Ben Waldron CEASED TO BE AN EXECUTIVE DIRECTOR OF BAKKAVOR GROUP PLC ON 31 October 2024
The following information is provided in accordance with Section 430 (2B) of the Companies Act 2006.
Further to the announcement on 5 September 2024, Ben Waldron ceased to be a Director of Bakkavor Group plc on 31 October 2024 and it is anticipated that he will remain an employee of the Group until 30 April 2025 to ensure a smooth handover.
Details of the remuneration arrangements and departure terms made are set out below. These terms are in line with the Company’s Directors’ Remuneration Policy (Policy) which was approved by shareholders at the 2024 Annual General Meeting.
Salary and benefits
Ben’s 12-month notice period commenced on 5 September 2024 and he ceased to be a director on 31 October 2024. Ben will receive his base salary, benefits and pension until he ceases employment which is expected to be on 30 April 2025. Ben will not receive a payment in lieu of notice for the remaining unexpired period of notice.
Annual bonus
Ben will be eligible for an annual bonus in respect of the 2024 financial year and, as it is anticipated he will remain in employment for the full 2024 financial year, this bonus will not be pro-rated. The bonus will be determined and paid at the normal time in 2025 following the year end audit and will be delivered in the form of cash and deferred shares as set out in the Policy.
Ben’s unvested deferred bonus awards will vest on their normal vesting dates.
Long term incentives
Ben has interests in unvested long term incentive awards and these will vest on their normal vesting dates subject to the achievement of performance conditions and a pro rata reduction to reflect Ben’s period of employment relative to the relevant three-year vesting periods. A two year holding period will apply on any vested awards. Ben will not receive an LTIP award in 2025.
All outstanding share awards will remain subject to malus and clawback conditions.
There are no payments for loss of office.
31 October 2024
Patrick Cook CEASED TO BE A Non-EXECUTIVE DIRECTOR OF BAKKAVOR GROUP PLC ON 16 january 2024
The following information is provided in accordance with Section 430 (2B) of the Companies Act 2006.
Further to the announcement on 15 January 2024, Patrick Cook ceased to be a Non-executive Director of Bakkavor Group plc on 16 January 2024.
No remuneration payment or payment for loss of office will be made to Patrick Cook in connection with the termination of his appointment.
16 January 2024