51 Remuneration
Remuneration of the Supervisory Board
The members of the Supervisory Board received total remuneration of € 1.8 million during the 2018 fiscal year (2017: € 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 |
|
Klaus Freiberg |
|
Helene von Roeder |
|
|
|
|
|
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Total remuneration of the Management Board in € |
|
2017 |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed remuneration |
|
1,150,000 |
|
1,150,000 |
|
600,000 |
|
600,000 |
|
– |
|
386,957 |
|
|
|
|
|
Compensation payment |
|
– |
|
– |
|
– |
|
– |
|
– |
|
64,874 |
|
|
|
|
|
Cash remuneration/deferred compensation |
|
355,000 |
|
355,000 |
|
160,000 |
|
160,000 |
|
– |
|
103,188 |
|
|
|
|
|
Fringe benefits |
|
24,006 |
|
26,651 |
|
27,603 |
|
27,600 |
|
– |
|
13,157 |
|
|
|
|
|
Total |
|
1,529,006 |
|
1,531,651 |
|
787,603 |
|
787,600 |
|
– |
|
568,176 |
|
|
|
|
|
Annual variable remuneration (bonus) |
|
700,000 |
|
700,000 |
|
440,000 |
|
528,000 |
|
– |
|
283,768 |
|
|
|
|
|
Multi-year variable remuneration (LTIP plan) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017–2020 |
|
2,040,633 |
|
– |
|
859,224 |
|
– |
|
– |
|
– |
|
|
|
|
|
2018–2021 |
|
– |
|
1,902,392 |
|
– |
|
801,007 |
|
– |
|
516,592 |
|
|
|
|
|
(number of shares) |
|
(61,469) |
|
(48,669) |
|
(25,882) |
|
(20,492) |
|
– |
|
(13,216) |
|
|
|
|
|
Total |
|
2,740,633 |
|
2,602,392 |
|
1,299,224 |
|
1,329,007 |
|
– |
|
800,360 |
|
|
|
|
|
Total remuneration |
|
4,269,639 |
|
4,134,043 |
|
2,086,827 |
|
2,116,607 |
|
– |
|
1,368,536 |
|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
|
|
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|
|
|
Daniel Riedl |
|
Dr. A. Stefan Kirsten |
|
Gerald Klinck |
|
Total remuneration |
|
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total remuneration of the Management Board in € |
|
2017 |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
2018 |
|
2017 |
|
2018 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed remuneration |
|
– |
|
386,957 |
|
600,000 |
|
215,217 |
|
600,000 |
|
215,217 |
|
2,950,000 |
|
2,954,348 |
|
Compensation payment |
|
– |
|
15,111 |
|
– |
|
– |
|
– |
|
– |
|
– |
|
64,874 |
|
Cash remuneration/deferred compensation |
|
– |
|
103,188 |
|
160,000 |
|
53,333 |
|
160,000 |
|
57,391 |
|
835,000 |
|
832,100 |
|
Fringe benefits |
|
– |
|
18,932 |
|
32,723 |
|
24,105 |
|
24,503 |
|
7,317 |
|
108,835 |
|
117,762 |
|
Total |
|
– |
|
524,188 |
|
792,723 |
|
292,655 |
|
784,503 |
|
279,925 |
|
3,893,835 |
|
3,969,084 |
|
Annual variable remuneration (bonus) |
|
– |
|
283,768 |
|
440,000 |
|
157,826 |
|
440,000 |
|
157,826 |
|
2,020,000 |
|
2,111,188 |
|
Multi-year variable remuneration (LTIP plan) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2017–2020 |
|
– |
|
– |
|
859,224 |
|
– |
|
859,224 |
|
– |
|
4,618,305 |
|
– |
|
2018–2021 |
|
– |
|
516,592 |
|
– |
|
333,753 |
|
– |
|
333,753 |
|
– |
|
4,404,089 |
|
(number of shares) |
|
– |
|
(13,216) |
|
(25,882) |
|
(8,539) |
|
(25,882) |
|
(8,539) |
|
(139,115) |
|
(112,671) |
|
Total |
|
– |
|
800,360 |
|
1,299,224 |
|
491,579 |
|
1,299,224 |
|
491,579 |
|
6,638,305 |
|
6,515,277 |
|
Total remuneration |
|
– |
|
1,324,548 |
|
2,091,947 |
|
784,234 |
|
2,083,727 |
|
771,504 |
|
10,532,140 |
|
10,484,361 |
|
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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, Helene von Roeder, Dr. A. Stefan Kirsten and Gerald Klinck are/were paying their contractual share of € 355,000 (Rolf Buch), € 103,188 (Helene von Roeder), € 53,333 (Dr. A. Stefan Kirsten) and € 57,391 (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. In Daniel Riedl’s case, the annual pension contribution of € 103,188 made by BUWOG is paid into an external pension fund.
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, |
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€ |
|
2017 |
|
2018 |
|
2017 |
|
2018 |
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Rolf Buch |
|
949,253 |
|
966,356 |
|
3,064,938 |
|
3,969,413 |
|
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Helene von Roeder |
|
– |
|
265,457 |
|
– |
|
265,677 |
|
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Dr. A. Stefan Kirsten |
|
367,388 |
|
116,396 |
|
2,179,047 |
|
–* |
|
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Gerald Klinck |
|
491,198 |
|
192,180 |
|
1,257,330 |
|
–* |
|
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Remuneration of Former Management Board Members and Their Surviving Dependents
Total remuneration of former Management Board members and their surviving dependents amounts to € 6.2 million for the 2018 fiscal year (2017: € 2.0 million). The total remuneration includes the severance payment in accordance with the provisions set out in the contract of employment of Dr. A. Stefan Kirsten. This payment applies in connection with the amicable termination of his Management Board contract as of May 9, 2018.
The pension obligations (DBO) to former members of the Management Board and their surviving dependents amount to € 19.1 million (2017: € 14.3 million).