At the 2021 Annual General Meeting a maximum basic remuneration of TCHF 1 000 and a maximum variable remuneration of TCHF 750 was awarded for the financial year 2022. Additional amounts of TCHF 700 for the basic remuneration and TCHF 450 for the variable remuneration were awarded at the Annual General Meeting 2022 for additional members of the Group Management. The total remuneration awarded by the Annual General Meeting for the financial year 2022 sums up to a maximum basic remuneration of TCHF 1 700 and a maximum variable remuneration of TCHF 1 200.
The total remuneration paid to the current members of the Group Management in the financial year 2022 amounted to TCHF 1 736. No remuneration was paid to former members of the Group Management.
No loans, credit facilities or additional fees or remuneration were paid to members of the Group Management or parties related to them.
The remuneration paid to the members of the Group Management was as follows:
|
Remuneration of Group Management in financial year 2022 |
||||||
|
in CHF 1 000 |
Basic |
STI |
PSOP 1) |
PSP 2) |
Other 3) |
Total |
|
All members |
874 |
315 |
170 |
170 |
208 |
1 736 |
|
Thereof Alexander Hagemann, CEO 4) |
500 |
180 |
100 |
100 |
124 |
1 004 |
1) 10 385 Performance stock options (PSOs) with an exercise price of CHF 52.80 and a market value of CHF 16.37 each were granted to members of the Group Management as of 1 January 2022. The PSOs vest subject to meeting the performance and service conditions on 1 January 2025 and may then be exercised until 31 December 2028.
2) 3 189 restricted share units (RSUs) with a market value of CHF 53.31 each were granted to members of the Group Management as of 1 January 2022. Each RSU converts into up to two Cicor shares subject to meeting the performance and service conditions on 1 January 2025, which will then be transferred to the beneficiaries.
3) Other includes the employer's portion of social security, contributions to pension funds and other fringe benefits.
4) Alexander Hagemann was the member with the highest individual remuneration in 2022.
The share of variable remuneration of the Group Management in financial year 2022 amounted to 39% of the total remuneration.
Members of the Group Management purchased 16 714 SARs (thereof 10 714 were purchased by Alexander Hagemann) for a consideration of CHF 1.00 per each SAR as part of the MIP in financial year 2022.
The total remuneration of the Group Management has increased in financial year 2022 compared to the prior year. The main reason for the increase is that Marco Kechele joined Cicor as of 1 October 2022 and the Group Management now consists of three individuals.
|
Remuneration of Group Management in financial year 2021 |
||||||
|
in CHF 1 000 |
Basic |
STI |
LTI 1) |
|
Other 2) |
Total |
|
All members |
820 |
423 |
200 |
|
184 |
1 627 |
|
Thereof Alexander Hagemann, CEO 3) |
500 |
241 |
200 |
|
114 |
1 055 |
1) 3 746 performance share awards (PSA) with a market value of CHF 53.40 each were granted to members of the Group Management as of 1 May 2021. Each PSA converts into up to two Cicor shares subject to meeting the performance and service conditions on 1 May 2024, which will then be transferred to the beneficiaries.
2) Other includes the employer's portion of social security, contributions to pension funds and other fringe benefits.
3) Alexander Hagemann was the member with the highest individual remuneration in 2021.
The share of variable remuneration of the Group Management in financial year 2021 amounted to 40% of the total remuneration.