Siemens 2008 Annual Report Download - page 130

34 Corporate Governance Report: Compensation Report
(1)
The fair value of the stock-based compensation relates to stock awards granted in November 2008 and 2007 for scal years 2008 and 2007, respectively.
(2)
Wolfgang Dehen and Dr. Siegfried Russwurm were elected full members of the Managing Board effective January 1, 2008.
(3)
Jim Reid-Anderson was elected a full member of the Managing Board effective May 1, 2008.
(4)
Peter Y. Solmssen was elected a full member of the Managing Board effective October 1, 2007.
(5)
Dr. Klaus Kleinfeld resigned from the Managing Board, effective June 30, 2007; Prof. Johannes Feldmayer resigned from the Managing Board, effective
September 30, 2007; and Rudi Lamprecht, Eduardo Montes, Dr. Jürgen Radomski, Dr. Uriel J. Sharef and Prof. Dr. Klaus Wucherer resigned from the Managing
Board effective December 31, 2007.
(6)
Deputy members of the Managing Board until December 31, 2007.
(7)
Prof. Dr. Erich R. Reinhardt was elected a full member of the Managing Board effective January 1, 2008 and resigned from the Managing Board effective
April 30, 2008.
(8)
On November 12, 2008, the Chairman’s Committee of the Supervisory Board resolved, in view of the damage claims asserted against former Managing
Board members, to exercise a right of lien or retention on the payment of annual and long-term bonuses to Dr. Jürgen Radomski.
(9)
15,494 stock awards with a fair value of €583,349 were granted to Prof. Dr. Erich R. Reinhardt in his capacity as member of the Managing Board; 11,067
stock awards with a fair value of €416,673 were granted to him pursuant to the service agreement in place as of his mutually agreed early resignation from
the Managing Board.
(Amounts in €)(1) Cash compensation Fair value of stock-based
compensation Total
2008 2007 2008 2007 2008 2007
Managing Board
members serving as of
September 30, 2008
Peter Löscher 7,338,777 1,710,038 2,500,035 1,000,065 9,838,812 2,710,103
Wolfgang Dehen(2) 1,674,702 – 1,000,022 – 2,674,724 –
Dr. Heinrich Hiesinger 2,176,043 763,373 1,000,022 750,025 3,176,065 1,513,398
Joe Kaeser 2,463,932 2,502,886 1,000,022 750,025 3,463,954 3,252,911
Jim Reid-Anderson(3) 811,741 – 1,000,022 – 1,811,763 –
Prof. Dr. Hermann Requardt 2,466,040 2,560,568 1,000,022 750,025 3,466,062 3,310,593
Dr. Siegfried Russwurm(2) 1,770,654 – 1,000,022 – 2,770,676 –
Peter Y. Solmssen(4) 4,015,310 – 1,000,022 – 5,015,332 –
Former Managing Board
members
Dr. Klaus Kleinfeld(5) – 5,332,028 – 750,000 – 6,082,028
Prof. Johannes Feldmayer(5) – 3,006,107 – – – 3,006,107
Rudi Lamprecht(5) 242,232 2,993,188 – 750,025 242,232 3,743,213
Eduardo Montes(5)(6) 212,258 2,606,764 – 750,025 212,258 3,356,789
Dr. Jürgen Radomski(5)(8) 736,581 2,993,142 – 750,025 736,581 3,743,167
Prof. Dr. Erich R. Reinhardt(6)(7) 1,302,235 2,679,371 1,000,022(9) 750,025 2,302,257 3,429,396
Dr. Uriel J. Sharef(5) 243,783 3,002,607 – 750,025 243,783 3,752,632
Prof. Dr. Klaus Wucherer(5) 425,854 3,006,413 – 750,025 425,854 3,756,438
Total 25,880,142 33,156,485 10,500,211 8,500,290 36,380,353 41,656,775
On November 12, 2008, the Chairman’s Committee of the Supervisory Board determined the values of stock
awards and the bonus awards to be granted, after assessing the attainment of the targets set at the start of the
scal year.
For scal year 2008, the aggregate cash compensation amounted to €25.9 million (2007: €33.2 million) and total
remuneration amounted to €36.4 million (2007: €41.7 million), representing a decrease in total remuneration
of 12.7 percent.
The following compensation was determined for the members of the Managing Board for scal year 2008
(individual disclosure):