13 Remuneration of Managing Board and Supervisory Board

Disclosure of the total board remuneration is based on section 383 book 2 of the Dutch Civil Code. Furthermore, the members of the Executive Committee (which includes the Managing Board) and the Supervisory Board meet the definition of key management personnel as defined in IAS 24 ‘Related Parties’. IAS 24 requires disclosure of the total of short-term employee benefits (salary and short-term incentive), post-employment (pension expenditure) and other long-term benefits (none), termination benefits and share based payment cost (Share-based compensation), which are reported in the table below:

Key management personnel compensation and total board remuneration

x € thousand

2019

2018

Salary

4,695

4,215

Short-term incentive

2,565

3,387

Pension Expenditure

982

869

Share-based compensation

6,494

4,799

Supervisory Board remuneration

826

696

Other1

2,022

1,393

Total key management personnel compensation

17,584

15,359

Of which: Managing Board remuneration

7,705

7,836

  1. Includes €1,265,000 (2018: €727,000), subject to article 32bb of the Dutch Wage Tax Act, being in fact a penalty to the company due to vesting of already granted share units in previous years.

Heerlen, 26 February 2020

Heerlen, 26 February 2020

 
 

Managing Board,

Supervisory Board,

 
 

Geraldine Matchett, Co-CEO

Rob Routs, Chair

Dimitri de Vreeze, Co-CEO

Pauline van der Meer Mohr, Deputy Chair

 

Victoria Haynes

 

Eileen Kennedy

 

Erica Mann

 

Frits van Paasschen

 

Pradeep Pant

 

John Ramsay

Notes

  1. Summary of the accounting policies
  2. Intangible assets
  3. Property, plant and equipment
  4. Financial assets
  5. Deferred tax assets
  6. Receivables
  7. Shareholders' equity
  1. Borrowings
  2. Other current liabilities
  3. Contingent liabilities
  4. Personnel
  5. Financial income and expense
  6. Remuneration of Managing Board and Supervisory Board