3. Activities of the Remuneration Committee: Sessions held, business transacted, reports and attendees

As stated in section 1 above, the former Nomination and Remuneration Committee was split on 9 June 2015 into two separate committees: the Nomination Committee and the Remuneration Committee. To be consistent with the rest of the report, and for a better understanding thereof, two tables are shown below: the first one, with an overview of the main business transacted by the Nomination and Remuneration Committee from 1 February through 8 June 2015, regarding the duties and powers currently incumbent on the Remuneration Committee; and the second, with an overview of the main business transacted by the Remuneration Committee since its establishment until FY2015 year-end.

The main activities of the Nomination Committee and the Remuneration Committee from 1 February through 8 June 2015 regarding the duties and powers currently incumbent on the Remuneration Committee are summarized below:

Date of meeting Main business transacted Reports and motions submitted to the Board of Directors Inditex’s attendees
03/16/2015
  • Terms of the contractual relationship and the remuneration of the Executive Chairman.
  • Main terms and conditions of the contracts and Remuneration Policy for Senior Executives of the Inditex Group.
  • Annual Report on the Remuneration of Directors.
  • Report on the 2013-2016 Long-term Performance Cash Plan.
  • Extraordinary plan for employees participating in the economic benefits of the Inditex Group.
  • Annual Report on the Remuneration of Directors.
  • Report on the transaction with related parties between Grupo Massimo Dutti, S.A. and Grilse, S.L.
  • Remuneration Policy for Senior Executives.
  • Report on the 2013-2016 Long-term Performance Cash Plan.
  • Mr Pablo Isla Álvarez de Tejera, Executive Chairman.
  • MrAntonio Abril Abadín, General Counsel and Secretary of the Board.
  • Mr Pablo Francesch Huidobro, Director of the Legal Labour Department.
  • Ms Begoña López-Cano Ibarreche, Human Resources Director.
  • Mr Ignacio Fernández Fernández, Chief Financial Officer.
06/08/2015
  • Adaptation of the remuneration of directors as a result of the split of the Nomination and Remuneration Committee into two separate committees.
  • Mr Antonio Abril Abadín, General Counsel and Secretary of the Board.

The main activities of the Remuneration Committee, from its establishment to FY2015 year-end (31 January 2016) are summarized in the table below:

Date of meeting Main business transacted Reports and motions submitted to the Board of Directors Inditex’s attendees
12/02/2015
  • Report on the evaluation of the Committee and the performance of its members.
  • Report of the Human Resources Department.
  • Report on the evaluation of the Committee and the performance of its members.
  • Mr Pablo Isla Álvarez de Tejera, Executive Chairman.
  • Ms Begoña López-Cano Ibarreche, Human Resources Director.
  • Ms Belén Montenegro Borrás, member of the Human Resources Department.

Likewise, after expiry of FY2015, the Nomination Committee has carried out the following proceedings:

  • Report on the 2016-2020 Long-Term Incentive Plan and on the 2013-2016 Long-Term Performance Cash Plan.
  • Motion regarding the remuneration of the Executive Chairman for the discharge of executive duties that the Remuneration Committee submits to the Board of Directors.

Motion regarding the remuneration of Senior Executives for the discharge of executive duties that the Remuneration Committee submits to the Board of Directors.

  • Extraordinary plan for employees participating in the economic benefits of the Inditex Group.
  • 2015 Annual Report on the Remuneration of Directors.