Disclosures Pursuant to the Recommen­dations of the German Corporate Governance Code

In accordance with the recommendations of the German Corporate governance comprises the long-term management and oversight of the company in accordance with the principles of responsibility and transparency. The German Corporate Governance Code sets out basic principles for the management and oversight of publicly listed companies. Code, the following tables show the compensation – including fringe benefits – granted for 2017, indicating the target values and the maximum and minimum achievable values for the variable compensation components, along with the allocation of compensation.

Compensation and Benefits Granted for 2017 (Part I)

 

 

Serving members of the Board of Management as of December 31, 2017

 

 

Werner Baumann (Chairman)

 

Liam Condon (Crop Science)

 

Johannes Dietsch (Finance)

 

 

Joined Jan. 1, 2010

 

Joined Jan. 1, 2016

 

Joined Sept. 1, 2014

 

 

Target value 2016

Target value 2017

Min. 2017

Max.1 2017

 

Target value 2016

Target value 2017

Min. 2017

Max.1 2017

 

Target value 2016

Target value 2017

Min. 2017

Max.1 2017

 

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

1

The maximum achievable variable compensation shown here does not yet take into account the caps applicable. Payments in a single year are limited to 1.8 times the target compensation (see Chapter “Compensation of the Board of Management”).

Fixed annual compensation

 

1,285

1,487

1,487

1,487

 

800

806

806

806

 

750

756

756

756

Fringe benefits

 

47

49

49

49

 

44

43

43

43

 

83

42

42

42

Total fixed annual compensation

 

1,332

1,536

1,536

1,536

 

844

849

849

849

 

833

798

798

798

Short-term variable cash compensation

 

1,475

1,487

0

2,974

 

800

806

0

1,613

 

750

756

0

1,512

Long-term stock-based compensation (Aspire)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016 (Jan. 1, 2016 – Dec. 31, 2019)

 

1,983

 

 

 

 

1,624

 

 

 

 

1,522

 

 

 

2017 (Jan. 1, 2017 – Dec. 31, 2020)

 

 

3,530

0

8,826

 

 

1,677

0

4,191

 

 

1,483

0

3,708

Total

 

4,790

6,553

1,536

13,336

 

3,268

3,332

849

6,653

 

3,105

3,037

798

6,018

Service cost / benefit expense

 

764

809

809

809

 

330

320

320

320

 

318

305

305

305

Total compensation

 

5,554

7,362

2,345

14,145

 

3,598

3,652

1,169

6,973

 

3,423

3,342

1,103

6,323

Compensation and Benefits Granted for 2017 (Part II)

 

 

Serving members of the Board of Management as of December 31, 2017

 

 

Dr. Hartmut Klusik (Human Resources, Technology & Sustainability)

 

Kemal Malik (Innovation)

 

Erica Mann2 (Consumer Health)

 

 

Joined Jan. 1, 2016

 

Joined Feb. 1, 2014

 

Joined Jan. 1, 2016

 

 

Target value 2016

Target value 2017

Min. 2017

Max.1 2017

 

Target value 2016

Target value 2017

Min. 2017

Max.1 2017

 

Target value 2016

Target value 2017

Min. 2017

Max.1 2017

 

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

1

The maximum achievable variable compensation shown here does not yet take into account the caps applicable. Payments in a single year are limited to 1.8 times the target compensation (see Chapter “Compensation of the Board of Management”).

2

In December 2017, Erica Mann was additionally awarded a severance payment of €1,978 thousand.

Fixed annual compensation

 

750

756

756

756

 

775

781

781

781

 

750

756

756

756

Fringe benefits

 

140

40

40

40

 

35

36

36

36

 

182

24

24

24

Total fixed annual compensation

 

890

796

796

796

 

810

817

817

817

 

932

780

780

780

Short-term variable cash compensation

 

750

756

0

1,512

 

775

781

0

1,562

 

750

756

0

1,512

Long-term stock-based compensation (Aspire)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2016 (Jan. 1, 2016 – Dec. 31, 2019)

 

1,522

 

 

 

 

1,573

 

 

 

 

1,522

 

 

 

2017 (Jan. 1, 2017 – Dec. 31, 2020)

 

 

1,597

0

3,992

 

 

1,591

0

3,978

 

 

1,210

0

3,025

Total

 

3,162

3,149

796

6,300

 

3,158

3,189

817

6,357

 

3,204

2,746

780

5,317

Service cost / benefit expense

 

316

305

305

305

 

318

310

310

310

 

219

257

257

257

Total compensation

 

3,478

3,454

1,101

6,605

 

3,476

3,499

1,127

6,667

 

3,423

3,003

1,037

5,574

Compensation and Benefits Granted for 2017 (Part III)

 

 

Serving members of the Board of Management as of December 31, 2017

 

Former member

 

 

Dieter Weinand (Pharmaceuticals)

 

Dr. Marijn Dekkers

 

 

Joined Jan. 1, 2016

 

Stepped down April 30, 2016

 

 

Target value 2016

Target value 2017

Min.
2017

Max.1
2017

 

Target value 2016

Target value 2017

Min.
2017

Max.1
2017

 

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

1

The maximum achievable variable compensation shown here does not yet take into account the caps applicable. Payments in a single year are limited to 1.8 times the target compensation (see Chapter “Compensation of the Board of Management”).

Fixed annual compensation

 

800

806

806

806

 

475

Fringe benefits

 

34

32

32

32

 

99

Total fixed annual compensation

 

834

838

838

838

 

574

Short-term variable cash compensation

 

800

806

0

1,613

 

475

Long-term stock-based compensation (Aspire)

 

 

 

 

 

 

 

 

 

 

2016 (Jan. 1, 2016Dec. 31, 2019) 

 

1,623

 

 

 

 

964

2017 (Jan. 1, 2017Dec. 31, 2020) 

 

 

1,932

0

4,829

 

 

Total

 

3,257

3,576

838

7,280

 

2,013

Service cost / benefit expense

 

240

240

240

240

 

382

Total compensation

 

3,497

3,816

1,078

7,520

 

2,395

Allocation of Compensation for 2016 and 2017 (Part I)

 

 

Serving members of the Board of Management as of December 31, 2017

 

 

Werner Baumann (Chairman)

 

Liam Condon (Crop Science)

 

Johannes Dietsch (Finance)

 

Dr. Hartmut Klusik (Human Resources, Technology & Sustainability)

 

 

Joined Jan. 1, 2010

 

Joined Jan. 1, 2016

 

Joined Sept. 1, 2014

 

Joined Jan. 1, 2016

 

 

2016

2017

 

2016

2017

 

2016

2017

 

2016

2017

 

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

1

The payment to Johannes Dietsch and Kemal Malik from the 2012 Aspire tranche related to vesting periods that in some cases began before they joined the Board of Management. The tranches were not yet fully vested at the dates on which they joined the Board of Management. The same applies to the payments in 2017 from the 2013 Aspire tranche for Johannes Dietsch, Liam Condon, Dr. Hartmut Klusik, Kemal Malik and Erica Mann.

2

The total service cost is the service cost in accordance with HGB plus contributions to pension funds.

Fixed annual compensation

 

1,285

1,487

 

800

806

 

750

756

 

750

756

Fringe benefits

 

47

49

 

44

43

 

83

42

 

140

40

Total

 

1,332

1,536

 

844

849

 

833

798

 

890

796

Short-term variable cash compensation

 

 

 

 

 

 

 

 

 

 

 

 

for 2016

 

2,329

 

 

1,106

 

 

978

 

 

1,053

 

for 2017

 

 

1,335

 

 

519

 

 

679

 

 

565

Long-term cash compensation (virtual Bayer shares)

 

 

 

 

 

 

 

 

 

 

 

 

2012 (Jan. 1, 2013 – Dec. 31, 2015)

 

1,747

 

 

 

 

 

 

 

 

 

 

2013 (Jan. 1, 2014 – Dec. 31, 2016)

 

 

911

 

 

564

 

 

 

 

 

 

Long-term stock-based cash compensation (Aspire)1

 

 

 

 

 

 

 

 

 

 

 

 

2012 (Jan. 1, 2012 – Dec. 31, 2015)

 

789

 

 

 

 

 

301

 

 

 

 

2013 (Jan. 1, 2013 – Dec. 31, 2016)

 

 

959

 

 

513

 

 

279

 

 

312

Total

 

6,197

4,741

 

1,950

2,445

 

2,112

1,756

 

1,943

1,673

Service cost / benefit expense2

 

764

809

 

330

320

 

318

305

 

316

305

Total compensation

 

6,961

5,550

 

2,280

2,765

 

2,430

2,061

 

2,259

1,978

Allocation of Compensation for 2016 and 2017 (Part II)

 

 

Serving members of the Board of Management as of December 31, 2017

 

Former member

 

 

Kemal Malik (Innovation)

 

Erica Mann (Consumer Health)

 

Dieter Weinand (Pharmaceuticals)

 

Dr. Marijn Dekkers

 

 

Joined Feb. 1, 2014

 

Joined Jan. 1, 2016

 

Joined Jan. 1, 2016

 

Stepped down April 30, 2016

 

 

2016

2017

 

2016

2017

 

2016

2017

 

2016

2017

 

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

1

The payment to Johannes Dietsch and Kemal Malik from the 2012 Aspire tranche related to vesting periods that in some cases began before they joined the Board of Management. The tranches were not yet fully vested at the dates on which they joined the Board of Management. The same applies to the payments in 2017 from the 2013 Aspire tranche for Johannes Dietsch, Liam Condon, Dr. Hartmut Klusik, Kemal Malik and Erica Mann.

2

The total service cost is the service cost in accordance with HGB plus contributions to pension funds.

Fixed annual compensation

 

775

781

 

750

756

 

800

806

 

475

Fringe benefits

 

35

36

 

182

24

 

34

32

 

99

Total

 

810

817

 

932

780

 

834

838

 

574

Short-term variable cash compensation

 

 

 

 

 

 

 

 

 

 

 

 

for 2016

 

1,050

 

 

798

 

 

1,274

 

 

475

 

for 2017

 

 

604

 

 

378

 

 

810

 

 

Long-term cash compensation (virtual Bayer shares)

 

 

 

 

 

 

 

 

 

 

 

2012 (Jan. 1, 2013 – Dec. 31, 2015)

 

 

 

 

 

 

 

 

 

 

3,039

2013 (Jan. 1, 2014 – Dec. 31, 2016)

 

 

 

 

 

 

 

 

 

 

 

Long-term stock-based cash compensation (Aspire)1

 

 

 

 

 

 

 

 

 

 

 

 

2012 (Jan. 1, 2012 – Dec. 31, 2015)

 

364

 

 

 

 

 

 

 

 

1,495

2013 (Jan. 1, 2013 – Dec. 31, 2016)

 

 

303

 

 

1,596

 

 

 

 

 

Total

 

2,224

1,724

 

1,730

2,754

 

2,108

1,648

 

5,583

Service cost / benefit expense2

 

318

310

 

219

257

 

240

240

 

382

Total compensation

 

2,542

2,034

 

1,949

3,011

 

2,348

1,888

 

5,965

Compare to Last Year