48 Remuneration
Remuneration of the Supervisory Board
The members of the Supervisory Board received total remuneration of € 1.8 million during the 2019 fiscal year (2018: € 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 |
Arnd Fittkau |
Klaus Freiberg |
Helene von Roeder |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total remuneration of the Management Board in € |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
||||
|
||||||||||||
|
|
|
|
|
|
|
|
|
||||
Fixed remuneration |
1,150,000 |
1,150,000 |
|
375,000 |
600,000 |
225,000 |
386,957 |
600,000 |
||||
Compensation payment |
|
|
|
|
|
|
64,874 |
64,874 |
||||
Cash remuneration/deferred compensation |
355,000 |
355,000 |
|
100,000 |
160,000 |
60,000 |
103,188 |
160,000 |
||||
Fringe benefits |
26,651 |
27,453 |
|
18,721 |
27,600 |
10,350 |
13,157 |
29,608 |
||||
Total |
1,531,651 |
1,532,453 |
|
493,721 |
787,600 |
295,350 |
568,176 |
854,482 |
||||
Annual variable remuneration (bonus) |
700,000 |
665,000 |
|
275,000 |
528,000 |
308,000* |
283,768 |
425,812 |
||||
Multi-year variable remuneration (LTIP plan): |
|
|
|
|
|
|
|
|
||||
2018–2021 |
1,902,392 |
|
|
|
801,007 |
|
516,592 |
|
||||
2019–2022 |
|
2,060,584 |
|
504,793 |
|
867,614** |
|
867,614 |
||||
(number of shares) |
(48,669) |
(46,151) |
|
(9,531) |
(20,492) |
(19,432) |
(13,216) |
(19,432) |
||||
Total |
2,602,392 |
2,725,584 |
|
779,793 |
1,329,007 |
1,175,614 |
800,360 |
1,293,426 |
||||
Total remuneration |
4,134,043 |
4,258,037 |
|
1,273,514 |
2,116,607 |
1,470,964 |
1,368,536 |
2,147,908 |
||||
|
|
|
|
|
|
|
|
|
||||
|
Daniel Riedl |
Dr. A. Stefan Kirsten |
Gerald Klinck |
Total remuneration |
||||||||
Total remuneration of the Management Board in € |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
2018 |
2019 |
||||
|
|
|
|
|
|
|
|
|
||||
Fixed remuneration |
386,957 |
600,000 |
215,217 |
|
215,217 |
|
2,954,348 |
2,950,000 |
||||
Compensation payment |
15,111 |
|
|
|
|
|
79,985 |
64,874 |
||||
Cash remuneration/deferred compensation |
103,188 |
160,000 |
53,333 |
|
57,391 |
|
832,100 |
835,000 |
||||
Fringe benefits |
18,932 |
29,404 |
24,105 |
|
7,317 |
|
117,762 |
115,536 |
||||
Total |
524,188 |
789,404 |
292,655 |
|
279,925 |
|
3,984,195 |
3,965,410 |
||||
Annual variable remuneration (bonus) |
283,768 |
412,007 |
157,826 |
|
157,826 |
|
2,111,188 |
2,085,819 |
||||
Multi-year variable remuneration (LTIP plan): |
|
|
|
|
|
|
|
|
||||
2018–2021 |
516,592 |
|
333,753 |
|
333,753 |
|
4,404,089 |
|
||||
2019–2022 |
|
867,614 |
|
|
|
|
|
5,168,219 |
||||
(number of shares) |
(13,216) |
(19,432) |
(8,539) |
|
(8,539) |
|
(112,671) |
(113,978) |
||||
Total |
800,360 |
1,279,621 |
491,579 |
|
491,579 |
|
6,515,277 |
7,254,038 |
||||
Total remuneration |
1,324,548 |
2,069,025 |
784,234 |
|
771,504 |
|
10,499,472 |
11,219,448 |
||||
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 and Arnd Fittkau are paying their contractual share of € 355,000 (Rolf Buch), € 160,000 (Helene von Roeder) and € 100,000 (Arnd Fittkau) respectively, based on their fixed remuneration, into the deferred compensation scheme. The annual benefit contribution for Daniel Riedl in the amount of € 160,000 on the part of 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, |
||||
|---|---|---|---|---|---|---|
€ |
2018 |
2019 |
2018 |
2019 |
||
|
||||||
|
|
|
|
|
||
Rolf Buch |
966,356 |
946,410 |
3,969,413 |
5,733,678 |
||
Helene von Roeder |
265,457 |
437,241 |
265,677 |
864,057 |
||
Arnd Fittkau |
– |
291,772 |
– |
363,890 |
||
Dr. A. Stefan Kirsten |
116,396 |
– |
– |
–* |
||
Gerald Klinck |
192,180 |
– |
– |
–* |
||
Remuneration of Former Management Board Members and Their Surviving Dependents
Total remuneration of former Management Board members and their surviving dependents amounts to € 0.7 million for the 2019 fiscal year (2018: € 6.2 million). In accordance with the provisions of the termination agreement with Klaus Freiberg, total remuneration includes the remuneration components to be paid after resigning from his position on the Management Board on May 16, 2019, until the termination of the contract of employment on December 31, 2019, amounting to € 0.5 million.
The defined benefit obligation (DBO) to former members of the Management Board and their surviving dependents amount to € 21.3 million (2018: € 19.1 million).