March 7, 2014 / 2:53 PM / 4 years ago

UK's RBS hands shares worth up to $30.5 million to directors

LONDON, March 7 (Reuters) - Part-nationalised Royal Bank of Scotland said it had handed shares worth up to 18.25 million pounds ($30.5 million) to directors under a long term incentive plan, risking a political backlash.

The bank, which is 81 percent owned by the British government, said it had awarded Chief Executive Ross McEwan shares worth up to 3 million pounds under the plan which will vest in 2017.

McEwan, who receives an annual salary of 1 million pounds, said when he was appointed last August that he didn’t want to be considered for an annual bonus for 2013 or 2014.

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