Siemens 2007 Annual Report Download - page 101

Corporate Governance Report: Compensation Report 101
Stock options exercised
in fi scal year 2007
(Amounts in number
of units or in €)
Number
of units
Weighted average
market price on
date of exercise
Peter Löscher(1) – –
Dr. Klaus Kleinfeld(1) 78,510 90.40
Prof. Johannes Feldmayer(2) 61,310 90.49
Dr. Heinrich Hiesinger(3) 22,500 86.09
Joe Kaeser 1,950 87.49
Rudi Lamprecht 45,500 89.84
Dr. Jürgen Radomski 99,785 91.71
Prof. Dr. Hermann Requardt(4) 13,900 96.24
Dr. Uriel J. Sharef 13,500 88.40
Prof. Dr. Klaus Wucherer 43,500 95.32
Eduardo Montes(5) 3,900 87.49
Prof. Dr. Erich R. Reinhardt(5) 20,000 89.20
Total 404,355 91.00
(1) Effective June 30, 2007, Dr. Kleinfeld resigned from his offi ces as a full member of the Managing Board and as
CEO and President of the Managing Board of Siemens AG. The full term of his service agreement would have
expired on September 30, 2007. Effective July 1, 2007, Peter Löscher was elected a full member of the
Managing Board and appointed Chief Executive Offi cer and President of the Managing Board of Siemens AG.
(2) Prof. Feldmayer had been suspended since March 28, 2007 and left the Managing Board,
effective September 30, 2007.
(3) Dr. Hiesinger was elected a full member of the Managing Board, effective June 1, 2007.
(4) Prof. Dr. Requardt was elected a full member of the Managing Board, effective October 1, 2006.
(5) Deputy members of the Managing Board.
Pension benefi t commitments – With the realignment of the German pension plan
of Siemens AG into a Defi ned Contribution Benefi t Plan (BSAV), the system of de-
fi ned benefi ts for members of the Managing Board was also replaced with effect
from October 1, 2004 by a pension benefi t system based on contributions by the
Company. Pension benefi ts earned through September 30, 2004 were not affected.
The amount of the contributions to the BSAV is determined annually by the Chair-
man’s Committee of the Supervisory Board. The contributions under the BSAV are
added to the personal pension account each January following the close of the fi scal
year, with value date on January 1. Until the benefi ciary’s time of retirement, the
pension account is credited on January 1 each year with an annual interest payment
(guaranteed interest).
For fi scal year 2007, the members of the Managing Board were granted contribu-
tions under the BSAV totaling €13.6 million (2006: €4.2 million), based on a resolu-
tion adopted by the Chairman’s Committee of the Supervisory Board on November 7,
2007. Of this amount, €0.7 million (2006: €0.7 million) relates to funding of pension
commitments earned prior to transfer to the BSAV and the remaining €12.9 million
(2006: €3.5 million) to contributions granted under the BSAV.