BMW 2015 Annual Report Download - page 192

192
Total compensation of the Board of Management for the
finan cial year 2015 (2014)
The total compensation of the current members of the
Board of Management of BMW AG for the financial year
2015 amounted to € 35.5 million (2014: € 35.4 million),
of which € 7.7 million (2014: € 7.7 million) relates to fixed
components (including other remuneration). Variable
components amounted to € 27.1 million (2014: € 27.0 mil-
lion) and the share-based remuneration component to
€ 0.7 million (2014: € 0.7 million).
Compensation of the individual members of the Board of Management for the financial year 2015 (2014)
in € or Fixed compensation Variable Share-based compensation Com- Total value
number of cash com- component pensation of benefits
matching shares
Basic Other pensation (matching component)1Total allocated in
compen- compen- Total
Number Monetary financial year
2
sation sation value
Harald Krüger 1,280,645 21,809 1,302,454 4,786,438 1,478 130,079 6,218,971 6,088,892
(900,000) (18,071) (918,071) (3,245,550) (1,055) (88,135) (4,251,756) (4,163,621)
Norbert Reithofer3 552,419 11,652 564,071 1,940,981
4
– – 2,505,052 2,505,052
(1,500,000) (30,152) (1,530,152) (5, 563,800 )(1,810) ( 151,207 )(7,245,159) (7,093,952)
Milagros Caiña 825,000 74,717 899,717 3,058,588 1,014 89,242 4,047,547 3,958,305
Carreiro-Andree (750,000) (68,555) (818,555) (2,781,900) (971) (81,117) (3,681,572)
(3,600,455)
Klaus Draeger 900,000 24,797 924,797 3,293,863 1,092 96,107 4,314,767 4,218,660
(900,000) (24,790) (924,790) (3,245,550) (1,133) (94,651) (4,264,991) (4,170,340)
Friedrich Eichiner 900,000 23,982 923,982 3,293,863 1,092 96,107 4,313,952 4,217,845
(900,000) (21,952) (921,952) (3,245,550) (1,133) (94,651) (4,262,153) (4,167,502)
Klaus Fröhlich 750,000 71,792 821,792 2,823,290 871 76,657 3,721,739 3,645,082
(46,371) (394) (46,765) (172,000) (52) (4,623) (223,388) (218,765)
Ian Robertson 900,000 14,501 914,501 3,293,863 1,092 96,107 4,304,471 4,208,364
(900,000) (14,161) (914,161) (3,245,550) (1,133) (94,651) (4,254,362) (4,159,711)
Peter 750,000 31,101 781,101 2,823,311 936 82,377 3,686,789 3,604,412
Schwarzenbauer (750,000) (26,481) (776,481) (2,781,900) (971) (81,117) (3,639,498)
(3,558,381)
Oliver Zipse5 475,806 44,089 519,895 1,791,119 457 48,602 2,359,616 2,311,014
(–) (–) (–) (–) (–) (–) (–)
(–)
Total6 7,333,870 318,440 7,652,310 27,105,316 8,032 715,278 35,472,904 34,757,626
(7,490,726) (225,136) (7,715,862) (27,031,160) (8,258) (690,152) (35,437,174) (34,747,022)
1 Provisional number or provisional monetary value calculated at grant date (date on which the entitlement became binding in law). The final number of matching shares is
determined in each case when the requirement to invest in BMW AG common stock has been fulfilled. See note 19 to the Group Financial Statements for a description of the
accounting treatment of the share-based compensation component.
2 Value of benefits allocated in financial year 2015 for work performed on the Board of Management during the financial year 2015. No share-based remuneration component
(matching component) from previous years fell due for payment in the financial year 2015, since holding period requirements had not yet been fulfilled.
3 Member of the Board of Management until 13. 05. 2015.
4 In line with agreed terms, the variable cash remuneration of Dr Reithofer for the financial year 2015 was calculated based on target attainment for the financial year 2013.
5 Member of the Board of Management since 13. 05. 2015.
6 Disclosures for the previous year include amounts relating to a member of the Board of Management who left office during the financial year 2014.
in € million 2015 2014
Amount Proportion Amount Proportion
in % in %
Fixed compensation 7. 7 21.7 7.7 21.8
Variable cash
compensation 27.1 76.3 27.0 76.3
Share-based compen-
sation component* 0.7 2.0 0.7 1.9
Total compensation 35.5 100.0 35.4 100.0
* Matching component; provisional number or provisional monetary value calculated at
grant date (date on which the entitlement became binding in law). The final number
of matching shares is determined in each case when the requirement to invest in
BMW AG common stock has been fulfilled.
ing on the level of his own performance-related remu-
neration. Other entitlements resulting from the service
contract were settled subsequent to Dr Reithofer leaving
the Board of Management, in line with agreed terms, by
a payment of € 2.5 million in 2015. The Company made
a final pension contribution of € 0.7 million on behalf of
Dr Reithofer for the financial year 2015.
No commitments or agreements exist to pay compensa-
tion if a board member’s mandate is terminated early in
the event of a change of control or a takeover offer. No
members of the Board of Management received any pay-
ments or benefits from third parties in 2015 on account
of their activities as members of the Board of Manage-
ment
of BMW AG.
Remuneration caps
The Supervisory Board has stipulated caps for all variable
remuneration components and for the remuneration of
Board of Management members in total. The caps are
shown in the table “Overview of compensation system
and compensation components”.
168 STATEMENT ON
CORPORATE GOVERNANCE
(Part of Management Report)
168 Information on the Company’s
Governing Constitution
169 Declaration of the Board of
Management and of the
Supervisory
Board pursuant to
§ 161 AktG
170 Members of the Board of
Management
171
Members of the Supervisory
Board
174 Work Procedures of the
Board of Management
176 Work Procedures of the
Supervisory Board
181 Disclosures pursuant to the Act
on Equal Gender Participation
182 Information on Corporate
Governance Practices
184 Compliance in the BMW Group
188 Compensation Report