In accordance with the requirements of the GAS 17, the members of the Management Board collectively received in the 2017 financial year compensation totaling € 37,665,535 (2016: € 26,691,178). Of that, € 29,200,000 (2016: € 25,883,333) was for base salaries, € 2,053,520 (2016: € 807,845) for fringe benefits and € 5,862,015 (2016: € 0) for performance-related components.
In accordance with German Accounting Standard No. 17, the Restricted Incentive Awards, as a deferred, non-equity-based compensation component subject to certain (forfeiture) conditions, must be recognized in the total compensation for the year of their payment (i.e., in the financial year in which the unconditional payment takes place) and not in the year they are originally granted. Based on this the Management Board members individually received the following compensation components for their service on the Management Board for or in the years 2017 and 2016, including the non-performance-related fringe benefits.
Compensation according to GAS 17 |
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|
John Cryan |
Kimberly Hammonds1 |
Stuart Lewis |
Sylvie Matherat |
||||||
in € |
2017 |
2016 |
2017 |
2016 |
2017 |
2016 |
2017 |
2016 |
||
|
||||||||||
Compensation |
|
|
|
|
|
|
|
|
||
Performance-related components |
|
|
|
|
|
|
|
|
||
With short-term incentives |
|
|
|
|
|
|
|
|
||
Cash |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
||
With long-term incentives |
|
|
|
|
|
|
|
|
||
Cash-based |
|
|
|
|
|
|
|
|
||
Restricted Incentive Award(s) paid |
0 |
0 |
0 |
0 |
936,228 |
0 |
0 |
0 |
||
Share-based |
|
|
|
|
|
|
|
|
||
Equity Upfront Award(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
||
Restricted Equity Award(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
||
Non-performance-related components |
|
|
|
|
|
|
|
|
||
Base salary |
3,400,000 |
3,800,000 |
2,400,000 |
1,000,000 |
2,400,000 |
2,400,000 |
2,400,000 |
2,400,000 |
||
Functional allowance |
0 |
0 |
0 |
0 |
300,000 |
0 |
0 |
0 |
||
Fringe benefits |
220,982 |
41,795 |
260,489 |
6,035 |
206,628 |
77,938 |
16,338 |
12,905 |
||
Total |
3,620,982 |
3,841,795 |
2,660,489 |
1,006,035 |
3,842,856 |
2,477,938 |
2,416,338 |
2,412,905 |
||
|
James von Moltke1 |
Nicolas Moreau2 |
Garth Ritchie |
Karl von Rohr |
||||||||
in € |
2017 |
2016 |
2017 |
2016 |
2017 |
2016 |
2017 |
2016 |
||||
|
||||||||||||
Compensation |
|
|
|
|
|
|
|
|
||||
Performance-related components |
|
|
|
|
|
|
|
|
||||
With short-term incentives |
|
|
|
|
|
|
|
|
||||
Cash |
355,404 |
- |
0 |
0 |
0 |
0 |
0 |
0 |
||||
With long-term incentives |
|
|
|
|
|
|
|
|
||||
Cash-based |
|
|
|
|
|
|
|
|
||||
Restricted Incentive Award(s) paid |
0 |
- |
0 |
0 |
0 |
0 |
0 |
0 |
||||
Share-based |
|
|
|
|
|
|
|
|
||||
Equity Upfront Award(s) |
355,404 |
- |
0 |
0 |
0 |
0 |
0 |
0 |
||||
Restricted Equity Award(s) |
2,547,407 |
- |
0 |
0 |
0 |
0 |
0 |
0 |
||||
Non-performance-related components |
|
|
|
|
|
|
|
|
||||
Base salary |
1,200,000 |
- |
2,400,000 |
600,000 |
3,000,000 |
2,400,000 |
2,400,000 |
2,400,000 |
||||
Functional allowance |
0 |
- |
0 |
0 |
250,000 |
0 |
0 |
0 |
||||
Fringe benefits |
473,299 |
- |
59,383 |
5,239 |
269,457 |
110,241 |
23,642 |
47,730 |
||||
Total |
4,931,514 |
- |
2,459,383 |
605,239 |
3,519,457 |
2,510,241 |
2,423,642 |
2,447,730 |
||||
|
Dr. Marcus Schenck |
Christian Sewing |
Werner Steinmüller1 |
Frank Strauß2 |
||||||||
in € |
2017 |
2016 |
2017 |
2016 |
2017 |
2016 |
2017 |
2016 |
||||
|
||||||||||||
Compensation |
|
|
|
|
|
|
|
|
||||
Performance-related components |
|
|
|
|
|
|
|
|
||||
With short-term incentives |
|
|
|
|
|
|
|
|
||||
Cash |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
- |
||||
With long-term incentives |
|
|
|
|
|
|
|
|
||||
Cash-based |
|
|
|
|
|
|
|
|
||||
Restricted Incentive Award(s) paid |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
- |
||||
Share-based |
|
|
|
|
|
|
|
|
||||
Equity Upfront Award(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
- |
||||
Restricted Equity Award(s) |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
- |
||||
Non-performance-related components |
|
|
|
|
|
|
|
|
||||
Base salary |
2,900,000 |
2,400,000 |
2,900,000 |
2,400,000 |
2,400,000 |
1,000,000 |
800,000 |
- |
||||
Functional allowance |
0 |
0 |
0 |
0 |
0 |
0 |
0 |
- |
||||
Fringe benefits |
16,148 |
23,720 |
80,307 |
204,758 |
399,424 |
165,001 |
26,893 |
- |
||||
Total |
2,916,148 |
2,423,720 |
2,980,307 |
2,604,758 |
2,799,424 |
1,165,001 |
826,893 |
- |
||||
|
Jeffrey Urwin1 |
Jürgen Fitschen2 |
Quintin Price3 |
Total |
||||||||||
in € |
2017 |
2016 |
2017 |
2016 |
2017 |
2016 |
2017 |
2016 |
||||||
|
||||||||||||||
Compensation |
|
|
|
|
|
|
|
|
||||||
Performance-related components |
|
|
|
|
|
|
|
|
||||||
With short-term incentives |
|
|
|
|
|
|
|
|
||||||
Cash |
0 |
0 |
- |
0 |
- |
0 |
355,404 |
0 |
||||||
With long-term incentives |
|
|
|
|
|
|
|
|
||||||
Cash-based |
|
|
|
|
|
|
|
|
||||||
Restricted Incentive Award(s) paid |
0 |
0 |
1,667,572 |
0 |
- |
0 |
2,603,800 |
0 |
||||||
Share-based |
|
|
|
|
|
|
|
|
||||||
Equity Upfront Award(s) |
0 |
0 |
- |
0 |
- |
0 |
355,404 |
0 |
||||||
Restricted Equity Award(s) |
0 |
0 |
- |
0 |
- |
0 |
2,547,407 |
0 |
||||||
Non-performance-related components |
|
|
|
|
|
|
|
|
||||||
Base salary |
600,000 |
2,400,000 |
- |
1,583,333 |
- |
1,100,000 |
29,200,000 |
25,883,333 |
||||||
Functional allowance |
0 |
0 |
- |
0 |
- |
0 |
550,000 |
0 |
||||||
Fringe benefits |
530 |
59,763 |
- |
38,937 |
- |
13,783 |
2,053,520 |
807,845 |
||||||
Total |
600,530 |
2,459,763 |
1,667,572 |
1,622,270 |
- |
1,113,783 |
37,665,535 |
26,691,178 |
||||||
In 2015 and 2016, the Supervisory Board had suspended the tranches of deferred compensation elements for the Management Board member Stuart Lewis (who was an active member during the reporting period), Jürgen Fitschen and nine other former Management Board members. In 2017, these Management Board members voluntarily waived their entitlement to a large part of their yet unpaid compensation and, in an agreement with the Supervisory Board, agreed that only € 31.4 million of the € 69.8 million of outstanding Variable Compensation will be disbursed. The compensation elements paid out (or delivered, in the case of equity-based elements) under this agreement in 2017 are included in the above table.
With respect to deferred awards scheduled to be delivered in the first quarter of 2018, the Supervisory Board has confirmed that the performance conditions relating to Group-wide IBIT for the 2017 financial year have been met.