INDIVIOR PLC
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
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Compensation of Executive Directors and Senior Managers
The table below sets forth the remuneration of the Executive Directors and Senior Managers for the financial year ended December 31, 2024.
| Mark Crossley $’000 · Ryan Preblick(1) $’000 · All Other Senior Managers Combined$’000 | ||||
|---|---|---|---|---|
| Fixed Pay | ||||
| Base Salary | 871.8 | 539.9 | 4,232.9 | |
| Taxable Benefits(2) | 63.3 | 65.0 | 756.1 | |
| Retirement Benefits(3) | 29.3 | 29.3 | 374.4 | |
| Total Fixed Pay | 964.4 | 634.2 | 5,363.4 | |
| Variable Pay | ||||
| Annual Incentive Plan (AIP)(4) | 357.4 | 132.8 | 1,049.3 | |
| Long Term Incentive Plan (LTIP) | 0.0 | 0.0 | 68.4 | (6) |
| Total Variable Pay | 357.4 | 132.8 | 1,117.7 | |
| Total Pay | 1,321.8 | 767.0 | 6,481.1 | |
(1)Mr. Preblick stepped down as an Executive Director on December 31, 2024. Mr. Preblick continues in his role as Chief Financial Officer and he remains a member of the Executive Committee.
(2)Taxable benefits consist primarily of healthcare, car allowance, life and disability insurance, and professional support for the completion of U.S. and U.K. tax returns. Taxable benefits included a car allowance ($19,500 each for Mr. Crossley and Mr. Preblick) and premiums for medical coverage ($22,300 for Mr. Crossley and $32,800 for Mr. Preblick).
(3)Executive Directors and Senior Managers may receive contributions into a defined contribution plan, a cash allowance, pension benefits in the form of company profit-sharing or matching contributions into the U.S. qualified 401(k) plan or a combination thereof. Mr. Crossley and Mr. Preblick received profit-sharing contributions of $13,800 (4% of eligible base salary) and matching contributions of $15,500 (75% on elected deferrals up to 4.5% of eligible base salary) to their 401(k) plan accounts.
(4)The maximum Annual Incentive Plan (“AIP”) opportunity for the Chief Executive Officer is 200% of his base salary. The maximum AIP opportunity for the Chief Financial Officer is 120% of his base salary. The maximum AIP opportunity for our Senior Managers ranges from 100% to 140% of their base salary. For our Executive Directors, the AIP is paid 75% in cash, with the remaining 25% deferred into conditional shares for two years under the Company’s Deferred Bonus Plan. See “Deferred Bonus Plan 2018 (“DBP”),” beginning on page 182. For Senior Managers, the AIP is paid in cash. For fiscal year 2024, the Compensation Committee set stretching performance targets in the context of the business plan for 2024 and taking account of external forecasts. These targets were set by reference to the key strategic drivers for the business: global net revenues for SUBLOCADE and U.S. net revenues for PERSERIS. The targets were reviewed by the Committee at its November 2024 meeting in light of the discontinuation of PERSERIS. The PERSERIS targets were updated from full year to half year (i.e., January to June) and the weighting reduced by half. For threshold performance 12.5% of the maximum bonus would be paid, for target performance 50% of the maximum bonus would be paid, and 100% of the maximum bonus would be paid for the delivery of exceptional performance significantly above both internal and external expectations. Achievement of the performance targets is calculated on a straight-line basis between threshold and target and between target and maximum. In addition, an ESG metric acted as a potential modifier to the overall AIP payout by which the overall AIP payout could be reduced by up to 10% if certain ESG targets were not met during the year; all objectives under the ESG modifier were met and the Committee chose not to exercise its discretion to reduce the overall AIP payout. Overall performance resulted in a formulaic payout of 20.5% of maximum.
(5)The value of the awards has been estimated based on the number of shares expected to vest (6,702) at the three-month average share price of Indivior shares for the last quarter of the 2024 financial year (795.5p) and converted to U.S. dollars using the average GBP/U.S.$ exchange rate over the same period (GB£1:U.S.$1.2832).
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