Reward

Strategic advice across the full reward lifecycle

We provide our clients with commercially focused advice on all aspects of their remuneration and incentive arrangements. 

Our multi-disciplinary team advises listed and unlisted groups, private equity-backed companies and family offices on the design, implementation and operation of these arrangements. Whether incentivising employees at the startup stage or supporting leadership teams as they navigate complex transactions, we offer comprehensive and integrated advice.

Our expertise spans legal, tax, accounting, valuations and governance, enabling us to deliver robust commercially tailored solutions. We cover the full reward lifecycle, from design to support for business-as-usual operations, as well as reorganisations, IPOs or M&A transactions. We also guide clients through changes in the tax, employment or regulatory environment.

We are regularly involved in:

  • designing and implementing all forms of cash and share-based employee incentive plans;
  • structuring management equity and co-investment arrangements;
  • advising on carried interest and fund reward mechanisms, including multi-jurisdictional and phantom plans;
  • developing remuneration policies, governance frameworks and related disclosures;
  • advising on financial services remuneration regulation; and
  • navigating legal and tax issues which arise for internationally mobile executives.

The breadth and scope of our practice set us apart and enable us to deliver commercial and best-in-class advice to our clients. 

Work highlights include advising:

  • Preqin on the share plan options in relation to its sale to global investment manager BlackRock for £2.55bn;
  • Evelyn Partners on the incentive and share plans aspects of the sale of the professional services business;
  • Ferrari Group in relation to its IPO and specifically on the design and implementation of a new UK-compliant remuneration policy and the post-listing share incentives arrangement in which management will participate once the Company has listed;
  • Anglo American Platinum Limited on the UK remuneration and reward aspects of its demerger from the Anglo American plc group and its secondary listing on the London Stock Exchange;
  • Improbable on the establishment and operation of various incentive arrangements;
  • Banco Sabadell on the reward aspects of the proposed sale of TSB Banking Group plc for £2.65bn; and
  • Pandox on the share incentives aspects of its c.€1.4bn recommended cash offer for Dalata Hotel Group plc.
The strongest share-based incentive team in the City, in particular for private companies. A focus on corporate and tax expertise in the team distinguishes Macfarlanes from other firms.

The UK Legal 500 2025

What sets the team apart is the combination of superior technical efficiency and the pleasant nature with which they offer their services. They are highly competent, responsive and, above all, good people to work with. Their approach indicates that there is a willingness to empathise with the needs of the clients and offer solutions accordingly.

The UK Legal 500 2025

Macfarlanes is always able to find the right person for us.

Chambers UK 2025

Macfarlanes is very responsive and they are able to turn around our requests in a very timely manner.

Chambers UK 2025

Examples of our work

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