A month ago, COVID-19 remuneration adjustments had all but dried up for ASX 200 companies. Some thought that would be the end of it, at least until September 2020.
They were wrong.
Pay adjustments have returned, with some being announced in remuneration reports.
We will resume collating of ASX-listed company announcements on COVID-19 related remuneration adjustments, and maintaining them in the continuously updated database found HERE.
Table 1 showcases some of the remuneration adjustments being applied to executive key management personnel (KMP) and non-executive directors (NEDs) since the 13th of July.
TFR refers to total fixed remuneration, STI refers to short-term incentive, LTI refers to long-term incentive and ND refers to not disclosed.
Table 1: ASX200 companies remuneration adjustments since early July
* The new information for the Scentre Group remuneration adjustment was the adjustment end date.
** The new information for Credit Corp Group Limited pertains to the FY 2019 – FY 2021 LTI which has been cancelled before the end of the performance period. As a retention concern due to no STI or LTI vesting for FY20, they have decided to increase both the FY 2020 – FY 2022 and FY 2021 – FY 2023 LTI grants by 50%.
Statistical analysis conducted earlier on COVID 19 announcements is found HERE. Other methods to help companies conserve cash and to keep people employed are found HERE.
As Guerdon Associates continues to monitor ASX200 companies for remuneration adjustments, statistical analyses will be provided in forthcoming articles linked to our monthly GuerdonNews® summary.© Guerdon Associates 2023 Back to all articles