Vistry is proposing increasing its chief executives overall maximum pay package by £2.2m a year.

The housebuilder, in a notice to shareholders, has outlined the board’s plans for a large increase in chief executive Greg Fitzgerald’s pay.

Vistry is proposing increasing Fitzgerald’s base salary by 5.9%, from £755,215 to £800,000. It also wants to raise his maximum annual bonus to 300% of salary instead of 150% in 2023 while a separate ‘long-term incentive plan’ bonus would increase from 200% to 300% from next year. This means Fitzgerald’s total package limit would increase from £3.4m to £5.6m a year.