NZSA Policy No 13 – Remuneration Report 

NZSA Policy No 13 – Remuneration Report 

Application:  This policy applies to all NZX listed companies. 

Purpose: NZSA maintains a range of policies to moderate 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. 


1.0  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. 


2.0  Commentary 

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.” 



The definition of Independence is given in the NZX Listing rules under 2.13.3 (f). 


Related Policies 

NZSA maintains other related policies regarding audit as shown below:  

Policy 2 Auditor Rotation (hyperlinks) 

Policy 3 Auditor Tenure (hyperlinks) 


Document Control 

This document was approved by the NZSA Board: July 2018 

This document is effective from: July 2018 

The next planned review date is: July 2021