Reebok 2013 Annual Report Download - page 58

adidas Group
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2013 Annual Report
To Our Shareholders
54
2013
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01.9
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Compensation Report
In calculating the amount of the Performance Bonus, the degree
of target achievement determined for each individual performance
criterion is weighted according to the percentage value of the
respective performance criterion. The sum of the weighted degrees
of target achievement of the performance criteria is then multiplied
by the individual Bonus target amount for each Executive Board
member. The Performance Bonus is capped at a maximum of 150%
of the individual Bonus target amount. If an Executive Board member
takes or leaves office during a financial year, the Performance Bonus
is calculated on a pro rata basis.
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The LTIP Bonus serves – in line with sustainability-oriented corporate
planning – as compensation for the long-term performance of the
Executive Board. It is determined by the Supervisory Board in a
two-stage process:
When determining the LTIP 2012/2014 at the beginning of the 2012
financial year, the Supervisory Board defined the performance
criteria, linked to clear targets and oriented towards the sustainable
growth of the company, and also defined the individual amount of the
LTIP Bonus target amount for each Executive Board member, based
on a target achievement of 100% (LTIP Target Amount). At the end
of the 2014 financial year, the Supervisory Board will examine the
precise target achievement of each Executive Board member and
determine the amount of Performance Bonus to be paid, depending
on the degree of actual target achievement. Payout will be effected
after the 2014 consolidated financial statements are approved.
The Supervisory Board has determined the following performance
criteria for the LTIP Bonus:
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increase in net income attributable to shareholders,
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increase in operating free cash flow,
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increase in adidas NEO label sales, and
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development of the adidas AG share price.
The assessment base for the individual performance criteria is the
three-year period from 2012 to 2014.
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Executive Board Total Compensation in 2012 (€ in thousands)
Non-performance-related
compensation components
Performance-related
compensation
component
Total 1)
Annual
fixed salary
Other
benefits 2)
Performance
Bonus
Herbert Hainer (CEO) 1,400 30 1,236 2,666
Glenn Bennett 3) 555 14 373 942
Robin J. Stalker 595 18 391 1,004
Erich Stamminger 770 38 721 1,529
Total 3,320 100 2,721 6,141
1) The total Executive Board compensation for 2012 does not include the amount placed in the reserves for the LTIP 2012/2014 for the 2012 financial year based on the forecasted degree of target
achievement as at the balance sheet date as this amount was agreed but not granted.
2) Other benefits comprise contributions to pension insurance and non-monetary benefits resulting from the provision of company cars.
3) In accordance with Glenn Bennett’s employment contract, his compensation components were granted in US dollars. An exchange rate of 1.2862 $/€ (2012 annual average rate) was used as
the basis for calculation.
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Executive Board Total Compensation in 2013 (€ in thousands)
Non-performance-related
compensation components
Performance-related
compensation
component
Total 1)
Annual
fixed salary
Other
benefits 2)
Performance
Bonus
Herbert Hainer (CEO) 1,482 54 828 2,364
Roland Auschel 3) 137 4 65 206
Glenn Bennett 4) 547 14 241 802
Robin J. Stalker 605 16 262 883
Erich Stamminger 770 50 483 1,303
Total 3,541 138 1,879 5,558
1) The overall compensation of the Executive Board in the 2013 financial year does not include the amount placed in reserves for the LTIP 2012/2014 for the 2013 financial year based upon the
forecasted degree of target achievement as at the balance sheet date, as this compensation component was agreed but not granted.
2) Other benefits comprise contributions to pension insurance and non-monetary benefits resulting from the provision of company cars.
3) Compensation calculated pro rata temporis with effect from October 1, 2013, the effective date of Roland Auschel’s appointment to the Executive Board.
4) Glenn Bennett’s compensation components were granted as contractually agreed in US dollars. An exchange rate of 1.3283 $/€ (2013 annual average rate) was used as the basis for calculation.