The compensation structure for members of the Board of Directors follows the outlined compensation concept for the performance year 2015.
According to the aforementioned guidelines, remuneration of members of the Board of Directors is made up of the following components:
a) Annual basic fee
b) Committee membership fees
c) Share-based remuneration
Since the performance year 2012, the Board of Directors has decided to abandon option-based compensation for non-executive directors. It was replaced by the grant of restricted stock to enable the Board to participate in the long-term value creation of the company. In addition a new compensation policy was implemented with effective date 1 April 2012, which focuses more on a stronger acknowledgment of responsibilities and activities inside the committees.
The following graph illustrates the relative structure of the three components for 2015:
RELATIVE STRUCTURE OF TOTAL COMPENSATION (BOARD OF DIRECTORS)
in % of total compensation
|
Chairman of the Board |
Vice Chairman of the Board |
Member of the Board of Directors |
Total 2015 |
Total 2014 |
|||||||||
|
||||||||||||||
Cash compensation |
|
|
||||||||||||
Honorarium1 |
300 000 |
200 000 |
100 000 |
1 100 000 |
1 100 000 |
|||||||||
Committee fee1 |
According to individual activity (see table below) |
730 000 |
730 000 |
|||||||||||
Social contribution |
|
|
||||||||||||
Relevant amount |
According to individual situation2 |
|
|
|||||||||||
Shares |
|
|
||||||||||||
Value (at grant) |
200 000 |
150 000 |
100 000 |
950 000 |
950 000 |
|||||||||
|
Chair |
Member |
||
Chairman’s Committee |
120 000 |
60 000 |
||
Audit Committee |
80 000 |
40 000 |
||
Compensation Committee |
60 000 |
30 000 |
||
Technology & Innovation Committee |
60 000 |
30 000 |
In order to fulfill the reporting needs outlined in the Ordinance against Excessive Compensation (OaEC) we will disclose the relevant Fair Market Value (FMV) figures for the calendar year in the following audited table.
|
Rudolf Wehrli |
Günter von Au |
Peter Isler |
Peter Chen |
Dominik Koechlin3 |
Carlo G. Soave |
Hariolf Kottmann1 |
Dolf Stockhausen |
Konstantin Winterstein |
Susanne Wamsler |
Totals 2015 |
|||||||||||||||||||
|
||||||||||||||||||||||||||||||
Cash compensation |
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Honorarium |
300 000 |
200 000 |
100 000 |
100 000 |
91 668 |
100 000 |
0 |
25 000 |
100 000 |
75 000 |
1 091 668 |
|||||||||||||||||||
Committee fee |
150 000 |
100 000 |
147 500 |
60 000 |
58 334 |
127 500 |
0 |
7 500 |
40 000 |
22 500 |
713 334 |
|||||||||||||||||||
Social contribution |
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Relevant amount4 |
44 465 |
30 723 |
20 552 |
17 927 |
13 305 |
41 5812 |
0 |
4 734 |
0 |
10 302 |
183 590 |
|||||||||||||||||||
Shares |
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Fair market value (FMV) |
200 005 |
150 008 |
100 011 |
100 011 |
25 003 |
100 011 |
0 |
25 003 |
100 011 |
75 008 |
875 071 |
|||||||||||||||||||
Total 2015 (Fair market value 2015) |
694 470 |
480 731 |
368 063 |
277 938 |
188 310 |
369 092 |
0 |
62 237 |
240 011 |
182 810 |
2 863 663 |
|||||||||||||||||||
|
Rudolf Wehrli |
Günter von Au |
Peter Isler |
Peter Chen |
Dominik Koechlin3 |
Carlo G. Soave |
Hariolf Kottmann1 |
Dolf Stockhausen |
Konstantin Winterstein |
Totals 2014 |
||||||||||||||||||||
|
||||||||||||||||||||||||||||||
Cash compensation |
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Honorarium |
300 000 |
200 000 |
100 000 |
100 000 |
100 000 |
100 000 |
0 |
100 000 |
100 000 |
1 100 000 |
||||||||||||||||||||
Committee fee |
150 000 |
90 000 |
140 000 |
60 000 |
100 000 |
120 000 |
0 |
30 000 |
40 000 |
730 000 |
||||||||||||||||||||
Social contribution |
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Relevant amount |
41 786 |
30 039 |
20 089 |
24 286 |
20 747 |
23 211 |
0 |
12 895 |
0 |
173 053 |
||||||||||||||||||||
Shares |
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Fair market value (FMV)5 |
200 005 |
150 008 |
100 011 |
100 011 |
100 011 |
100 011 |
0 |
100 011 |
100 011 |
950 079 |
||||||||||||||||||||
Total 2014 (Fair market value 2014)5 |
691 791 |
470 047 |
360 100 |
284 297 |
320 758 |
343 222 |
0 |
242 906 |
240 011 |
2 953 132 |
||||||||||||||||||||
In both years there were no payments to former members of the Board of Directors nor were any loans or credits outstanding and or granted.
Please find on the below the information about the actual share and option ownership of the Board of Directors.
|
Number of shares granted for 20151 |
Number of shares granted for 20142 |
Number of shares within vesting period for 2015 |
Number of shares within vesting period for 2014 |
Number of |
Number of |
||||||||||||||
|
||||||||||||||||||||
Rudolf Wehrli |
11 765 |
11 765 (correction of 12 904) |
0 |
0 |
54 897 |
43 132 |
||||||||||||||
Günter von Au |
8 824 |
8 824 (correction of 9 678) |
0 |
0 |
35 556 |
26 732 |
||||||||||||||
Peter Isler |
5 883 |
5 883 (correction of 6 452) |
0 |
0 |
116 204 |
64 375 |
||||||||||||||
Peter Chen |
5 883 |
5 883 (correction of 6 452) |
0 |
0 |
18 704 |
12 821 |
||||||||||||||
Dominik Koechlin |
0 |
5 883 (correction of 6 452) |
0 |
0 |
– |
23 921 |
||||||||||||||
Carlo G. Soave |
5 883 |
5 883 (correction of 6 452) |
0 |
0 |
33 804 |
27 921 |
||||||||||||||
Hariolf Kottmann |
–3 |
–3 |
–3 |
–3 |
–3 |
–3 |
||||||||||||||
Susanne Wamsler |
5 883 |
– |
0 |
– |
955 1714 |
– |
||||||||||||||
Konstantin Winterstein |
5 883 |
5 883 (correction of 6 452) |
0 |
0 |
6 008 744 |
6 002 861 |
||||||||||||||
Former BoD members |
0 |
5 883 (correction of 6 452) |
0 |
0 |
– |
11 594 625 |
||||||||||||||
Total |
50 004 |
55 887 (correction of 61 294) |
0 |
0 |
7 223 080 |
17 796 388 |
||||||||||||||
|
Number of options granted for 2015 |
Number of options granted for 2014 |
Number of options within vesting period for 2015 |
Number of options within vesting period for 2014 |
Number of privately held options for 2015 |
Number of privately held options for 2014 |
||||||||
|
||||||||||||||
Rudolf Wehrli |
0 |
0 |
0 |
0 |
0 |
30 120 |
||||||||
Günter von Au |
0 |
0 |
0 |
0 |
0 |
0 |
||||||||
Peter Isler |
0 |
0 |
0 |
0 |
0 |
47 946 |
||||||||
Peter Chen |
0 |
0 |
0 |
0 |
0 |
0 |
||||||||
Dominik Koechlin |
0 |
0 |
0 |
0 |
24 096 |
47 946 |
||||||||
Carlo G. Soave |
0 |
0 |
0 |
0 |
24 096 |
24 096 |
||||||||
Hariolf Kottmann |
–1 |
–1 |
–1 |
–1 |
–1 |
–1 |
||||||||
Susanne Wamsler |
0 |
0 |
0 |
0 |
0 |
0 |
||||||||
Konstantin Winterstein |
0 |
0 |
0 |
0 |
0 |
0 |
||||||||
Former BoD members |
0 |
0 |
0 |
0 |
0 |
– |
||||||||
Total |
0 |
0 |
0 |
0 |
48 192 |
150 108 |
||||||||
The compensation for members of the Board of Directors is subject to the Swiss taxation and social security laws, with Clariant paying the employer contributions which are required. The members of the Board of Directors do not receive any lump-sum reimbursement of entertainment expenses above and beyond actual expenditure on business trips. For additional information for the Board of Directors, refer to Note 14 of the Notes to the Financial Report of Clariant Ltd.