proxy report 12/07/2018
Item 2: Approve the Remuneration Policy
The main concerns with remuneration at the company relate to disclosure of performance targets and, consequentially, the alignment of pay with performance for the annual bonus, and the payment of an excessive level of incentive pay.
However, the maximum bonus meets guidelines. Use of qualitative criteria does not exceed guidelines. Pay has a sufficiently long term orientation. Pension and benefits are not excessive. Total remuneration is not excessive.
Item 3: Approve the Remuneration Report
The structure is generally satisfactory. Disclosure of performance targets for the STI is poor, but the achievement level of both financial metrics is justified.
Land Securities Group is a real estate investment trust. Co. buys, sells, develops and manages commercial property in the U.K. Co.'s operations are organized into two operating segments, the London Portfolio and the Retail Portfolio. The London Portfolio includes all Co.'s London offices and central London shops and the Retail Portfolio includes all Co.'s shopping centers and shops (excluding central London shops), hotels and leisure assets and retail park properties.
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