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LONDON - JD Sports Fashion Plc (LSE:LON:JD) issued a clarification Thursday regarding an omission in its proposed directors’ remuneration policy due to a printing error in its Annual Report and Accounts for the year ended February 1, 2025.
The company noted that a table was missing from the "Approach to recruitment remuneration" section on page 124 of the report. The omitted table outlines the elements of remuneration that would be considered when appointing a new executive director.
According to the clarified policy, new executive directors would be eligible for annual bonuses up to 200% of their base salary and could participate in the Long Term Incentive Plan (LTIP) with annual grants worth up to 300% of salary.
The policy also details provisions for buy-out awards to compensate executives for forfeited awards from previous employment, reasonable relocation expenses, and in "exceptional recruitment circumstances," a one-off share award of up to 200% of salary in addition to normal LTIP awards.
For internal promotions to the board, the policy states that any commitments made before promotion will continue to be honored even if they don’t align with the current remuneration policy.
The complete directors’ remuneration policy will be presented for shareholder approval at the company’s Annual General Meeting scheduled for July 2, 2025.
This clarification was issued through a regulatory news service announcement based on a company press release statement.
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