Siemens 2011 Annual Report Download - page 147

51 C. Combined management’s discussion and analysis 273 E. Additional information 153 D. Consolidated Financial Statements
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Share Ownership Guidelines
The Siemens Share Ownership Guidelines require the mem-
bers of the Managing Board to hold Siemens shares worth a
multiple of their average base compensation over the past
four years (% for the President and CEO, % for the
other members of the Managing Board) for the duration of
their term of office on the Managing Board. The deadlines for
B.. Remuneration of members
of the Supervisory Board
The current remuneration policies for the Supervisory Board
were authorized at the Annual Shareholders‘ Meeting held on
January , . Details are set out in Section  of the Arti-
cles of Association of Siemens AG. By way of exception to a
recommendation of the German Corporate Governance Code,
the Supervisory Board remuneration is organized in the form
of purely fixed remuneration. The remuneration of the mem-
bers of the Supervisory Board is commensurate with compen-
sation paid by companies of comparable size and reflects the
responsibilities and scope of work of the Supervisory Board
members. The Chairman and deputy chairmen of the Supervi-
submitting first-time proof of compliance with this obligation
vary from member to member. The first such deadline is
March , . The following table shows the number of
Siemens shares held and the number of non-forfeitable
Bonus Awards received for fiscal  by the individual mem-
bers of the Managing Board in view of the Share Ownership
Guidelines:
Obligations under Share Ownership Guidelines
Number of
shares 
Bonus Awards

Required
number of
shares 
Required
value 
Due date
for initial
measurement
of adherence
(Amounts in number of units or €)
Managing Board members
serving as of September , 
Peter Löscher 110,211 34,208 81,205 5,961,250 3/9/2012
Dr. Roland Busch  7,398 7,697 24,520 1,800,000 3/11/2016
Brigitte Ederer  8,432 15,394 24,520 1,800,000 3/13/2015
Klaus Helmrich  7,671 7,697 24,520 1,800,000 3/11/2016
Joe Kaeser 49,240 15,394 22,409 1,645,000 3/9/2012
Barbara Kux 6,237 15,394 23,226 1,705,000 3/8/2013
Prof. Dr. Hermann Requardt 40,648 15,394 22,409 1,645,000 3/9/2012
Prof. Dr. Siegfried Russwurm 34,400 15,394 22,409 1,645,000 3/9/2012
Peter Y. Solmssen 44,826 15,394 22,409 1,645,000 3/9/2012
Dr. Michael Süß  8,884 7,697 24,520 1,800,000 3/11/2016
Total 317,947 149,663 292,147 21,446,250
1 As per November ,  (transfer date for Stock Awards ).
2 On the basis of the closing price of Siemens stock in Xetra trading on November ,  (€.).
3 The amount of the obligation is based on a member’s average base compensation for each of the four years prior to the review
of his or her achievement of the targets defined by the Share Ownership Guidelines.
4 Dr. Roland Busch, Klaus Helmrich and Dr. Michael Süß were elected full members of the Managing Board effective April , .
5 Brigitte Ederer was elected a full member of the Managing Board effective July , .
sory Board, as well as the Chairmen and members of the Audit
Committee and the Chairman‘s Committee, and – to a lesser
extent – the Compliance Committee and the Finance and In-
vestment Committee, receive additional compensation.
According to current rules, members of the Supervisory Board
receive an annual base compensation of €,; the Chair-
man of the Supervisory Board receives a base compensation
of €,, and each of the deputy chairmen receives
€,.