1MICHAEL

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE - €22.73M

A pri­vate-eq­uity-style “founder share” scheme pro­pels Stan­ley to the top of the list. The scheme makes up the vast bulk of his pack­age.

He does not par­tic­i­pate in an LTIP on foot of the founder share scheme, which en­ti­tles him and co-founders Alan Mcintosh and Kevin Stan­ley to large amounts of Cairn shares if cer­tain per­for­mance cri­te­ria are met.

The pol­icy was agreed with the com­pany’s key in­vestors and Cairn has pre­vi­ously said that it was a re­flec­tion of the value cre­ated (but not taken) by the founders in de­vel­op­ing the com­pany prior to the IPO. For 2017, Stan­ley’s re­mu­ner­a­tion pack­age of €797,000 is dwarfed by the value he re­ceived in shares.

On August 18 2017, he re­ceived 13,539,852 Cairn shares. Based on a clos­ing price of €1.62 on that day, the shares were worth €21.93m, for a to­tal pack­age of €22.73m. Half the shares are

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