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Pru UK chief Jackie Hunt handed £4m bonus package

Newly appointed Prudential UK and Europe chief executive Jackie Hunt has been handed up to £4m in shares to compensate for bonuses forfeited when she quit Standard Life.

Hunt’s decision to leave Standard, where she was chief financial officer, resulted in her giving up a series of bonuses from her former employer.

Prudential has now set out how it will compensate her for the loss of these incentives.

The insurer has agreed to give Hunt 36,337 shares at a market price of £11.686 which will be released to her in March 2014 and March 2015.

The firm has also made conditional share awards under the Prudential long term incentive plan.

These awards were calculated at a price of £11.10 per share and consist of 106,805 shares to be released by 31 March 2014, and 95,585 shares to be released by 29 March 2015. 

The vesting of these awards is subject to achievement of a performance criteria related to total shareholder return.

In respect of the 2013 financial year, Hunt has been given a conditional share award under the group performance share plan of 118,040 shares valued at £11.9133 per share.

This award will vest in October 2016 subject to achievement of a performance criteria related to IFRS operating profit and total shareholder return.

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