Siemens 2013 Annual Report Download - page 144

92 A. To our Shareholders 117 B. Corporate Governance
118 B. Corporate Governance Report
124 B. Corporate Governance statement pursuant to
Section a of the German Commercial Code
(part of the Combined Management Report)
126 B. Compliance Report
129 B. Compensation Report
(part of the Combined Management Report)
148 B. Takeover-relevant information (pursuant to
Sections  para.  and  para.  of the
German Commercial Code) and explanatory report
(part of the Combined Management Report)

Share Ownership Guidelines
Different deadlines apply for the individual members of the
Managing Board to provide their first-time proof of compliance
with the Siemens Share Ownership Guidelines, depending on
when the member was appointed to the Managing Board. The
The following table shows the proof-of-compliance obligations
of the other Managing Board members in view of the Share
Ownership Guidelines:
following table shows the number of Siemens shares held by
Managing Board members in office at September , , as
of the deadline in March  for showing compliance with
the Share Ownership Guidelines, and the number of Siemens
shares to be held permanently with a view to future deadlines.
Obligations under Share Ownership Guidelines
(Amounts in number of units or €) Required value Required number of shares Proven number of shares 
Managing Board members serving as of September , ,
and required to show proof as of March , 
Joe Kaeser 1,719,062 21,730 77,685
Barbara Kux 1,705,000 21,552 34,957
Prof. Dr. Hermann Requardt 1,719,062 21,730 67,789
Prof. Dr. Siegfried Russwurm 1,719,062 21,730 66,916
Peter Y. Solmssen 1,705,000 21,552 68,530
Total 8,567,186 108,294 315,877
1 The amount of the obligation is based on a member’s
average base compensation for the four years prior to
each review of his or her achievement of the targets
defined by the Share Ownership Guidelines.
2 Based on the average Xetra opening price of €. for
the fourth quarter of  (October – December).
3 As per March ,  (date of proof), including  and
 Bonus Awards.
Obligations under Share Ownership Guidelines
Required value Required number of shares 
Due date for initial
measurement of adherence
(Amounts in number of units or €)
Managing Board members
required to show proof in subsequent years
Dr. Roland Busch 1,829,348 23,124 March 2016
Klaus Helmrich 1,800,000 22,753 March 2016
Dr. Michael Süß 1,829,348 23,124 March 2016
Dr. Ralf P. Thomas 1,935,000 24,460 March 2018
Total 7,393,696 93,461
1 The amount of the obligation is based on a member’s
average base compensation for the four years prior to
each review of his or her achievement of the targets
defined by the Share Ownership Guidelines. The amount
shown here is based on average base compensation
since the member’s initial appointment.
2 Based on the average Xetra opening price of €. for
the fourth quarter of  (October – December).
B... REVISIONS OF THE REMUNERATION SYSTEM
FOR THE MANAGING BOARD FOR FISCAL 2014
At its meeting on November , , the Supervisory Board
decided to revise the remuneration system for the Managing
Board as of October , , so as to comply with the new rec-
ommendations of the German Corporate Governance Code in
the version of May , . The remuneration system remains
focused on providing an incentive for successful corporate
management with an emphasis on sustainability. At the same
time, it offers members of the Managing Board a chance to
benefit from any sustained increase in the Company ’s value. For
performance-based components, the target attainment range
continues to remain between % and %, and the Super-
visory Board, as was previously the case, may revise bonus pay-
ments (± %). The new revisions define maximum amounts
for stock-based components (Bonus Awards and Stock Awards),
effective from fiscal  onwards. Moreover the compensation
overall is limited to a maximum amount of compensation.