June 13, 2013 8:58 pm
Ms Ahrendts, who was this week named as the highest paid FTSE 100 chief executive for the previous year, took home £15.6m in the year to March 2012, after she cashed in £11.9m of shares awarded under long-term incentive schemes.
In the year to March 31 2013, Ms Ahrendts exercised 280,000 shares at £12.66 each, worth £3.54m.
She also received pay of £3.26m, down from the £3.69m in 2012, after her bonus fell from £1.98m to £1.55m.
Burberry said Ms Ahrendts received 75 per cent of the bonus she was entitled to, and she would reinvest her bonus into a company share-matching scheme.
It also said the “strategic and financial objectives” for 500,000 shares to vest on April 1 2015 had been “achieved in full during 2012/13.” The shares were worth £6.75m at Thursday’s close.
Stacey Cartwright, who will step down as finance director at Burberry’s annual meeting next month, received total remuneration of £1.54m, down from £1.69m in the year earlier, after her bonus fell from £900,000 to £698,000.
Burberry said Ms Cartwright did not receive a pay-off. Ms Cartwright exercised 135,000 shares worth £1.64m in July 2012. The company said all her outstanding share awards would lapse when she left.
Burberry said: “Under the leadership of Angela Ahrendts and her senior team, Burberry has generated exceptional returns for shareholders in a period characterised by economic turbulence. Burberry continued this growth in 2012/13, delivering another year of record revenue and profit for shareholders. Adjusted earnings per share increased 14 per cent and the full year dividend has been raised by 16 per cent.”
Since Ms Ahrendts took over in 2006, Burberry’s share price has roughly trebled, largely on the back of booming demand in China for Burberry’s staple products of expensive trenchcoats and accessories.
The group has leapt into the digital market, with livestreamed catwalk shows, and even its own social media site. It has also brought its beauty division in-house and expanded its retail stores rapidly, particularly in China, where it has taken direct control of its stores.
However a profit warning in September wiped a fifth off the group’s market capitalisation, due largely to worries about its sales in China.
Ms Cartwright was well regarded, and the shares fell almost 7 per cent when her departure was announced in February.
Please don't cut articles from FT.com and redistribute by email or post to the web.