Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 45
HC Brand4
BE Klingenberg5
BP Mabelane6, 7
CK Mokoena8
Prescribed officers
2021
R'000
2020
R'000
2021
R'000
2020
R'000
2021
R'000
2020
R'000
2021
R'000
2020
R'000
Salary³
Risk and Retirement funding
Vehicle benefit
Healthcare
Vehicle insurance fringe benefit
Security benefit
Other benefits
Redundancy payment
4 200
1 472
234
86
6
20
–
–
2 789
1 770
234
89
6
–
502
–
6 046
1 966
212
114
6
391
10
–
5 885
1 958
212
100
6
384
–
–
5 606
392
–
44
–
–
5 001
–
–
–
–
–
–
–
–
–
5 459
324
–
93
–
12
5
–
4 954
736
–
23
–
71
774
–
Total salary and benefits
6 018
5 390
8 745
8 545
11 043
–
5 893
6 558
Annual short-term incentive
Long-term incentive gains²
6 852
940
–
709
8 940
1 583
–
942
7 698
–
–
–
6 300
1 212
–
357
Total annual remuneration
13 810
6 099
19 268
9 487
18 741
–
13 405
6 915
1
M Radebe9, 10
JR Harris11, 12, 13
BV Griffith14, 15
2021
R’000
2020
R’000
2021
R’000
2020
R’000
2021
R’000
2020
R’000
Salary³
Risk and Retirement funding
Vehicle benefit
Healthcare
Vehicle insurance fringe benefit
Security benefit
Other benefits
Redundancy payment
1 192
166
66
25
2
22
784
–
4 849
755
264
100
6
44
110
–
5 612
325
27
141
–
1
1 762
1 019
9 831
516
319
223
–
12
2 622
–
7 425
441
–
305
–
–
349
–
4 804
279
–
218
–
–
268
–
Total salary and benefits
2 257
6 128
8 887
13 523
8 520
5 569
Annual short-term incentive1
Long-term incentive gains²
–
980
–
618
3 642
1 135
–
764
8 022
885
–
811
Total annual remuneration
3 237
6 746
13 664
14 287
17 427
6 380
Prescribed officers
1. Short-term incentives approved based on the Group results for the 2021 financial year and payable in the 2022 financial year. Incentives are calculated
as a percentage of total guaranteed package/base salary as at 30 June 2021 multiplied by the Group STI performance and the Individual Performance
Factor.
2. Long-term incentives for 2021 represent the award made on 3 September 2018. The illustrative amount is calculated in terms of the number of
LTIs x Corporate performance target achieved (GEC: 44,7%; SVP: 66,8%) x average share price for June 2021. The actual vesting date for the annual
awards is 3 September 2021 subject to the company being in an open period. Dividend equivalents accrue at the end of the vesting period, to the extent
that the LTIs vest. 50% of the vested LTIs and accrued dividends will be released on 3 September 2021 and the balance in September 2023, subject to
the rules of the LTI plan. As there are no further performance conditions attached to the balance of the 50%, the full amount is disclosed in the single
figure table.
SASOL LIMITED GROUP
CONSOLIDATED FINANCIAL STATEMENTS
a. Remuneration and benefits approved and paid in respect of 2021 for Prescribed Officers
NOTES TO THE FINANCIAL STATEMENTS
Prescribed Officers
SASOL LIMITED COMPANY
The following section illustrates how the performance outcomes informed the reward decisions for Prescribed Officers:
3. Prescribed Officers have voluntarily agreed to a salary sacrifice of at least 20% for the period of May 2020 – July 2020. This was in addition to the
suspension of employer contributions to the pension fund for the same period.
4. Mr Brand opted to reduce employer contributions to the pension fund and allocate the contribution to his salary.
5. Other benefits for Mr Klingenberg include subsidised business transport (R666) and a long service award (R9 545).
6. Ms Mabelane was appointed as Executive Vice President: Energy Business with effect from 1 September 2020.
7. Other benefits for Ms Mabelane include subsidised business transport (R1 040), sign-on/buy-out award partially compensating for the loss of incentives
and shares when she resigned from her previous employer (R5 000 000). This amount is the first tranche of her staggered sign-on/buy-out award of
R11 000 000. The first tranche is subject to the fulfilment of a 24-month service period and is repayable in full if this period is not fulfilled. The balance
will be paid out over a further two-year period subject to continued service and further retention periods.
8. Ms Mokoena opted to reduce employer contributions to the pension fund and allocate the contribution to her salary. Other benefits for Ms Mokoena
include subsidised business transport (R5 267).
9. Other benefits for Mr Radebe include encashment of unused accrued leave (R775 237) and subsidised business transport (R8 617).
11. Mr Harris’s position was declared redundant effective 18 January 2021 and a severance payment of R1 019 263 was paid out to him.
12. Other benefits for Mr Harris include relocation expenses (R892 014), tax on expatriate benefits and allowances (R718 916), private accommodation
(R11 573), tax consulting (R65 333), utility allowance (R2 687) and accommodation (R71 685).
13. Mr Harris received a pro rata STI in respect of service during 2021.
14. Other benefits for Mr Griffith include tax advisory services in respect of previous expatriate assignments (R98 583) and employer contributions to
US statutory funds (R250 628).
15. Mr Griffith received a market related adjustment effective 1 January 2021 in recognition of his larger portfolio after the implementation of the new
operating model. Comparative data for 2020 on a pro-rata period only since his appointment to the GEC, on 1 November 2019.
43
Sasol Annual Financial Statements 2021
OTHER
10. No short- term incentive payable to Mr Radebe as he retired from Sasol before 1 October of the current financial year.