47 Remuneration

Remuneration of the Supervisory Board

The members of the Supervisory Board received total remuneration of € 1.8 million during the 2017 fiscal year (2016: € 1.8 million) for their work.

Total Remuneration of the Management Board

The total remuneration paid to the individual members of the Management Board comprises the following:

 

 

Rolf Buch, CEO

 

Thomas Zinnöcker, CRO
until Jan. 31, 2016

 

Klaus Freiberg, COO

Total remuneration of the Management Board in €

 

2016

 

2017

 

2016

 

2017

 

2016

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed remuneration

 

1,000,000

 

1,150,000

 

66,667

 

 

600,000

 

600,000

Cash remuneration/deferred compensation

 

225,000

 

355,000

 

12,500

 

 

160,000

 

160,000

Fringe benefits

 

39,446

 

24,006

 

2,369

 

 

27,627

 

27,603

Total

 

1,264,446

 

1,529,006

 

81,536

 

 

787,627

 

787,603

Annual variable remuneration (bonus)

 

700,000

 

700,000

 

50,000

 

 

440,000

 

440,000

Multi-year variable remuneration (LTIP plan):

 

 

 

 

 

 

 

 

 

 

 

 

2016–2018

 

 

 

 

 

212,035

 

2016–2019

 

1,429,217

 

 

101,481

 

 

635,201

 

2017–2020

 

 

2,040,633

 

 

 

 

859,224

(Number of shares)

 

(47,039)

 

(61,469)

 

(3,340)

 

 

(27,875)

 

(25,882)

Total

 

2,129,217

 

2,740,633

 

151,481

 

 

1,287,236

 

1,299,224

Total remuneration

 

3,393,663

 

4,269,639

 

233,017

 

 

2,074,863

 

2,086,827

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dr. A. Stefan Kirsten, CFO

 

Gerald Klinck, CCO

 

Total remuneration

Total remuneration of the Management Board in €

 

2016

 

2017

 

2016

 

2017

 

2016

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

Fixed remuneration

 

600,000

 

600,000

 

600,000

 

600,000

 

2,866,667

 

2,950,000

Cash remuneration/deferred compensation

 

160,000

 

160,000

 

160,000

 

160,000

 

717,500

 

835,000

Fringe benefits

 

31,571

 

32,723

 

25,865

 

24,503

 

126,878

 

108,835

Total

 

791,571

 

792,723

 

785,865

 

784,503

 

3,711,045

 

3,893,835

Annual variable remuneration (bonus)

 

440,000

 

440,000

 

440,000

 

440,000

 

2,070,000

 

2,020,000

Multi-year variable remuneration (LTIP plan):

 

 

 

 

 

 

 

 

 

 

 

 

2016–2018

 

212,035

 

 

212,035

 

 

636,105

 

2016–2019

 

635,201

 

 

635,201

 

 

3,436,301

 

2017–2020

 

 

859,224

 

 

859,224

 

 

4,618,305

(Number of shares)

 

(27,875)

 

(25,882)

 

(27,875)

 

(25,882)

 

(134,004)

 

(139,115)

Total

 

1,287,236

 

1,299,224

 

1,287,236

 

1,299,224

 

6,142,406

 

6,638,305

Total remuneration

 

2,078,807

 

2,091,947

 

2,073,101

 

2,083,727

 

9,853,451

 

10,532,140

The remuneration paid to the Management Board members includes the remuneration for all mandates at Vonovia Group companies, subsidiaries and participating interests.

Pension Obligations to Members of the Management Board

Rolf Buch, Dr. A. Stefan Kirsten and Gerald Klinck are paying their contractual share of € 355,000 (Rolf Buch), € 160,000 (Dr. A. Stefan Kirsten) and (Gerald Klinck) respectively, based on their fixed remuneration, into the deferred compensation scheme. Klaus Freiberg has opted for a cash payout for his entitlement of € 160,000.

The pension obligations to members of the Management Board from deferred compensation comprise the following:

 

 

Contribution total as of December 31

 

Defined benefit obligation as of December 31

 

2016

 

2017

 

2016

 

2017

 

 

 

 

 

 

 

 

 

Rolf Buch

 

600,398

 

949,253

 

2,105,694

 

3,064,938

Dr. A. Stefan Kirsten

 

367,388

 

367,388

 

1,782,051

 

2,179,047

Gerald Klinck

 

491,198

 

491,198

 

742,668

 

1,257,330

Remuneration of Former Management Board Members and Their Surviving Dependents

Total remuneration of former Management Board members and their surviving dependents amounts to € 2.0 million for the 2017 fiscal year (2016: € 1.9 million). The pension obligations (DBO) to former members of the Management Board and their surviving dependents amount to € 14.3 million (2016: € 14.4 million).