In the latest A&M Non-Executive Director (NED) report we look at actual fees paid and the disclosed fee policies for FTSE 350 and FTSE SmallCap companies with year ends between 1 March 2020 and 31 January 2021. Fee differences between financial services companies and other sectors are also analysed in this report.
Key points to note:
Median actual fees received by Non-Executive Directors in the SmallCap have decreased due to a high proportion of directors taking voluntary reductions in 2020 (typically for three months). In FTSE 350 companies, median fees received were broadly stable year on year, with the exception of some financial services companies where fees received have increased slightly.
Median policy fee levels for Non-Executive Directors are mostly unchanged year-on-year, with the majority of FTSE 350 and SmallCap companies freezing fee rates.
The number of companies paying additional responsibility fees for the main Board committees is increasing. The most significant increase is in the percentage of companies paying additional fees for the Designated NED, for the purpose of the employee voice, as the role and time commitment becomes more defined.
