12 August 2019

Voluntary remuneration disclosure: Fariyal Khanbabi

On 2 July 2019 it was announced that Fariyal Khanbabi would, with effect from 10 August 2019, assume the role of Interim CEO (upon the retirement of Marty Rapp).

Fariyal is paid a base salary of £295,000 in respect of her role as Chief Financial Officer of Dialight. This base salary is pensionable, bonusable under the Dialight Annual Performance Bonus Plan (APBP), and acts as the reference point for calculating awards under the Dialight Performance Share Plan (PSP).

In recognition of Fariyal assuming the Interim CEO role, and following receipt of advice from Dialight’s external remuneration advisers, Dialight’s Remuneration Committee have approved an additional monthly payment of £12,292 to Fariyal for the period of her appointment as Interim CEO. This additional payment is not pensionable, nor does it attract any additional APBP or PSP payments / awards.  This sum represents an annualised uplift of £147,500 (calculated at the rate of 50% of Fariyal’s current base salary as CFO) and broadly aligns Fariyal’s fixed pay, for the period of her appointment as Interim CEO, with a re-based fixed-pay target for the Dialight CEO role.

These arrangements comply with Dialight’s 2017 Remuneration Policy.