A group of 15 senior officials from Santander Bankincluding its president Ana Botín, have received 2.86 million shares of the entity within the framework of different deferred variable remuneration plans linked to multi-year objectives. A joint portfolio that reaches a valuation of 9.47 million at market prices.
The free delivery of shares corresponds to the liquidation of plans that began in 2016 in most cases, as stated in the forms sent to the National Securities Market Commission (CNMV). However, in each particular case the incentives come from different programs.
Within the framework of these deferred variable remuneration plans, Ana Botin has received 454,453 shares, valued at 1.5 million euros, while Jose Antonio Alvarez has collected more than one million euros by receiving 303,733 shares.
The notifications, collected by Europe Pressalso include the delivery of shares to 15 people with managerial positions in the group, such as Maria Alexandra Teixeira (41,302 shares), Antonio Simões (163,028 shares), Marjolein Van Hellmondt (54,680 shares), Monica Lopez-Monis (57,709 shares), Jose Luis de Mora (111,011), Javier Maldonado (125,333 shares) and John Guitard (180,884 shares).
Similarly, directors have received titles from Santander Juan Manuel Cendoya (141,909 shares), Jose Francisco Doncel (116,509 shares), Dirk Marzluf (280,175 shares), Keiran Foad (125,204 shares), Jose Maria Linares (200,719 shares), Jaime Perez Renovales (121,673 shares), Victor Matarranz (112,787 shares) and Jose Francisco Garcia Cantera (258,932 shares).
Banco Santander’s remuneration policy establishes that the variable remuneration to be received in shares has a deferred payment of between three and five years. Likewise, those with a variable for objectives greater than or equal to 2.7 million euros, receive 40% immediately and 60% is deferred for five years.
If the target compensation is between 1.7 million and 2.7 million, the percentage of deferral amounts to 50% for five years, while for the rest of the identified group, 40% is deferred for three years. This part is paid in thirds or fifths each year, provided that the conditions established for it are met.