Proposed Share Award Conditionality

RNS Number : 6183X

Standard Life Aberdeen plc

30 April 2019

 

Standard Life Aberdeen plc

Proposed Share Award conditionality

Standard Life Aberdeen plc ('the Company') announces that, further to the information disclosed on 13 March 2019 regarding the proposed Deferred Share Plan award to Stephanie Bruce, the Company's intended successor Chief Financial Officer, the Remuneration Committee ('the Committee') has agreed that a performance condition should be applied to the award.  The condition is aligned to a measure of corporate performance over which Stephanie herself will have material influence.

The Company has previously disclosed efficiency targets of at least £350m to be achieved by the end of 2020.  £230m of benefits are yet to be realised.  The Committee has set a baseline of £175m (approximately 75% of the residual targeted saving) for the purpose of Stephanie's award, at which point two-thirds of the award will vest.  The full award will vest if the residual £230m of savings have been achieved over the period of the award.  The Committee believes these savings targets to be challenging, ambitious and stretching, and also central to the Company's strategic transformation.

30 April 2019

Enquiries
Media: Katy Hetherington James Thorneley	[phone]* [phone] [phone] [phone]
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LEI number of Standard Life Aberdeen plc: 0TMBS544NMO7GLCE7H90

Classification: 3.1. Additional regulated information required to be disclosed under the laws of a Member State

 

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