At the 2023 Annual General Meeting a maximum total remuneration to the Group Management of TCHF 3 900 was awarded for the financial year 2024.
The total remuneration paid to the current members of the Group Management in the financial year 2024 amounted to TCHF 3 247. 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 2024 |
||||||
|
in CHF 1 000 |
Basic |
STI |
PSOP 1) |
PSP 2) |
Other 3) |
Total |
|
All members |
1 168 |
692 |
520 |
520 |
348 |
3 247 |
|
Thereof Alexander Hagemann, CEO 4) |
528 |
351 |
264 |
264 |
168 |
1 575 |
1) 44 180 Performance stock options (PSOs) with an exercise price of CHF 49.80 and a market value of CHF 11.77 each were granted to members of the Group Management as of 1 January 2024. The PSOs vest subject to meeting the performance and service conditions on 1 January 2027 and may then be exercised until 31 December 2030.
2) 10 726 restricted share units (RSUs) with a market value of CHF 48.48 each were granted to members of the Group Management as of 1 January 2024. Each RSU converts into up to two Cicor shares subject to meeting the performance and service conditions on 1 January 2027 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 2024.
The share of variable remuneration of the Group Management in the financial year 2024 amounted to 56% of the total remuneration and the STI amount awarded for the year reflects an average achievement factor of 133% of the targets set for the year.
The total remuneration of the Group Management has increased in the financial year 2024 compared to the prior year. The reasons for the increase are increases in the basic salary and increases in the granted rights under both the PSOP and the PSP.
|
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.