My first Publication ocbc_ar17_fullreport_english | Page 73

fixing date. Shares granted upon
conversions in accordance with the rules
of the ESPP are allocated from treasury
shares or from new ordinary shares
issued by the Bank.
The aggregate number of new ordinary
shares issued by the Bank pursuant to
the ESPP, together with the aggregate
number of new ordinary shares issued
pursuant to the Scheme, cannot exceed
15 per cent of the Bank’s total number of
issued ordinary shares. Notwithstanding
the limits allowed under the relevant
rules, the Bank had been applying a
lower aggregate limit of five per cent
instead of 15 per cent as a matter of
conservative practice.
PRINCIPLE 9: DISCLOSURE
ON REMUNERATION
The following disclosures should be read
in conjunction with the remuneration
policies, practices and share plans as
described under Principles 7 and 8.
Directors’ Remuneration in 2017
Bank
Director
Fees (b)
Ooi Sang Kuang
Chua Kim Chiu (a)
Lai Teck Poh
Lee Tih Shih
Christina Ong
Quah Wee Ghee
Pramukti Surjaudaja
Tan Ngiap Joo
Teh Kok Peng (a)
Wee Joo Yeow
Director & CEO
Samuel N. Tsien
Remuneration
Shares (b) (c)
Other Benefits (d)
Total
S$’000 S$’000 S$’000 S$’000
1,550
38
235
147
118
199
121
275
48
248
2,979 81
23
81
81
81
81
81
81
40
81
711 35
–
–
–
–
–
–
–
–
–
35 1,666
61
316
228
199
280
202
356
88
329
3,725
Salary Bonus S$’000 S$’000
Share Options (e)
S$’000
Deferred Shares
S$’000
Other Benefits (d)
S$’000 S$’000
Total
1,242 5,031 839 2,515 61 9,688
Notes:
(a)
Mr Chua Kim Chiu appointed to the Board and Audit Committee with effect from 20 September 2017. Dr Teh Kok Peng ceased to be a Board member
and Remuneration Committee member with effect from 1 July 2017.
(b)
Fees and remuneration shares for non-executive Directors are subject to approval by shareholders at the 2018 AGM.
(c)
Value of remuneration shares was estimated based on closing price of ordinary shares on 21 March 2018, i.e. S$13.42.
(d)
Non-cash component such as club and car benefits.
(e)
Option to acquire 409,643 ordinary shares at an acquisition price of S$13.34 each. Exercise period is from 22 March 2019 to 21 March 2028. The
option is valued using the Binomial valuation model.
Subsidiaries
Director
Fees
S$’000
Ooi Sang Kuang
Lai Teck Poh
Quah Wee Ghee
Pramukti Surjaudaja
Tan Ngiap Joo
Wee Joo Yeow
227 (f)
227 (g)
212 (h)
738 (i)
168 ( j)
144 (k)
Notes:
(f)
Fees from OCBC Bank (Malaysia), OCBC Al-Amin Bank and OCBC Wing Hang Bank.
(g)
Fees from OCBC Bank (Malaysia), OCBC Al-Amin Bank and PT Bank OCBC NISP.
(h)
Fees from Bank of Singapore, The Great Eastern Life Assurance Co and Great Eastern General Insurance.
(i)
Fees from PT Bank OCBC NISP for being Board President Commissioner, a capacity in Indonesia with critical supervisory responsibilities
over the organisation.
(j)
Fees from OCBC Bank (Malaysia) and OCBC Al-Amin Bank for the full year, as well as fees from Banking Computer Services and BCS Information Systems
for the period that they were subsidiaries of OCBC.
(k)
Fees from Great Eastern Holdings.
BUILDING ON OUR CORPORATE STRATEGY FOR SUSTAINABLE GROWTH
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