At the 2024 Annual General Meeting a maximum total remuneration to the Group Management of TCHF 5 000 was awarded for the financial year 2025.
The total remuneration paid to the current members of the Group Management in the financial year 2025 amounted to TCHF 4 564. 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 2025 | |||||||
in CHF 1 000 | Basic | STI | PSOP 1) | PSP 2) | Special incentive3) | Other 4) | Total |
All members | 1 204 | 669 | 536 | 536 | 1 200 | 420 | 4 564 |
Thereof Alexander Hagemann, CEO 5) | 540 | 338 | 270 | 270 | 440 | 194 | 2 051 |
1)47 065 performance stock options (PSOs) with an exercise price of CHF 60.00 and a market value of CHF 11.38 each were granted to members of the Group Management as of 1 January 2025. The PSOs vest subject to meeting the performance and service conditions on 1 January 2028 and may then be exercised until 31 December 2031.
2)9 264 restricted share units (RSUs) with a market value of CHF 57.82 each were granted to members of the Group Management as of 1 January 2025. Each RSU converts into up to two Cicor shares subject to meeting the performance and service conditions on 1 January 2028 which will then be transferred to the beneficiaries.
3)3 170 restricted share units (RSUs) with a market value of CHF 189.30 each were granted to members of the Group Management as of 1 September 2025. Each RSU converts into up to two Cicor shares subject to meeting the performance and service conditions on 1 January 2028 which will then be transferred to the beneficiaries. 3 215 Cicor shares with a market value of CHF 186.55 were allocated to members of the Group Management as of 1 September 2025. The shares are blocked for disposal for a period of three years ending on 30 August 2028.
4)Other includes the employer’s portion of social security, contributions to pension funds and other fringe benefits.
5)Alexander Hagemann was the member with the highest individual remuneration in 2025.
On 1 September 2025, the Board of Directors granted Group Management a one-time special incentive of TCHF 1 200. The one-off incentive recognises Group Management’s exceptional delivery in surpassing the milestones set for the implementation of Cicor’s Strategy 2028. The incentive takes the form of share-based compensation. Half of the incentive was granted in the form of restricted share units (RSUs) in accordance with the rules of the PSP 2025–2027, and half was granted as an immediate allocation of shares that are blocked from disposal for a period of three years.
The share of variable remuneration of the Group Management in the financial year 2025 amounted to 68% of the total remuneration and the STI amount awarded for the year reflects an average achievement factor of 125% of the targets set for the year.
The total remuneration of the Group Management has increased in the financial year 2025 compared to the prior year. The reasons for the increase is the special one-time M&A incentive for the achievements in pursuing Cicor’s M&A strategy.
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.