At the 2022 Annual General Meeting a maximum total remuneration to the Group Management of TCHF 2 900 was awarded for the financial year 2023.
The total remuneration paid to the current members of the Group Management in the financial year 2023 amounted to TCHF 2 366. No remuneration was paid to former members of the Group Management. In 2023 the Group Management consisted of three members including the CEO. In 2022 the Group Management consisted of two members from January to September and of three members from October to December.
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 2023 |
||||||
|
in CHF 1 000 |
Basic |
STI |
PSOP 1) |
PSP 2) |
Other 3) |
Total |
|
All members |
1 092 |
593 |
200 |
200 |
280 |
2 366 |
|
Thereof Alexander Hagemann, CEO 4) |
508 |
296 |
100 |
100 |
138 |
1 142 |
1) 13 487 Performance stock options (PSOs) with an exercise price of CHF 42.90 and a market value of CHF 14.83 each were granted to members of the Group Management as of 1 January 2023. The PSOs vest subject to meeting the performance and service conditions on 1 January 2026 and may then be exercised until 31 December 2029.
2) 4 577 restricted share units (RSUs) with a market value of CHF 43.69 each were granted to members of the Group Management as of 1 January 2023. Each RSU converts into up to two Cicor shares subject to meeting the performance and service conditions on 1 January 2026 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 2023.
The share of variable remuneration of the Group Management in the financial year 2023 amounted to 44% of the total remuneration and the STI amount awarded for the year reflects an average achievement factor of 138% of the targets set for the year.
The total remuneration of the Group Management has increased in the financial year 2023 compared to the prior year. The reasons for the increase are the expansion of the Group Management team from two to three members from 1 October 2022, better target achievement in the STI-plan and salary increases.
|
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 the financial year 2022 amounted to 39% of the total remuneration and the STI amount awarded for the year reflects an average achievement factor of 90% of the targets set for the year.
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.