40 Franchise Brands plc Annual Report and Accounts 2018 Directors’ remuneration (audited) The aggregate remuneration payable to the Directors for the year ended 31 December 2018 was as follows: Director Salary or fees (£) Benefits in kind (£) Pension contributions (£) Total (£) 2017 comparison (£)3 Stephen Hemsley 100,000 – – 100,000 59,812 Chris Dent1 100,000 7,800 2,000 109,800 49,477 Julia Choudhury 85,000 – – 85,000 120,000 Tim Harris 120,345 8,400 683 129,428 125,201 Peter Molloy2 90,000 10,306 1,800 102,106 – Colin Rees2 63,750 – 509 64,259 – Robin Auld3 28,333 – 228 28,561 70,098 Nigel Wray 20,000 – – 20,000 16,667 David Poutney 25,000 – – 25,000 21,667 Rob Bellhouse 25,000 – – 25,000 21,667 Notes: 1 Chris Dent served as a Director of the Company from 17 July 2017. 2 Peter Molloy and Colin Rees served as a Director of the Company from 21 March 2018. 3 Robin Auld ceased to serve as a Director of the Company from 25 April 2018. No Director made any gains on exercise of a share option during the year or received any remuneration from a third party in respect of their service as a Director of the Company. As seen from the table above, five Directors are currently accruing retirement benefits, and do so through defined contribution schemes. The Company does not operate a defined benefits scheme. No Director or former Director received any benefits from a retirement benefits scheme that were not otherwise available to all members of the scheme. Directors’ share options (audited) Details of options held under the Company’s LTIP by the Directors who served during the year are as follows: Changes in the year Director Date of grant Exercise price (pence) Performance condition 2017 Number of shares Granted Exercised Lapsed 2018 Number of shares Exercisable from Exercisable to Chris Dent 12-Dec-17 49.5 EPS growth 303,030 – – – 303,030 12-Dec-20 12-Dec-27 11-Dec-18 69 EPS growth – 21,970 – – 21,970 11-Dec-21 11-Dec-28 Julia 01-Aug-16 33 EPS growth 303,030 – – – 303,030 01-Aug-20 01-Jul-26 Choudhury 11-Dec-18 69 EPS growth – 71,970 – – 71,970 11-Dec-21 11-Dec-28 Tim Harris 01-Aug-16 33 EPS growth 303,030 – – – 303,030 01-Aug-20 01-Jul-26 11-Dec-18 69 EPS growth – 71,970 – – 71,970 11-Dec-21 11-Dec-28 Peter Molloy 11-Apr-17 67 EPS growth 150,000 – – – 150,000 11-Apr-20 11-Apr-27 12-Dec-17 49.5 EPS growth 153,030 – – – 153,030 12-Dec-20 12-Dec-27 11-Dec-18 69 EPS growth – 106,000 – – 106,000 11-Dec-21 11-Dec-28 Colin Rees 12-Dec-17 49.5 EPS growth 303,030 – – – 303,030 12-Dec-20 12-Dec-27 11-Dec-18 69 EPS growth – 71,970 – – 71,970 11-Dec-21 11-Dec-28 During 2018 the closing mid-market quote for the Company’s shares ranged from a low of 53.6p to a high of 89.5p. As seen from the table above, no Director exercised an option over the Company’s shares during the year. DIRECTORS’ REMUNERATION REPORT continued