Spirit Pub Company chief executive Mike Tye was paid £2.6m in 2013/14 after being given a 106%-of-salary bonus and a £1.4m long-term incentive payment, according to the company’s annual report.
Finance director Paddy Gallagher took home £795,000 after his 75% of salary bonus and £497,000 incentive.
The report breaks down Tye’s remuneration into a base salary of £483,000, taxable benefits of £33,000, an annual bonus of £514,000, long-term incentive payment of £1.5m and pension contributions of £106,000.
Tony Rice, chairman of the Remuneration Committee, said: “Spirit’s senior management team have performed very well this year. As well as exceeding their financial targets for both the Leased and Managed divisions, they have delivered on a number of objectives that will position the business for future success. These include the debt re-profiling that will give us the financial capability to acquire and invest in properties over the next few years and the commencement of the acquisition programme with the purchase of three standalone sites and 19 Orchid sites that further improve prospects for growth.”
The incentives are based on earnings per share (EPS) performance conditions.
