Kontakt Contact Liste mémo Comparaison Connexion Produits Applications Service Entreprise Concernant SIMONA News and press releases Investor Relations SIMONA key facts Corporate Governance Corporate governance statement including Corporate governance report Compensation system of the Management Board Declaration of conformity Compliance Report by the Supervisory Board Attendance at Supervisory Board Meetings Compensation Report Directors' dealings Statutory auditor SIMONA shares Financial Results Press Conference Financial Calendar and Reports Annual General Meeting Offres d'emploi et carrière Contact SIMONA AG Investor Relations Teichweg 16 55606 Kirn Germany Phone +49 (0) 67 52 14-383 Fax +49 (0) 67 52 14-738 ir@simona-group.com Compensation Report for the Financial Year 2020 Management Board compensation The Supervisory Board, based on the recommendations of the Personnel Committee, is responsible for determining the overall compensation of the respective Management Board members. It also regularly reviews the compensation system relating to the Management Board. The Personnel Committee consists of the Supervisory Board Chairman Dr. Rolf Goessler as well as the Supervisory Board members Roland Frobel and Dr. Roland Reber. Compensation for the members of the Management Board of SIMONA AG is calculated on the basis of the size of the company, its commercial and financial position, as well as the level and structure of compensation granted to Management Board members of similar enterprises. In addition, the duties and the contribution of the respective members of the Management Board are taken into account. Management Board compensation is performance-based. It is comprised of a fixed level of remuneration as well as a variable component. The fixed component of compensation is paid as a salary on a monthly basis. The variable component of compensation is reviewed annually, while the fixed component is assessed once every two years. In addition, both components a resubject to thorough analyses in intervals of two to three years, based on a comparison with compensation figures applicable to executive staff of similar enterprises. The variable component of Management Board compensation is based on earnings performance within the Group and a long-term incentive programme. As regards the performance periods 2019 to 2021, average Group NOPAT (net operating profit after tax) is used as the key performance indicator, calculated on the basis of a three-year performance period. The first performance period encompasses the financial years 2019 to 2021, the second performance period comprises the financial years 2020 to 2022 and the third performance period covers the financial years from 2021 to 2023. Payment occurs subsequent to the adoption of the consolidated financial statements for the final year of the respective performance period. In the financial year under review Management Board compensation included the following components: Composition of Management Board compensation in €'000 2020 2019 Fixed compensation Fixed salary and fringe benefits 926 1,140 Variable compensation Annual bonus 622 959 Long-term incentive programme Period 2017-2019, payment 2020 - 502 Period 2018-2020, payment 2020/2021 119 330 Period 2019-2021, payment 2020 - 126 Total compensation 1,667 3,057 On 10 June 2016, the Annual General Meeting of Shareholders of SIMONA AG agreed by a majority of three-quarters to disclose Management Board compensation in an aggregated format, divided into fixed and performance-related components, rather than disclosing each amount by name. The resolution is valid up to and including the 2020 financial year. Therefore, no individual, i.e. itemised, disclosures are made under Section 285 no. 9 a) sentence 5 to 8 and Section 314(1) no. 6 a) sentence 5 to 8 of the German Commercial Code (Handelsgesetzbuch – HGB). The company‘s Articles of Association contain no provisions that are non-compliant with those set out in the German Stock Corporation Act as regards the conditions applicable to the appointment or removal of Management Board members as well as amendments to the company‘s Articles of Association. In view of this, readers are asked to refer to the relevant statutory provisions set out in Sections 84, 85, 133 and 179 of the German Stock Corporation Act (Aktiengesetz – AktG) for further details. Remuneration for the former members of the Management Board amounts to €466 thousand (previous year: €304 thousand). Pension provisions for active and former members of the Management Board, as governed by the German Commercial Code, were recognised to the full extent and amounted to €13,383 thousand as at the end of the financial year under review (previous year: €12,651 thousand). IFRS-based pension provisions for active and former members of the Management Board were recognised to the full extent and amounted to €18,443 thousand as at the end of the reporting period after netting with the plan assets (previous year: €17,393 thousand). The members of the Management Board also receive fringe benefits in the form of non-cash remuneration, which mainly consists of a company car, telephone and insurance policies. Members of the Management Board received neither loans or share options nor other share-based compensation from the company. Supervisory Board compensation Supervisory Board compensation is calculated according to the size of the company, as well as the duties and responsibilities of the Supervisory Board members. The Chairman and the Deputy Chairman as well as members involved in Committees receive supplementary compensation. Members of the Supervisory Board of SIMONA AG receive a standard fixed level of compensation amounting to €13,000. The Chairman of the Supervisory Board receives an amount equivalent to double the standard level of compensation; the Deputy Chairman receives an amount equivalent to one and a half times the standard level of compensation. Supervisory Board members who are engaged in Committee work receive supplementary fixed compensation of €7,000. All expenses associated directly with a position on the Supervisory Board, as well as sales tax payable on such compensation, are reimbursed. In addition to fixed compensation, the General Meeting of Shareholders shall be authorised to pass a resolution on a variable component of compensation, payment of which shall be dependent on whether specific corporate performance indicators have been met or exceeded. At the Annual General Meeting of Shareholders on 5 June 2020 no such resolution for variable compensation components was passed for the 2020 financial year. Supervisory Board compensation for the financial year under review amounted to €158 thousand (previous year: €156 thousand), of which €140 thousand (previous year: €140 thousand) was attributable to SIMONA AG. Members of the Supervisory Board received neither loans or share options nor other share-based compensation from the company. This document is published in German and as an English translation. Only the German original shall be deemed authoritative. 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