options at 30 September 2020 R’000 |
|
2019 | December 2018 | 313 386 | – | – | 66 025 | 247 361 | – | 247 361 | 254,8 | – | |
---|---|---|---|---|---|---|---|---|---|---|---|
2018 | December 2017 | 73 187 | – | – | 45 027 | 28 160 | – | 28 160 | 385,3 | – | |
2017 | September 2017 | 14 094 | – | – | 14 094 | – | – | – | 403,6 | – | |
2017 | December 2016 | 46 564 | – | – | 24 153 | 22 411 | – | 22 411 | 368,1 | – | |
2016 | February 2016 | 19 788 | – | – | 13 764 | 6 097 | – | 6 097 | 271,2 | – | |
2015 | February 2015 | 11 008 | – | – | 9 363 | 1 605 | 1 645 | – | 358,2 | – | |
2014 | February 2014 | 35 398 | – | – | 35 398 | – | – | – | 236,6 | – |
Aggregated details of performance shares awarded to members of the executive committee, other than executive directors above, as at 30 September 2020, are set out below:
Total for the financial year | Date of grant | Holding at 1 October 2019 |
Granted 2020 |
Options received/ forfeited as result of performance conditions achieved/ not achieved |
Forfeited 2020 |
Exercised 2020 |
Holding at 30 September 2020 |
Number of options vested as at 30 September 2020 |
Number of options subject to performance targets and retention |
10-day VWAP share price on grant date (Rand) |
|
2020 | March 2020 | – | 47 220 | – | – | – | 47 220 | – | 47 220 | 172,4 | |
---|---|---|---|---|---|---|---|---|---|---|---|
2020 | September 2020 | – | 150 450 | – | – | – | 150 450 | – | 150 450 | 178,2 |
Aggregated details of restricted shares granted to members of the executive committee, other than executive directors above, as at 30 September 2020, are set out below:
Total for the financial year | Date of grant | Holding at 1 October 2019 |
Granted 2020 |
Exercised 2020 |
Forfeited 2020 |
Holding at 30 September 2020 |
Number of options vested as at 30 September 2020 |
Number of options subject to performance targets and retention |
10-day VWAP share price on grant date (Rand) |
|
2020 | – | 42 081 | – | – | 42 081 | – | 42 081 | 178,2 | ||
---|---|---|---|---|---|---|---|---|---|---|
2018 | Various | 4 647 | – | – | – | 4 647 | – | 4 647 | 414,5 | |
2017 | Various | 16 609 | 2 318 | 12 279 | 2 012 | – | 2 012 | 414,5 | ||
2016 | Various | 1 065 | 1 065 | – | – | – | – | 396,0 |