Date Approved: July 2018
Effective From: July 2018
Future Review Date: 2022
Application: This policy applies to all NZX listed companies.
Purpose: NZSA maintains a range of policies to positively influence the behaviour of all participants in the NZX listed company sector. These policies should be read in the context of the NZSA Policy Framework Statement.
This policy document dates from July 2018.
1.0 Policy: Remuneration Report
1.1 NZSA recommends that all publicly listed companies include a Remuneration Report in their Annual Report. The Report should cover all payments and entitlements to the Chief Executive Officer and those executives who report to the Chief Executive Officer.
1.2 It should set out the terms and conditions of the employment contract and clearly state any payments on engagement and termination of the contract as well as details of all payments or entitlements during the term of the contract.
1.3 We recommend companies use the template set out in our policy statement on CEO remuneration.
2.1 Whilst there is no statutory requirement for a company to provide shareholders with a Remuneration Report, the NZX Code of Corporate Governance recommends that Directors, CEO and senior executive remuneration is reported (Principle 5).
2.2 The remuneration of directors and executives should be transparent, fair and reasonable.
3.0 Key Regulatory Requirements
NZX Code of Corporate Governance
Policy 1 – Directors Fees
Policy 5 – Executive Remuneration
Policy 12 – Golden Parachutes