ZYC-REM-001 Remuneration & Incentives Policy
Purpose
To ensure Zeyro’s approach to pay and incentives promotes responsible behaviour, prevents conflicts of interest, and aligns with FCA expectations under SYSC 19D (MiFID Remuneration Code).
Scope
Applies to all Zeyro employees, directors, and contractors. Covers base pay, benefits, ownership participation, and any discretionary recognition schemes.
Policy Statement
Zeyro’s remuneration framework is simple, transparent, and designed to support good conduct and long-term stability. We do not pay variable or commission-based remuneration. All staff receive fixed pay appropriate to their role, and all are eligible to participate in Zeyro to One, our inclusive ownership model that rewards collective success, not individual risk-taking.
The framework ensures that:
remuneration does not encourage excessive risk-taking;
staff are rewarded for competence, integrity, and teamwork;
pay decisions are free from bias or discrimination; and
remuneration supports Zeyro’s culture of calm, fair, and ethical business.
Components of Remuneration
1. Fixed Pay
Determined by role, responsibility, and market benchmarks.
Reviewed annually by the Board.
Payroll is administered by Zeyro’s external accountants using Sage, who also manage HMRC reporting and payslips.
Payment is made in regular monthly instalments.
2. Benefits
May include pension contributions, paid leave, and professional training.
Benefits are applied consistently and proportionately.
3. Ownership Scheme – Zeyro to One
Represents Zeyro’s long-term value-sharing arrangement for all employees.
Awards are not performance bonuses and do not incentivise short-term outcomes.
Participation is subject to Board approval and published terms in Confluence.
Conduct and Performance Link
Performance assessments focus on behaviour and competence rather than financial outcomes. Remuneration decisions take account of adherence to:
Breach of conduct or regulatory rules may result in reduced pay progression or removal from ownership participation.
Roles and Responsibilities (RACI)
Role
Responsibility
Accountability
Consulted / Informed
Board
Approves remuneration framework; reviews fairness and compliance.
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MLRO / NED
MLRO (SMF 16 & 17)
Ensures remuneration aligns with FCA rules and culture objectives.
Board
Rippling HR / Accountants
Operational Management
Proposes role benchmarks; maintains HR data in Rippling.
MLRO
Board / Accountants
External Accountants
Administer payroll using Sage; manage HMRC filings.
MLRO
Board
All Staff
Uphold conduct standards; report concerns of unfairness or conflict.
MLRO
Board
Controls risk: ensures remuneration integrity and prevents pay-driven misconduct through separation of HR records and payroll administration.
Review
This policy is reviewed annually by the Board or sooner if there are changes to SYSC 19D, Zeyro’s ownership model, or payroll arrangements.
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