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