Annual Report 2020

48 Remuneration

Remuneration of the Supervisory Board

The members of the Supervisory Board received total remuneration of € 1.8 million during the 2020 fiscal year (2019: € 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

Arnd Fittkau
CRO

Klaus Freiberg
COO
until May 16, 2019

Total remuneration of the Management Board in €

2019

2020

2019

2020

2019

2020

 

 

 

 

 

 

 

Fixed remuneration

1,150,000

1,200,000

375,000

700,000

225,000

 

Compensation payment

 

 

 

 

 

 

Deferred compensation

355,000

400,000

100,000

160,000

60,000

 

Pension contribution

 

 

 

 

 

 

Fringe benefits

27,453

30,303

18,721

30,758

10,350

 

Total

1,532,453

1,630,303

493,721

890,758

295,350

 

Annual variable remuneration (bonus)

665,000

794,000

275,000

440,000

308,000*

 

Multi-year variable remuneration (LTIP plan):

 

 

 

 

 

 

2019–2022

2,060,584

504,793

 

867,614**

 

2020–2023

2,573,330

946,512

 

 

(number of shares)

46,151

46,169

9,531

16,982

19,432

 

Total

2,725,584

3,367,330

779,793

1,386,512

1,175,614

 

Total remuneration

4,258,037

4,997,633

1,273,514

2,277,270

1,470,964

 

 

 

 

 

 

 

 

 

Daniel Riedl
CDO

Helene von Roeder
CFO

Total remuneration

Total remuneration of the Management Board in €

2019

2020

2019

2020

2019

2020

 

 

 

 

 

 

 

Fixed remuneration

600,000

700,000

600,000

700,000

2,950,000

3,300,000

Compensation payment

 

 

64,874

64,874

64,874

64,874

Cash remuneration/deferred compensation

 

 

160,000

160,000

675,000

720,000

Pension contribution

160,000

500,000

 

 

160,000

500,000

Fringe benefits

29,404

16,057

29,608

25,003

115,536

102,121

Total

789,404

1,216,057

854,482

949,877

3,965,410

4,686,995

Annual variable remuneration (bonus)

412,007

440,000

425,812

440,000

2,085,819

2,114,000

Multi-year variable remuneration (LTIP plan):

 

 

 

 

 

 

2018–2021

867,614

867,614

5,168,219

2019–2022

946,512

946,512

5,412,866

(number of shares)

19,432

16,982

19,432

16,982

113,978

97,115

Total

1,279,621

1,386,512

1,293,426

1,386,512

7,254,038

7,526,866

Total remuneration

2,069,025

2,602,569

2,147,908

2,336,389

11,219,448

12,213,861

*

Annual variable remuneration agreed in the termination.

**

LTIP is granted for the complete financial year regardless of the termination during the year.

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 € 400,000 (Rolf Buch), € 160,000 (Helene von Roeder and Arnd Fittkau) respectively, based on their fixed remuneration, into the deferred compensation scheme. The annual benefit contribution for Daniel Riedl of € 200,000 and the contractually agreed additional pension remuneration of € 300,000 – both on the part BUWOG – are 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 Dec. 31

Defined benefit obligation
as of Dec. 31

in €

2019

2020

2019

2020

 

 

 

 

 

Rolf Buch

946,410

1,052,225

5,733,678

7,378,836

Helene von Roeder

437,241

597,025

864,057

1,123,176

Arnd Fittkau

291,772

542,509

363,890

1,580,205

 

 

 

 

 

Remuneration of Former Management Board Members and Their Surviving Dependents

Total remuneration of former Management Board members and their surviving dependents amounts to € 1.7 million for the 2020 fiscal year (2019: € 0.7 million). In accordance with the provisions of the termination agreement with Klaus Freiberg, total remuneration includes compensation payable following termination of the contract of employment on December 31, 2019, amounting to € 1.4 million.

The defined benefit obligation (DBO) to former members of the Management Board and their surviving dependents amount to € 22.1 million (2019: € 21.3 million).