SUMMARY REMUNERATION TABLE FOR EXECUTIVE DIRECTOR AND GROUP PRESIDENT AND CHIEF EXECUTIVE OFFICER FOR FY2024 (GROUP) The Group President & CEO, as an executive Director, does not receive Directors’ fees from ST Engineering. His compensation comprises two components, cash compensation (salary, allowances, cash-based incentives and benefits) and share-based incentives which are conditional upon meeting certain performance targets over a performance period. For more information on the performance shares and restricted shares granted, please refer to the Executive Remuneration Structure section in the Corporate Governance Report from page 88 to 89. Cash Remuneration for Executive Director and Group President & CEO Name of Executive Director and Group President & CEO Salary1 $ Variable cash-based incentives2 $ Benefits3 $ Total Cash Remuneration $ Vincent Chong Sy Feng 1,217,339 3,306,422 138,642 4,662,403 Share Remuneration for Executive Director and Group President & CEO Contingent Grant under RSP20204 No. of Shares (vesting of 0 - 100% shares over 4 years based on ROCE key performance indicator (KPI)) 234,831 restricted shares to be granted for FY2024 (Fair value per share: S$4.24) Contingent Grant under PSP20205 No. of Shares (vesting of 0 - 170% shares after 3 years based on Absolute TSR & EPS KPIs) 472,635 performance shares to be granted for FY2024 (Fair value per share: S$3.16) Contingent Grant under PSP20206 No. of Shares (vesting of 0 – 170% shares after 6 years based on Absolute TSR, EPS & ESG KPIs) 71,429 performance shares to be granted for FY2024 (Fair value per share: S$2.80) The Group President & CEO’s total remuneration comprises salary (16%), variable cash-based incentives (45%), benefits (2%) and share-based incentives (37%). 1 Salary includes base salary and employer CPF for FY2024. 2 Variable cash-based incentives include Performance Target Bonus & EVA-based incentive declared. 3 Benefits provided for employees are comparable with local market practices. These include medical, dental, insurances, transport, etc. 4 This conditional award is subject to a performance target set over a one-year performance period. If the performance target is attained, the restricted shares comprised in this conditional award will be released according to the stipulated vesting periods. The restricted shares will vest annually over four years, subject to the recipient’s continued employment with the Group and maintaining a satisfactory performance rating for the financial year preceding each tranche of vesting. 5 A minimum threshold performance over a three-year period is required for any performance shares to be released and the actual number of performance shares to be released is capped at 170% of the conditional award. 6 A minimum threshold performance over a six-year period is required for any performance shares to be released and the actual number of performance shares to be released is capped at 170% of the conditional award. SUMMARY REMUNERATION TABLE FOR KEY MANAGEMENT EXECUTIVES FOR FY2024 (GROUP) The ERCC is of the view that the Key Management Executives (KME) shalI comprise members of the EXCO (Vincent Chong, Cedric Foo, Jeffrey Lam, Ravinder Singh and Tan Lee Chew). Their compensation comprises two components, cash compensation (salary, allowances, cash-based incentives and benefits) and share-based incentives which are conditional upon meeting certain performance targets over a performance period. For more information on the performance shares and restricted shares granted, please refer to the Executive Remuneration Structure section in the Corporate Governance Report from page 88 to 89. 93 CORPORATE OVERVIEW PERFORMANCE REVIEW SUSTAINABILITY FINANCIAL REPORT
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