ROYAL Bank of Scotland chief executive Ross McEwan has been awarded shares worth around £540,000 based on last night’s closing price, the state-backed institution announced last night, writes Scott Wright.
Mr McEwan, who appeared before the Scottish Affairs Committee in Westminster last week to defend the bank’s latest, controversial branch cull, was awarded 184,784 shares as part of his fixed share allowance for the period ending June 30.
Mr McEwan, who succeeded Stephen Hester as chief executive of Royal Bank in 2013, is entitled to receive a fixed share allowance equal to 100 per cent of his £1 million basic salary.
The bank said yesterday that, following his most recent award, the New Zealander transferred 27,602 shares worth around £81,000, to charity on May 11.
That was in line with commitments made by Mr McEwan in February 2016 to transfer all of his 2015 fixed share allowance and half of his 2016 fixed share allowance to charity.
Some 86,832 of the shares awarded to Mr McEwan, worth around £255,000, were with withheld to satisfied associated tax liability.
The chief executive retained 97,916 shares worth about £287,000.
Shares in Royal Bank of Scotland closed down 1.1p at 293p.
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here