Total Board of Management remuneration in 2013. The total remuneration granted by Group companies (excluding retirement benefit commitments) to the members of the Board of Management of Daimler AG is calculated as the total of the amounts of
- the base salary in 2013,
- the half of the annual bonus for 2013 payable in 2014,
- the half of the medium-term share-based component of the annual bonus for 2013 payable in 2015 with its value at the balance sheet date (entitlement depending on the development of Daimler’s share price compared with the Dow Jones STOXX Auto Index),
- the value of the long-term share-based remuneration at the time when granted in 2013, and
- the taxable non-cash benefits in 2013.
For both of the share-based components – the second 50% of the annual bonus and the PPSP with a long-term orientation – the amounts actually paid out can deviate significantly from the values described depending on the development of the Daimler share price and on the achievement of the relevant target parameters. Upward deviation is possible only as far as the maximum limits described above. Both components can also be zero.
The remuneration of the Board of Management for the year 2013 amounts to €32.1 million (2012: €28.2 million). Of that total, €9.1 million was fixed, that is, non-performance-related remuneration (2012: €7.5 million), €12.1 million (2012: €9.3 million) was short- and medium-term variable performance-related remuneration (annual bonus with deferral), and €10.9 million was variable performance-related remuneration granted in 2013 with a long-term incentive effect (2012: €11.4 million). (See table C.46)
When comparing with the prior-year figures, with regard to the total of base salary, the annual bonus and the PPSP granted, it is necessary to consider effect pro rata over time of the appointment of Mr. Troska taking effect as of December 13, 2012.
The granting of non-cash benefits in kind, primarily the reimbursement of expenses for security precautions and the provision of company cars, resulted in taxable benefits for the members of the Board of Management in 2013 as shown in the table C.47.
|Board of Management remuneration in 2013|
|Base salary||Short and medium-term variable remuneration (annual bonus)||Long-term variable remuneration (PPSP)||Total|
|Short-term||Medium-term||Number||Value when granted
(2013: at share price €44.39)
(2012: at share price €48.23)
|In thousands of euros|
|Dr. Dieter Zetsche||2013||2,008||1,707||1,707||63,643||2,825||8,247|
|Dr. Wolfgang Bernhard||2013||715||590||590||25,458||1,130||3,025|
|Dr. Christine Hohmann-
|Prof. Dr. Thomas Weber||2013||715||626||626||27,031||1,200||3,167|
1 Taking into account supervisory board remuneration of €85,734 (2012: €88,460).
2 Taking into account supervisory board remuneration of €35,646 (2012: €10,913).
3 Taking into account supervisory board remuneration of €152,197 (2012: €173,048).
|Non-cash benefits and other fringe benefits|
|In thousands of euros|
|Dr. Dieter Zetsche||151||151|
|Dr. Wolfgang Bernhard||90||63|
|Dr. Christine Hohmann-Dennhardt||84||191|
|Prof. Dr. Thomas Weber||210||156|