Annual Report 2016

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5. Directors’ Remuneration

30 March 2016
25 March 2015
Directors’ fees135131
Amounts payable under long-term incentive schemes3112
Company contributions to pension schemes7776
Taxable benefits2216
Other remuneration337408

The directors’ remuneration disclosure is made up of remuneration paid by Bord na Móna plc to all the directors of the Company, namely the Worker Participation directors, non-executive directors and executive directors. The number of directors to whom retirement benefits accrued amounted to 4 (2015: 4). Some of the directors are currently in the defined benefit pension schemes. The aggregate amount paid or payable for past directors’ retirement benefits (excluding amounts where the scheme was adequately funded) was €328,000 (2015: €340,000).

FeesOther RemunerationCompany Contribution to pensionTotal
Directors appointed in accordance with the Worker Participation (State Enterprise) Acts 1977 and 1988 (No. of worker directors; 2016:4 / 2015:4)
30 March 20165037727454
25 March 20153942029488
Non Executive Directors Other non-executive Directors (No. of non-executive directors; 2016:6 / 2015:6)
30 March 201685--85
25 March 201585--85
FeesSalaryPerformance related payCompany contributions to pension schemesTaxable benefitsTotal
Executive Directors (Mike Quinn)
30 March 2016-200-5013263
25 March 20157183-4716253

The non-executive chairman receives a fee of €21,600 and each of the Directors, excluding the Managing Director and one non-executive director, receive an annual fee of €12,600. These amounts are adjusted on a pro rata basis where a term of office commences or concludes during the year.

The directors who held office at the end of the financial year had the following interest in the ordinary shares at the start of the year, or at their date of appointment if later, and at the end of the year to 30 March 2016:

30 March 2016 shares25 March 2015 shares26 March 2014 shares
Philip Casey1,7711,7711,771
Kevin Healy1,7711,7711,771
Seamus Maguire1,7711,7711,771
Colm Ó’Gógáin1,7711,7711,771

The above shares owned by the directors are held through the Employee Share Ownership Programme (“ESOP”).