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stc
Annual Report
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A brief overview of stc
Group

 

,The performance, activities

and investments of stc Group

and its subsidiaries during

the year 2022

 

Risks management

and transactions with

related parties

 

Board of Directors and
Committees

 

Dividends Policy and Distribution

and Board Recommendations and

Compensation

 

Conclusion

 

Financial Consolidated

Statements

A brief overview of stc Group The performance, activities, and
nvestments of stc Group and
its subsidiaries during the year 2022 Risks management and transactions
with related parties Board of Directors and Committees Dividends Policy and
Distribution and Board
Recommendations and Compensation Conclusion Financial Consolidated
Statements
commit

Remuneration and Compensation of the Board of Directors and Top Five Senior Executives:

On 24/4/2019 stc’s General Assembly resolved to approve amending the remuneration policy of the Board of Directors, the Committees, and the Executives Management. The General Assembly also approved amending the Audit Committee Charter, tasks, roles, responsibilities, and remunerations (published on stc website). Each Director of the Board receives an amount of SAR 200,000 for his/ her Membership in the Board and a remuneration of SAR 200,000 for being a Committee Member.

Each Member of the Audit Committee receives an amount of SAR 150,000 for being a Member. Each external Member in the other committees receives an amount of SAR 100,000. Members are paid SAR 5,000 for each meeting they attend. The remuneration of attending the meeting by the Directors of the Board and the Members of the Committees in 2022, in addition to stc top five Executives, including the GCEO and the GCFO, are as follows:

Remuneration and Compensation of the Boardof Directors and Top Five Senior Executives:

commit

Remuneration and Compensation of the Boardof Directors and Top Five Senior Executives:

On 24/4/2019 stc’s General Assembly resolved to approve amending the remuneration policy of the Board of Directors, the Committees, and the Executives Management. The General Assembly also approved amending the Audit Committee Charter, tasks, roles, responsibilities, and remunerations (published on stc website). Each Director of the Board receives an amount of SAR 200,000 for his/ her Membership in the Board and a remuneration of SAR 200,000 for being a Committee Member. Each Member of the Audit Committee receives an amount of SAR 150,000 for being a Member. Each external Member in the other committees receives an amount of SAR 100,000. Members are paid SAR 5,000 for each meeting they attend.

The remuneration of attending the meeting by the Directors of the Board and the Members of the Committees in 2022, in addition to stc top five Executives, including the GCEO and the GCFO, are as follows:

  • Remuneration and Compensation of the Directors of the Board for the 8 th term during 2022

    (The below amounts are in SAR)

    Fixed Remunerations Variable Remunerations
    (SAR) Fixed remunerations Allowance for attending Board meetings In-kind benefits Remuneration for technical, administrative and consulting work Remuneration of the Chairman of the Board, the Managing Director or the Secretary if a member Total Percentage of profits Periodic bonus Short-term incentives plan Long-term incentives plan Shares granted Total Indemnity Total Expense Allowance
    First: Independent Directors
    HRH Prince Mohammed K. A.Al-Faisal 200,000 20,000 - - - 220,000 - - - - - - - 220,000 -
    اMs. Sarah J. AL-Suhaimi 200,000 20,000 - - - 220,000 - - - - - - - 220,000 -
    3-Mr. Jameel A. AlMulhem 200,000 20,000 - - - 220,000 - - - - - - - 220,000
    4-Mr. Walid Ibrahim Shukri 200,000 20,000 - - - 220,000 - - - - - - - 220,000 -
    Total 800,000 80,000 - - - 880,000 - - - - - - - 880,000 -
    Second: Non-executive Directors
    1- H.E. Dr. Khaled H. Biyari * 200,000 20,000 - - - 220,000 - - - - - - - 220,000 -
    H.E. Mr. Mohammed T. Al-Nahhas 200,000 20,000 - - - 220,000 - - - - - - - 220,000 -
    اMr. Yazeed A. AL-Humied ** 200,000 15,000 - - - 215,000 - - - - - - - 215,000 -
    اMs. Rania M. Nashar ** 200,000 20,000 - - - 220,000 - - - - - - - 220,000 -
    Mr. Arndt Rautenberg* 200,000 20,000 - - - 220,000 - - - - - - - 220,000 -
    Mr. Sanjay Kapoor * 200,000 20,000 - - - 220,000 - - - - - - - 220,000 -
    Mr. Ahmed M. Al Omran 200,000 20,000 - - - 220,000 - - - - - - - 220,000 -
    Total 1,400,000 135,000 - - - 1,535,000 - - - - - - - 1,535,000 -
    Third: Executive Directors
    None - - - - - - - - - - - - - - -
    Total - - - - - - - - - - - - - - -
    Net Total 2,200,000 215,000 - - - 2,415,000 - - - - - - - 2,415,000 -

    On 13/3/2017 the Board of Directors resolved to approve amending the remuneration of the Chairman of the Board to be

    100,000

    SAR per month.

    *

    stc Board membership annual remuner ation and the attendance allowance of stc Board meetings of PIF representatives shall be transferred directly to PIF.

    **

    Remunerations and allowances of attending stc Board and Committees’ meetings by PIF representatives and employees shall be transferred directly to PIF.

  • Remuneration of Committees’ Members for the 8th term during 2022

    (The below amounts are in SAR)

    Fixed remunerations
    Name The Committee (without meetings’ attendance allowance) Meetings attendance allowance Total
    HRH Prince Mohammed K. A. Al-Faisal ExCom
    Investment    		 200,000 55,000 255,000
    H.E. Dr. Khaled H. Biyari ExCom 200,000 25,000 225,000
    H.E. Mr. Mohammed T. Al-Nahhas ExCom 200,000 25,000 225,000
    اMr. Yazeed A. AL-Humied * ExCom 200,000 25,000 225,000
    Ms. Rania M. Nashar * NRC
    Risk    		 200,000 50,000 250,000
    Mr. Arndt Rautenberg Investment 200,000 30,000 230,000
    Mr. Sanjay Kapoor ExCom 200,000 25,000 225,000
    Ms. Sarah J. AL-Suhaimi Investment 200,000 30,000 230,000
    Mr. Jameel A. AlMulhem NRC 200,000 30,000 230,000
    Mr. Walid Ibrahim Shukri Audit
    Risk    		 350,000 65,000 415,000
    Mr. Ahmed M. Al Omran Risk 200,000 20,000 220,000
    Dr. Ammr K. Kurdi Audit (External Member) 150,000 45,000 195,000
    Mr. Khalid bin Abdullah Al Ankari Audit (External Member) 150,000 45,000 195,000
    Mr. Medhat F. Tawfik Audit (External Member) 150,000 45,000 195,000
    Eng. Tarek Abdulaziz Alrikhaimi Risk (External Member) 100,000 20,000 120,000
    Mr. Rashid I. Sharif Investment(External Member) 100,000 30,000 130,000
    اMr. Johan Brand NRC (External Member) 100,000 30,000 130,000
    Ms. Hoda M. Al-Ghoson NRC (External Member) 100,000 30,000 130,000
    Total 3,200,000 625,000 3,825,000

    * Remunerations and allowances of attending Committees’ meetings by PIF representatives and employees shall be transferred directly to PIF.

  • Remunerations of the Top Five Senior Executives

    (Including the GCEO and the GCFO in 2022) (The below amounts are in SAR)

    Fixed Remunerations Variable Remunerations
    SAR Salaries Allowances In-kind benefits Total Periodic remunerations Revenues Short-term incentive plans Long-term incentive plans Shares granted (value entered) Total Indemnity Board remunerations for executives if applicable Net total
    Total 13,920,871.44 4,959,962.04 - 18,880,833.48 - - 32,091,788.34 - 4,957,835 37,049,623.34 - 1,982,294.52 57,912,751.34