Bank announces that Sir Philip Hampton will not receive bonus amid controversy over decision to award RBS chief executive Stephen Hester £963,000.
Royal Bank of Scotland chairman Sir Philip Hampton will not receive a £1.4m share award because he had not meet the performance criteria attached to them when he was first awarded them when he joined the bank in 2009. Amid the controvery over a near £1m bonus for chief executive Stephen Hester, it had been reported that the controversial share award would not pay out and on Saturday: “Sir Philip Hampton will not receive the 5.17m shares he was awarded in 2009 when he joined RBS.”
While Hampton had decided not to accept the award of 5.2m shares – which was handed to him when he joined the bank in 2009 – it is understood that the conditions attached to the potential pay out had not been achieved.
chairman Sir Philip Hampton will not receive a £1.4m share award because he had not meet the performance criteria attached to them when he was first awarded them when he joined the bank in 2009. Amid the controvery over a near £1m bonus for chief executive Stephen Hester, it had been reported that the controversial share award would not pay out and on Saturday: “Sir Philip Hampton will not receive the 5.17m shares he was awarded in 2009 when he joined RBS.”
While Hampton had decided not to accept the award of 5.2m shares – which was handed to him when he joined the bank in 2009 – it is understood that the conditions attached to the potential pay out had not been achieved.