Annual Financial Statements for the year ended 30 June 2021 0 - Book - Page 43
Executive Directors
a. Remuneration and benefits approved for payment in respect of 2021 for Executive Directors
FR Grobler3 ,4
Executive Directors
Salary
Risk and Retirement
funding
Vehicle benefit
Healthcare
Vehicle insurance
fringe benefit
Security benefits
Other benefits
Total salary and
benefits
Annual short-term
incentive1
Long-term incentive
gains2
Total annual
remuneration
2021
R’000
P Victor5, 7
2020
(as Exec
director)
R’000
2020
(as
Prescribed
officer)
R’000
VD Kahla6, 7
2021
R’000
2020
R’000
2021
R’000
2020
(as
Prescribed
officer)
R’000
2020
(as Exec
director)
R’000
10 032
7 114
3 113
7 481
6 678
6 708
4 143
2 047
373
–
95
501
57
130
295
77
64
360
100
77
919
100
100
345
–
101
428
–
68
245
–
32
6
133
1 923
4
–
2 176
2
–
552
6
–
1
6
–
31
6
534
2
4
484
1
2
–
–
12 562
9 982
4 103
8 025
7 834
7 696
5 128
2 326
18 366
–
–
11 174
–
7 670
–
–
1 255
725
–
2 243
1 143
1 326
789
–
32 183
10 707
4 103
21 442
8 977
16 692
5 917
2 326
SASOL LIMITED GROUP
CONSOLIDATED FINANCIAL STATEMENTS
The following section illustrates how these performance outcomes informed the reward decisions for Executive Directors:
NOTES TO THE FINANCIAL STATEMENTS
On the back of the exceptional results, the Committee considered on the basis of relative performance and contribution to the group results,
the individual performance factor for the members of the GEC, in the range of 100% to 130%.
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.
3. Mr Grobler agreed to a voluntary contribution of 30% of his salary to the South Africa Solidarity Fund for the period May 2020 – July 2020.
4. Other benefits for Mr Grobler include tax corrections on pension fund contributions made over the period of the previous expatriate assignment
(R1 518 846), tax assistance rendered in respect of his previous expatriate assignment to Germany (R403 374) and subsidised business transport (R770).
5. Other benefits for Mr Victor include subsidised business transport.
6. Other benefits for Mr Kahla include a long service award (R2 000).
7. Messrs Victor and Kahla have voluntarily agreed to a salary sacrifice of 20% for the period May 2020 – July 2020. In addition, there was a suspension of
employer contributions to the pension fund for the same period. The increase in salaries in 2021 is as a result of the sacrifice only being applied for one
month in 2021 as opposed to two months in 2020. In addition, Messrs Victor and Kahla opted to reduce their contribution to the SA pension fund and
allocate the contribution to their salary.
SASOL LIMITED COMPANY
1. Short-term incentives approved based on the Group results for 2021 and payable in the 2022 financial year. Incentives are calculated as a percentage of
total guaranteed package/base salary as at 30 June 2021 x Group STI achievement x Individual Performance Achievement.
b. Unvested LTI holdings (number)
FR Grobler
P Victor
VD Kahla
Total
Effect of
corporate
Granted performance
in 20211
targets
Dividend
equivalents
Long-term
incentives
settled2
136 222
122 740
83 246
145 855
88 191
103 382
(11 921)
(18 794)
(12 986)
862
1 125
961
(7 614)
(6 868)
(8 762)
263 404
186 394
165 841
342 208
337 428
(43 701)
2 948
(23 244)
615 639
1. LTIs granted on 6 October 2020 as an on-appointment award for Mr Kahla as executive director and the balance as annual LTI awards on
4 December 2020.
2. 50% of the award that vested in 2021 is still subject to a continued employment period of two years.
41
Cumulative
balance
at the end
of the year
Sasol Annual Financial Statements 2021
OTHER
Executive Directors
Cumulative
balance at the
beginning
of the year