Siemens 2015 Annual Report Download - page 46

Download and view the complete annual report

Please find page 46 of the 2015 Siemens annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 140

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140

Managing Board members serving as of September 30, 2015
(Amounts in thousands of €)
Non-performance-
based components
Fixed compensation (base compensation)
Fringe benefits
Total
Performance-based
components
without long-term incentive
effect, non-stock-based
One-year variable compensation (Bonus) –
Cash component (Code)
with long-term incentive effect,
stock-based
Multi-year variable compensation
, 
Variable compensation (Bonus) – Bonus Awards
Siemens Stock Awards (restriction period: 4 years)
Target achievement depending on EPS for past three fiscal years
Target achievement depending on future stock performance
Total
Service cost
Total (Code)
Total compensation of all Managing Board members for fiscal 2015, in accordance with the applicable reporting standards, amounted to €27.42 million
(2014: €28.57 million). The granted payout amount presented below is to be used instead of the target value according to the Code for one-year variable
compensation. Service costs for pension benefits are not included.
Performance-based
components
without long-term incentive
effect, non-stock-based
One-year variable compensation (Bonus) –
Cash component
Total compensation
Managing Board members serving as of September 30, 2015
(Amounts in thousands of €)
Non-performance-
based components
Fixed compensation (base compensation)
Fringe benefits
Total
Performance-based
components
without long-term incentive
effect, non-stock-based
One-year variable compensation (Bonus) –
Cash component (Code)
with long-term incentive effect,
stock-based
Multi-year variable compensation
, 
Variable compensation (Bonus) – Bonus Awards
Siemens Stock Awards (restriction period: 4 years)
Target achievement depending on EPS for past three fiscal years
Target achievement depending on future stock performance
Total
Service cost
Total (Code)
Total compensation of all Managing Board members for fiscal 2015, in accordance with the applicable reporting standards, amounted to €27.42 million
(2014: €28.57 million). The granted payout amount presented below is to be used instead of the target value according to the Code for one-year variable
compensation. Service costs for pension benefits are not included.
Performance-based
components
without long-term incentive
effect, non-stock-based
One-year variable compensation (Bonus) –
Cash component
Total compensation
1 Fringe benefits include the costs, or the cash equiva-
lent, of non-monetary benefits and other perquisites,
such as the provision of company cars in the amount
of €158,131 (2014: €181,638), contributions toward
the cost of insurance in the amount of €134,170 (2014:
€71,776), the reimbursement of expenses for legal
advice and tax advice, accommodation and moving
expenses, including any taxes due in this regard,
currency adjustment payments and costs relating to
preventive medical examinations in the amount of
€330,620 (2014: €194,498).
2 The figures for individual maximums for multi-year
variable compensation reflect the possible maximum
value in accordance with the maximum amount agreed
upon for fiscal 2015, that is, 300% of the applicable
target amount.
3 The expenses recognized for stock-based compensa-
tion for members of the Managing Board in accordance
with the IFRS in fiscal 2015 and fiscal 2014 amounted
to €8,109,155 and €16,141,235, respectively. The fol-
lowing amounts pertained to the members of the
Managing Board in fiscal 2015: Joe Kaeser €2,003,783
(2014: €1,822,932), Dr. Roland Busch €1,129,224 (2014:
€922,535), Lisa Davis €284,928 (2014: €1,337,996),
Klaus Helmrich €1,076,237 (2014: €949,521), Janina
Kugel €140,185 (2014: €0), Prof. Dr. Siegfried Russ-
wurm €1,239,596 (2014: €1,118,839), and Dr. Ralf P.
Thomas €516,915 (2014: €446,570). The corresponding
expense, determined in the same way, for former
Managing Board members was as follows: Brigitte
Ederer €105,227 (2014: €35,373), Barbara Kux €105,227
(2014: €1,971,611), Peter Löscher €230,387 (2014:
€107,733), Prof. Dr. Hermann Requardt €1,107,522
(2014: €1,254,756), Peter Y. Solmssen €141,258 (2014:
€3,430,484), and Dr. Michael Süß €28,666 (2014:
€2,742,885).
4 For Stock Awards granted in fiscal 2014 for which the
target attainment depends on the EPS for the past
three fiscal years and for Bonus Awards granted in
fiscal 2014, the fair value at the date of award is equiva-
lent to the respective monetary value. As of fiscal 2015,
the Bonus is granted entirely in cash; Stock Awards are
linked solely to the performance of Siemens stock in
comparison to its competitors.
5 The monetary values relating to 100% target achieve-
ment were €8,190,219 (2014: €4,970,916). The amounts
for individual Managing Board members were as
follows: Joe Kaeser €1,950,003 (2014: €950,022),
Dr. Roland Busch €1,040,036 (2014: €500,027),