Decision details

The Committee considered a report from the Shareholder Representative presenting Graven Hill Village Development Company’s - FY 24/25 Bonus Recommendations and FY 25/26 Bonus Proposals.

Resolved

(1)            That GHVDC’s Remuneration Committee’s proposed bonus payments for financial year 2024/25 as approved by the GHVDC Board at its meeting on 24 April 2025 be accepted.

(2)            That GHVDC’s Renumeration Committee’s proposed bonus scheme and proposals for financial year 2025/26 as approved by the GHVDC Board at its meeting on 24 April 2025 be accepted.

(3)            That the principles and approach set out in the company’s confidential reports attached as Confidential Appendix A, B and Cto this report be endorsed.

(4)            That the Remuneration Committee be asked to review the scheme each year before the bonus appraisal process commences and advise the Shareholder Committee of any changes.

(5)            That the Remuneration Committee be asked to ensure that the benchmarking exercise is repeated periodically in accordance with sector best practice and fundamental scope changes, to ensure that the scheme remains consistent with good practice in the market and incentivises staff.

(6)            That it be agreed any changes to the bonus scheme for future years must be submitted to the Shareholder Committee for its approval before being implemented and before the financial year to which it relates be specified.