Sept 19 (Reuters) - National Australia Bank Ltd (NAB) :
- NAB INTRODUCES SIMPLER EXECUTIVE REMUNERATION FRAMEWORK
- NEW FRAMEWORK WILL APPLY TO CURRENT 2018 FINANCIAL YEAR AND TO FUTURE YEARS
- BOARD WILL DETERMINE ACTUAL INDIVIDUAL EXECUTIVE OUTCOMES FOR FINANCIAL YEAR 2018 BASED ON NEW FRAMEWORK
- TOTAL CEO REWARD FOR THIS YEAR, AT TARGET LEVELS, IS REDUCED BY APPROXIMATELY 11 PER CENT
- CEO'S "AT TARGET" TOTAL REWARD IS $7.94 MILLION, WHICH IS $1.05 MILLION LESS THAN IN 2017
- CEO'S ACTUAL VARIABLE REWARD WILL BE BETWEEN 0 & 300 % OF FIXED REMUNERATION, DEPENDING ON BUSINESS & INDIVIDUAL PERFORMANCE
- DURING DEFERRAL PERIOD, EXECUTIVES WILL ALSO RECEIVE ANY DIVIDENDS PAID ON DEFERRED SHARES
- GROSS VALUE OF ILLUSTRATIVE DIVIDENDS IS BASED ON A SHARE PRICE OF $30 & DIVIDEND OF 99 CENTS FOR ILLUSTRATIVE PURPOSES ONLY
- AGGREGATE 2018 EXECUTIVE LEADERSHIP TEAM TOTAL REWARD AT TARGET LEVELS (INCLUDING CEO) REDUCED BY ABOUT 15 PERCENT COMPARED TO PRIOR YEAR
News: NAB NAB Says Total CEO Reward For This Year, At Target Levels,Reduced By 11%
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