6. Board of Directors: remuneration and share ownership in 2021
This section is audited by the external auditor.
The remuneration of the Board of Directors consists solely of a fixed remuneration paid out in the form of cash and non-discounted restricted shares. In 2021, members of the Board of Directors received a total remuneration of TCHF 2,294 (previous year TCHF 2,240). Remuneration for regular board activities and committee assignments amounted to TCHF 2,100 (previous year TCHF 2,053). The structure of remuneration of the members of the Board of Directors has not changed compared to the previous year.
Please refer to the following table for details pertaining to the remuneration of members of the Board of Directors:
|
|
A. Baehny |
|
|
|
F. Ehrat |
|
B. Koch |
|
W. Karlen |
|
T. Bachmann 2 |
|
Total |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
CHF |
|
CHF |
|
CHF |
|
CHF |
|
CHF |
|
CHF |
|
CHF |
||||||||
2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Remuneration of the Board of Directors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Accrued remuneration 3 |
|
270,000 |
|
269,584 |
|
235,000 |
|
220,000 |
|
241,250 |
|
155,833 |
|
1,391,667 |
||||||||
Cash remuneration |
|
615,000 |
|
|
|
|
|
|
|
|
|
|
|
615,000 |
||||||||
Expenses |
|
15,000 |
|
15,000 |
|
15,000 |
|
15,000 |
|
15,000 |
|
10,625 |
|
85,625 |
||||||||
Contributions to social insurance |
|
43,024 |
|
13,303 |
|
11,533 |
|
11,011 |
|
11,954 |
|
8,162 |
|
98,987 |
||||||||
Total |
|
943,024 |
|
297,887 |
|
261,533 |
|
246,011 |
|
268,204 |
|
174,620 |
|
2,191,279 |
||||||||
|
||||||||||||||||||||||
|
|
CHF |
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Remuneration of former members of the Board of Directors (H. Reuter 1) |
|
|
||||||||||||||||
Accrued remuneration |
|
93,333 |
||||||||||||||||
Cash remuneration |
|
|
||||||||||||||||
Expenses |
|
4,375 |
||||||||||||||||
Contributions to social insurance |
|
4,747 |
||||||||||||||||
Total |
|
102,455 |
||||||||||||||||
|
||||||||||||||||||
|
|
A. Baehny |
|
H. Reuter |
|
F. Ehrat |
|
E. Zehnder‑Lai |
|
B. Koch |
|
W. Karlen 1 |
|
Total |
||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
CHF |
|
CHF |
|
CHF |
|
CHF |
|
CHF |
|
CHF |
|
CHF |
||||||
2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Remuneration of the Board of Directors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Accrued remuneration 2 |
|
270,000 |
|
320,000 |
|
235,000 |
|
220,000 |
|
227,500 |
|
165,000 |
|
1,437,500 |
||||||
Cash remuneration |
|
615,000 |
|
|
|
|
|
|
|
|
|
|
|
615,000 |
||||||
Expenses |
|
15,000 |
|
15,000 |
|
15,000 |
|
15,000 |
|
15,000 |
|
11,250 |
|
86,250 |
||||||
Contributions to social insurance |
|
42,882 |
|
15,578 |
|
11,685 |
|
11,023 |
|
11,340 |
|
8,371 |
|
100,879 |
||||||
Total |
|
942,882 |
|
350,578 |
|
261,685 |
|
246,023 |
|
253,840 |
|
184,621 |
|
2,239,629 |
||||||
|
||||||||||||||||||||
|
|
CHF |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Remuneration of former members of the Board of Directors (none) |
|
|
||||||||||||
Accrued remuneration |
|
|
||||||||||||
Cash remuneration |
|
|
||||||||||||
Expenses |
|
|
||||||||||||
Contributions to social insurance |
|
|
||||||||||||
Total |
|
|
||||||||||||
For the period from the 2021 Annual General Meeting to the 2022 Annual General Meeting, the remuneration paid to the Board of Directors is expected to amount to CHF 2,295,708. This is within the limit of CHF 2,350,000 approved by the 2021 Annual General Meeting.
Reconciliation between the reported board remuneration and the amount approved by the shareholders at the annual general meeting
(in CHF) |
|
1 1 |
|
2 2 |
|
3 3 |
|
4 4 |
|
5 5 |
|
6 6 |
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
AGM 2021–AGM 2022 |
|
2021 |
|
1 Jan 2021 |
|
1 Jan 2022 |
|
2021 AGM |
|
AGM 2021 |
|
AGM 2021 |
||||||||||||||
Board of Directors (Total) |
|
2,294,770 |
|
-572,495 |
|
573,433 |
|
2,295,708 |
|
2,350,000 |
|
98% |
||||||||||||||
AGM 2020–AGM 2021 |
|
2020 |
|
1 Jan 2020 |
|
1 Jan 2021 |
|
2020 AGM |
|
AGM 2020 |
|
AGM 2020 |
||||||||||||||
Board of Directors (Total) |
|
2,239,629 |
|
-518,435 |
|
572,756 |
|
2,293,950 |
|
2,350,000 |
|
98% |
||||||||||||||
|
||||||||||||||||||||||||||
As of the end of 2021 and 2020, the members of the Board of Directors held the following shares in the company:
|
|
A. Baehny |
|
E. Zehnder‑Lai |
|
F. Ehrat |
|
B. Koch |
|
W. Karlen |
|
T. Bachmann |
|
Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholdings Board of Directors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shares |
|
114,307 |
|
1,707 |
|
4,235 |
|
752 |
|
275 |
|
0 |
|
121,276 |
Call options |
|
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
0 |
Share of voting rights |
|
0.32% |
|
< 0.1% |
|
< 0.1% |
|
< 0.1% |
|
< 0.1% |
|
0.0% |
|
0.34% |
|
|
A. Baehny |
|
H. Reuter |
|
F. Ehrat |
|
E. Zehnder‑Lai |
|
B. Koch |
|
W. Karlen |
|
Total |
||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
2020 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Shareholdings Board of Directors |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Shares |
|
94,525 |
|
8,204 |
|
3,843 |
|
1,340 |
|
372 |
|
0 |
|
108,284 |
||||
Call options |
|
19,328 1 |
|
0 |
|
0 |
|
0 |
|
0 |
|
0 |
|
19,328 |
||||
Share of voting rights |
|
0.26% |
|
< 0.1% |
|
< 0.1% |
|
< 0.1% |
|
< 0.1% |
|
0.0% |
|
0.29% |
||||
|
||||||||||||||||||
As of 31 December 2021, and in compliance with the Articles of Incorporation of Geberit AG, there were no outstanding loans or credits between the company and the members of the Board of Directors, closely related parties or former members of the Board of Directors.