Investor Presentaiton
94
Remuneration Report
5 KMP statutory disclosures
KMP statutory disclosure
5
LO
95
Annual Report 2023
Woolworths Group
The table below sets out the remuneration of executive KMP of Woolworths Group Limited. Amounts represent the payments
relating to the period during which the individuals were KMP.
5.1
KMP remuneration (continued)
4
The table below sets out the remuneration of non-executive directors of Woolworths Group Limited. Amounts represent the
payments relating to the period during which the individuals were KMP.
SHORT-TERM BENEFITS
SHORT-TERM BENEFITS
SHARE-BASED PAYMENTS 6
CASH
SALARY¹
INCENTIVE 2
$
$
NON-
MONETARY
AND OTHER
BENEFITS 3
$
POST
OTHER
LONG-
EMPLOYMENT
BENEFITS 4
$
TERM
BENEFITS 5
$
EQUITY
GRANTS
AT RISK7
$
OTHER
EQUITY
GRANTS 8
TOTAL
$
1
NON-MONETARY
DIRECTOR FEES
FEES SACRIFICED
UNDER NEDP 1
AND OTHER
BENEFITS 2
POST EMPLOYMENT
BENEFITS 3
TOTAL
$
$
$
$
Executive KMP
BL Banducci F23 2,561,222 1,193,010
3,905
27,500
Non-executive directors
SR Perkins 4
F23
684,244
3,905
F22
363,296
4,734
W Bray 5
F23
87,816
10,385
1,255
23,568
8,431
688,149
391,598
A Bardwell
MN Brenner
F23
349,301
3,905
25,292
107,887
378,498
N Davis
F22 2,633,419
F23 969,722
F22 932,202
F23 1,037,622
F22
766,627
4,734
27,500
36,160
36,490
2,650,623 1,239,075 7,711,495
3,227,557 861,130 7,557,457
highlights
Performance
471,818
300,967
471,818
3,905
97,841
47,767
1,041,036
460,180 3,092,269
4,734
85,273
60,158
3,905
27,500
F22
330,796
4,734
23,568
359,098
S Harrison F23
947,280
933,365
294,850
4,734
27,500
JC Carr-Smith 6
F23
174,990
174,998
12,141
362,129
F22
887,665
393,015
263,985
3,905
4,734
27,500
27,500
26,583
13,785
25,394
12,708
1,047,193
970,204
931,687
945,385
1,018,755
428,321 2,965,953
283,488 2,503,324
312,095 2,742,622
2
400,840 2,729,404
270,978 2,486,325
F22
241,864
100,013
4,734
346,611
PW Chronican7
F23
349,738
3,905
25,292
F22
259,881
3,499
5,892
378,935
269,272
T Fellows 8
F23
87,399
1,255
8,431
HS Kramer
F23
261,758
65,433
3,905
25,292
97,085
356,388
F22
264,637
66,162
4,734
23,568
359,101
K A Tesija 6
F23
369,990
12,141
382,131
F22
341,864
4,734
GM Cairns 4
F23
255,820
1,309
8,431
346,598
265,560
F22
768,837
4,734
23,568
SL McKenna 9
F23
F22
106,776
330,796
1,309
6,323
4,734
23,568
359,098
797,139
114,408
1 Salary includes the net change in accrued annual leave within the period and a car allowance.
2 Cash incentive represents the cash component of the F23 STI, which was 50% of the total STI award. The remaining 50% is deferred
as share rights for two years.
3 Non-monetary and other benefits include the deemed premium in respect of the Directors' and Officers' Indemnity insurance and,
where applicable, relocation benefits and associated fringe benefits tax.
4 Post employment benefits represent superannuation paid directly to the executive KMP's nominated superannuation fund. If the Group
is not required to pay superannuation, the payment may be made as cash and included in salary.
5 Other long-term benefits represents the net change in accrued long service leave within the period.
6 Share-based payments represent the portion of the fair value of share rights expected to vest and is recognised as an expense over
the vesting period. The amount recognised is adjusted to reflect the expected number of instruments that will vest for non-market
based performance conditions, including ROFE, sales per square metre and reputation. The reputation non-market based performance
condition is applicable to the F22 and F23 LTI plans, and measures brand reputation across four key metrics. No adjustment for non-vesting
is made for failure to achieve the relative TSR performance hurdle, as this is taken into account in the fair value atgrant date.
7 For equity grants at risk, the fair value of share rights subject to the relative TSR performance measure is calculated at the date of grant
using a Monte Carlo simulation model, whilst the fair value of other share rights is calculated using a Black-Scholes option pricing model.
8 Other equity grants are grants which are not subject to any further performance conditions except continuous employment, subject
to the operation of the Group's malus policy.
3
Report
Directors'
Business
review
5.1
KMP remuneration
1 Fees sacrificed under NEDP represent non-executive directors' fees sacrificed in the current period to purchase share rights under
the NEDP plus amounts sacrificed in previous periods but used to purchase share rights in the current period. Refer to Section 4.3
for further details.
2 Non-monetary and other benefits include the deemed premium in respect of the Directors' and Officers' Indemnity insurance and,
where applicable, travel benefits and associated fringe benefits tax.
3 Post employment benefits represent superannuation paid directly to the non-executive director's nominated superannuation fund.
If the Group is not required to pay superannuation, the payment may be made as cash and included in director fees.
4 Mr Perkins was appointed as Chair, following the retirement of Mr Cairns as Chair, on 26 October 2022.
5 Mr Bray was appointed as a non-executive director on 1 March 2023.
6 Ms Carr-Smith's and Ms Tesija's director fees include an overseas director's allowance of $10,000 per eligible flight taken during the
current and prior period.
7 During F22, Mr Chronican was appointed as a non-executive director on 1 October 2021.
8 Ms Fellows was appointed as a non-executive director on 1 March 2023.
9 Ms McKenna ceased being a non-executive director on 26 October 2022.
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