Philips 2013 Annual Report Download - page 182

34 11 Group financial statements 11.9 - 11.9
182 Annual Report 2013
The individual members of the Supervisory Board received, by virtue of the positions they held, the following remuneration (in euros):
membership committees other compensation1) total
20132)
J. van der Veer 110,000 20,500 5,000 135,500
J.J. Schiro 65,000 18,500 8,000 91,500
C.J.A. van Lede 65,000 10,000 5,000 80,000
E. Kist 65,000 8,000 5,000 78,000
H. von Prondzynski 65,000 10,000 5,000 80,000
C. Poon 65,000 14,000 11,000 90,000
J.P. Tai 65,000 15,000 20,000 100,000
N. Dhawan 65,000 10,000 17,000 92,000
565,000 106,000 76,000 747,000
2012
J. van der Veer 110,000 20,500 5,000 135,500
J.M. Thompson (Jan. - Apr.) 32,500 4,667 11,000 48,167
C.J.A. van Lede 65,000 10,834 5,000 80,834
E. Kist 65,000 10,333 5,000 80,333
J.J. Schiro 65,000 17,000 17,000 99,000
H. von Prondzynski 65,000 10,000 5,000 80,000
C. Poon 65,000 12,666 14,000 91,666
J.P. Tai 65,000 13,333 17,000 95,333
N. Dhawan (Apr. - Dec.) 65,000 6,667 17,000 88,667
597,500 106,000 96,000 799,500
2011
J. van der Veer 98,750 19,375 2,000 120,125
J-M. Hessels (Jan. - March) 55,000 5,125 2,000 62,125
J.M. Thompson 65,000 14,000 20,000 99,000
C.J.A. van Lede 65,000 12,500 2,000 79,500
E. Kist 65,000 15,000 2,000 82,000
J.J. Schiro 65,000 14,000 17,000 96,000
H. von Prondzynski 65,000 10,000 2,000 77,000
C. Poon 65,000 10,000 20,000 95,000
J.P. Tai (Apr, - Dec.) 65,000 7,500 20,000 92,500
608,750 107,500 87,000 803,250
1) The amounts mentioned under other compensation relate to the fee for intercontinental travel and the entitlement of EUR 2,000 under the Philips product arrangement
2) As of 2013, part of the renumeration of members of the Supervisory Board living in the Netherlands is subject to VAT. The amounts mentioned in this table are excluding
VAT.
Supervisory Board members’ and Board of Management members’
interests in Philips shares
Members of the Supervisory Board and of the Board of Management are
not allowed to hold any interests in derivative Philips securities.
Number of shares1)
December 31,
2012
December 31,
2013
J. van der Veer 16,624 17,192
H. von Prondzynski 3,290 3,402
J.P. Tai 1,053 2,175
F.A. van Houten 21,048 37,258
R.H. Wirahadiraksa 16,060 27,879
P.A.J. Nota 11,757 24,937
1) Reference date for board membership is December 31, 2013
34 Fair value of financial assets and liabilities
The estimated fair value of financial instruments has been determined by
the Company using available market information and appropriate
valuation methods. The estimates presented are not necessarily indicative
of the amounts that will ultimately be realized by the Company upon
maturity or disposal. The use of dierent market assumptions and/or
estimation methods may have a material eect on the estimated fair value
amounts.
For cash and cash equivalents, current receivables, accounts payable,
interest accrual and short-term debts, the carrying amounts approximate
fair value, because of the short maturity of these instruments, and
therefore fair value information is not included in the table below.
The fair value of Philips’ debt is estimated on the basis of the quoted
market prices for certain issues, or on the basis of discounted cash flow
analysis based upon market rates plus Philips’ spread for the particular
tenors of the borrowing arrangement. Accrued interest is not included
within the carrying amount or estimated fair value of debt.