In 2020, when Sanlam CEO Paul Hanratty started his job, it was with a rather unusual CEO pay structure.
He was awarded five million Sanlam shares that could be cashed out after five years. This was instead of a mix of a salary, share awards and bonuses which most CEOs receive.
Hanratty's contract ensured that 10% of his final payout is guaranteed, and to this end he is paid a set amount of R6.13 million in cash every year for five years.