Barclays is expected to hand its top directors additional shares as part of a revamped scheme to sidestep the European Union's cap on bankers' bonuses.
Senior executives are likely to receive shares, alongside their salaries and benefits, under a scheme being revised following shareholder lobbying.
In discussions with investors, the bank had considered providing top bankers additional payments in cash, but Sky News reported that these amounts would more likely be paid in shares. Barclays declined to comment.
The new rules came into force last week, and limit bonuses to the same amount as annual salaries or to twice the size if shareholders approve. Recent data from European banking regulators showed average bonuses for top-paid staff in the City were nearly four times their bonuses. George Osborne is opposed to the bonus cap.
In a memo to staff in its investment bank in November, Barclays said: "For those employees who will be affected in 2014, Barclays will introduce a new non-pensionable class of fixed pay, called role-based pay, with effect from 1 January 2014. It will be paid in cash at the same time, and in addition to, salary and any additional fixed payment." It will typically be reviewed and set annually, at the start of the year, "and may be adjusted up or down".
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