Barclays awards senior staff with £40m in shares

Barclays Group has awarded nine of its senior managers with shares worth £40 million.

According to the bank, the shares are provided in respect of long-term incentive plans (Ltips), which are currently held in an account on behalf of the individual, and to satisfy awards made under a range of share plans, including its performance share plan and executive share award plan, over the next five years.

The market price on the date the shares were provided was 308.1 pence per share.

The number of shares under option includes an additional number of shares, which have been accrued in respect of dividends received from March 2010.

A spokesperson from Barclays said: “The share releases detailed in this announcement include deferred shares awarded from previous years’ annual performance bonuses and, in some cases, vesting of historical long-term incentive plans, where the agreed performance conditions for vesting have been met.

“As was stated in the 2012 annual report, published on 8 March, Barclays has revised its remuneration policy and all future incentive awards, short and long-term, will be based on the new principles that have been set out.”