Section 430(2B) Companies Act 2006 Statement
As announced on 21st April 2023, Gregor Alexander stepped down as an Executive Director and from the Board on the appointment of his successor with effect from 1 December 2023. Between 1 December 2023 and 31st March 2024 Gregor continued to receive his base salary in accordance with his contract and retired from SSE on 31st March 2024.
He remains eligible to be considered for a time prorated bonus payment in respect of the financial year ending 31st March 2024. In accordance with the Directors’ Remuneration Policy, one third of any annual bonus paid will be deferred into shares for three years in the usual way and will count towards his post-employment shareholding.
His outstanding share awards under the Performance Share Plan (made in 2021 and 2022) will continue to vest subject to the performance conditions being met. The number of shares under award will be prorated for time to reflect the elapsed time between the start of the performance period and the date of cessation of employment.
Gregor will be required to hold shares in SSE in accordance with the post-employment share ownership policy until 31st March 2026.
In accordance with section 430(2B) of the Companies Act 2006, the information here will remain available on SSE’s website until the 2023/24 Annual Report is made available.