The company’s hilariously mis-named “long-term incentive plan” – short-term fill-yer-boots, would be more accurate – has already seen CEO Jeffrey Fairburn being awarded a £112 million bonus.
The company’s regional managers are expected to pocket the largest chunk of the payout.
Mr Fairburn declined the full amount after getting up to £75 million, and putting aside some of the remainder for charitable causes.
But this has not satisfied Aberdeen Standard Investments, which “is understood to be exploring whether it can prosecute Mr Fairburn over his reduced £75 million bonus”, according to the Daily Telegraph.
The Telegraph says of the bonus scheme that it is “thought to be the most generous LTIP ever undertaken by a UK corporate”.
Taxpayers will be delighted to know that Jeff’s payola and that of his cronies is funded in large part via the Help To Buy scheme.
The Conservative government fuelled a housebuilding boom, only to find that these lovable little scamps in the housing sector decided to stuff their customers with leasehold tenure and “fleecehold” complex estate management contracts.
In the case of Persimmon, this saw the share price rise from £6.57 in 2012 to around £25.33 today.