Board of Management remuneration in 2015

Board of Management remuneration in 2015 pursuant to Section 314 Subsection 1 No. 6 of the German Commercial Code (HGB)

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 2015,
  • the half of the annual bonus for 2015 payable in 2016 and measured as of the end of the reporting period,
  • the half of the medium-term share-based component of the annual bonus for 2015 payable in 2017 with its value at the end of the reporting period (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 (PPSP)at the time when granted in 2015, and
  • the taxable non-cash benefits in 2015.

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 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 2015 amounts to €38.8 million (2014: €29.9 million). Of that total, €9.1 million was fixed, that is, non-performance-related remuneration (2014: €8.2 million), €17.4 million (2014: €11.6 million) was short- and medium-term variable performance-related remuneration (annual bonus with deferral), and €12.3 million was variable performance-related remuneration granted in 2015 with a long-term incentive effect (2014: €10.1 million). (See table B.52)

B.52 Board of Management remuneration in 2015

    Base salary Short and medium-term
variable remuneration
annual bonus)
Long-term variable remuneration
(PPSP)
 
Total
      Short-term Medium-term Number Value when granted
(2015: at share price €83.35)
(2014: at share price €66.83)
 
In thousands of euros
               
Dr. Dieter Zetsche 2015 2,008 2,289 2,289 37,092 3,092 9,678
  2014 2,008 1,727 1,727 43,424 2,902 8,364
Dr. Wolfgang Bernhard 2015 824 939 939 16,564 1,381 4,083
  2014 779 670 670 18,380 1,228 3,347
Dr. Christine Hohmann-Dennhardt 2015 781 851 851 14,837 1,237 3,720
  2014 758 633 633 17,370 1,161  
Ola Källenius 2015 781 890 890 14,837 1,237 3,798
  2014            
Wilfried Porth 2015 781 890 890 15,512 1,293 3,854
  2014 758 652 652 18,159 1,1511 3,213
Andreas Renschler2 2015
  2014 62 47 47 156
Hubertus Troska 2015 781 890 890 14,837 1,237 3,798
  2014 758 652 652 17,370 1,161 3,223
Bodo Uebber 2015 928 1,058 1,058 17,737 1,478 4,522
  2014 901 775 775 20,765 1,2983 3,749
Prof. Dr. Thomas Weber 2015 781 890 890 15,754 1,313 3,874
  2014 758 652 652 18,444 1,233 3,295
               
Total 2015 7,665 8,697 8,697 147,170 12,268 37,327
  2014 6,782 5,808 5,808 153,912 10,134 28,532

1 PPSP 2014 taking into account board remuneration of €62,707.

2 Board of Management remuneration paid until January 28, 2014.

3 PPSP 2014 taking into account board remuneration of €89,391.

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 2015 as shown in table B.53.

B.53 Taxable non-cash benefits and other fringe benefits

  2015 2014
In thousands of euros    
     
Dr. Dieter Zetsche 148 163
Dr. Wolfgang Bernhard 90 163
Dr. Christine Hohmann-Dennhardt 97 94
Ola Källenius 189
Wilfried Porth 107 93
Andreas Renschler1 8
Hubertus Troska2 493 431
Bodo Uebber 188 332
Prof. Dr. Thomas Weber 127 121
     
Total 1,439 1,405

1 Board of Management remuneration paid until January 28, 2014.

2 For the fulfillment of disclosure obligations pursuant to Section 285 No. 9a of the German Commercial Code (HGB), this amount is reduced by €170,820for the year 2015 (2014: €139,000). The corresponding fringe benefits were granted and borne by a subsidiary and are thus not included in the amounts to be disclosed in the annual financial statements of the parent company, Daimler AG.

Details of Board of Management remuneration in 2015 pursuant to the requirements of the German Corporate Governance Code

The following tables show for each individual member of the Board of Management on the one hand the benefits granted for the financial year and on the other hand the payments made in or for the reporting year and the retirement pension expense in or for the reporting year in accordance with the recommendations of Clause 4.2.5 paragraph 3 of the German Corporate Governance Code.

The total of “benefits granted” for financial year 2014 is calculated from

  • the base salary in 2014,
  • the taxable non-cash benefits and other fringe benefits in 2014,
  • the half of the annual bonus payable in 2015 for 2014 at the value for target achievement of 100 %,
  • the half of the share-based annual bonus payable in 2016 for 2014 at the value for target achievement of 100 %,
  • the value of the long-term share-based remuneration (PPSP) at the time when granted in 2014 (payable in 2018), and
  • the retirement pension expense in 2014 (service costs in 2014).

The total of “benefits granted” for financial year 2015 is calculated from:

  • the base salary in 2015,
  • the taxable non-cash benefits and other fringe benefits in 2015,
  • the half of the annual bonus payable in 2016 for 2015 at the value for target achievement of 100 %,
  • the half of the share-based annual bonus payable in 2017 for 2015 at the value for target achievement of 100 %,
  • the value when granted in 2015 (payable in 2019) of the long-term share-based remuneration (PPSP), and
  • the retirement pension expense in 2015 (service costs in 2015).

The total of “payments made” for financial year 2014 is calculated from:

  • the base salary in 2014,
  • the taxable non-cash benefits and other fringe benefits in 2014,
  • the half of the annual bonus payable in 2015 for 2014 at the value as of the end of the reporting period in financial year 2014,
  • the half of the share-based annual bonus paid in 2014 for 2012,
  • the value of the long-term share-based remuneration (PPSP 2010) paid in 2014,
  • the dividend equivalent of the current PPSP (2011, 2012, 2013 and 2014) paid in 2014, and
  • the retirement pension expense in 2014 (service costs in 2014).

The caps possible to ensure the total maximum amount shown in the table of benefits granted in the year 2014 are implemented with the payout of PPSP 2014, which constitutes the last payment to be made of the components of remuneration granted in 2014. For the year 2014, therefore, the possible cap would take place in 2018, the year that PPSP 2014 is paid out.

The total of “payments made” for financial year 2015 is calculated from:

  • the base salary in 2015,
  • the taxable non-cash benefits and other fringe benefits in 2015,
  • the half of the annual bonus payable in 2016 for 2015 at the value as of the end of the reporting period,
  • the half of the share-based annual bonus paid in 2015 for 2013,
  • the amount of the long-term share-based remuneration (PPSP 2011) paid in 2015,
  • the dividend equivalent of the current PPSP (2012, 2013, 2014 and 2015) paid in 2015, and
  • the retirement pension expense in 2015 (service costs in 2015).

The caps possible to ensure the total maximum amount shown in the table of benefits granted for the reporting year 2015 are implemented with the payout of PPSP 2015, which constitutes the last payment to be made of the components of remuneration granted in 2015. For the year 2015, therefore, the possible cap would take place in 2019, the year that PPSP 2015 is paid out.

B.55 Benefits granted

Dr. Dieter Zetsche
Chairman of the Board of Management,
Head of Mercedes-Benz Cars
  Dr. Wolfgang Bernhard
Daimler Trucks & Buses
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  2014 2015 min. max.   2014 2015 min. max.
In thousands of euros                  
                   
Base salary 2,008 2,008 2,008 2,008   779 824 824 824
Taxable non-cash benefits
and other fringe benefits

163

148

148

148
 
163

90

90

90
Total 2,171 2,156 2,156 2,156   942 914 914 914
Annual variable remuneration
(50 % of annual bonus, short-term)

1,004

1,004

0

2,360
 
390

412

0

968
Deferral (50 % of annual bonus, medium-term) 1,004 1,004 0 2,360   390 412 0 968
Long-term variable remuneration
(plan period of 4 years)

2,902

3,092

0

6,875
 
1,228

1,381

0

3,070
Total 4,910 5,100 0 11,595   2,008 2,205 0 5,006
Retirement pension expense (service costs) 827 1,044 1,044 1,044   380 448 448 448
                   
Total remuneration 7,908 8,300 3,200 14,795   3,330 3,567 1,362 6,368
Total limit1 for components of remuneration
granted in the reporting year
Excluding
– Taxable non-cash benefits and other fringe benefits
– Retirement pension expense (service costs)
10,149     10,149   5,172     5,464
 
  Dr. Christine Hohmann-Dennhardt
Integrity & Legal Affairs
  Ola Källenius
Mercedes-Benz Cars Marketing & Sales
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  2014 2015 min. max.   2014 2015 min. max.
In thousands of euros                  
                   
Base salary 758 781 781 781   781 781 781
Taxable non-cash benefits
and other fringe benefits

94

97

97

97
 

189

189

189
Total 852 878 878 878   970 970 970
Annual variable remuneration
(50 % of annual bonus, short-term)

379

391

0

919
 

391

0

919
Deferral (50 % of annual bonus, medium-term) 379 391 0 919   391 0 919
Long-term variable remuneration
(plan period of 4 years)

1,161

1,237

0

2,750
 

1,237

0

2,750
Total 1,919 2,019 0 4,588   2,019 0 4,588
Retirement pension expense (service costs)   117 117 117
                   
Total remuneration 2,771 2,897 878 5,466   3,106 1,087 5,675
Total limit1 for components of remuneration
granted in the reporting year
Excluding
– Taxable non-cash benefits and other fringe benefits
– Retirement pension expense (service costs)
4,971     5,058       5,058
 
  Wilfried Porth
HR and Labor Relations Director,
IT & Mercedes-Benz Vans
Andreas Renschler2
 
Hubertus Troska
Greater China
  Jan. 1 – Dec. 31, Jan. 1
– Dec. 31,
Jan. 1 – Jan. 28, Jan. 1 – Dec. 31, Jan. 1
– Dec. 31,
  2014 2015 min. max. 2014 2014 2015 min. max.
In thousands of euros                  
                   
Base salary 758 781 781 781 62 758 781 781 781
Taxable non-cash benefits
and other fringe benefits

93

107

107

107

8

431

493

493

493
Total 851 888 888 888 70 1,189 1,274 1,274 1,274
Annual variable remuneration
(50 % of annual bonus, short-term)

379

391

0

919

31

379

391

0

919
Deferral (50 % of annual bonus, medium-term) 379 391 0 919 31 379 391 0 919
Long-term variable remuneration
(plan period of 4 years)

1,214

1,293

0

2,875
 
1,161

1,237

0

2,750
Total 1,972 2,075 0 4,713 62 1,919 2,019 0 4,588
Retirement pension expense (service costs) 220 281 281 281 30 314 342 342 342
                   
Total remuneration 3,043 3,244 1,169 5,882 162 3,422 3,635 1,616 6,204
Total limit1 for components of remuneration
granted in the reporting year
Excluding
– Taxable non-cash benefits and other fringe benefits
– Retirement pension expense (service costs)
5,066     5,153 233 4,971     5,058
 
  Bodo Uebber
Finance & Controlling,
Daimler Financial Services
  Prof. Dr. Thomas Weber
Group Research &
Mercedes-Benz Cars Development
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  Jan. 1 – Dec. 31, Jan. 1
– Dec. 31,
  2014 2015 min. max.   2014 2015 min. max.
In thousands of euros                  
                   
Base salary 901 928 928 928   758 781 781 781
Taxable non-cash benefits
and other fringe benefits

332

188

188

188
 
121

127

127

127
Total 1,233 1,116 1,116 1,116   879 908 908 908
Annual variable remuneration
(50 % of annual bonus, short-term)

451

464

0

1,090
 
379

391

0

919
Deferral (50 % of annual bonus, medium-term) 451 464 0 1,090   379 391 0 919
Long-term variable remuneration
(plan period of 4 years)

1,388

1,478

0

3,288
 
1,233

1,313

0

2,920
Total 2,290 2,406 0 5,468   1,991 2,095 0 4,758
Retirement pension expense (service costs) 676 834 834 834   333 419 419 419
                   
Total remuneration 4,199 4,356 1,950 7,418   3,203 3,422 1,327 6,085
Total limit1 for components of remuneration
granted in the reporting year
Excluding
– Taxable non-cash benefits and other fringe benefits
– Retirement pension expense (service costs)
5,922     6,025   5,100     5,187

1 Total limit = maximum amount 1.5 times (Dr. Zetsche)/1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

2 In 2014, Board of Managemenrt remuneration paid until January 28, 2014.

B.56 Payments made

  Dr. Dieter Zetsche
Chairman of the Board
of Management,
Head of Mercedes-Benz
Cars
  Dr. Wolfgang Bernhard
Daimler Trucks & Buses
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31
,
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  2014 2015   2014 2015
In thousands of euros          
           
Base salary 2,008 2,008   779 824
Taxable non-cash benefits and other fringe benefits 163 148   163 90
Total 2,171 2,156   942 914
Annual variable remuneration (50 % of annual bonus, short-term) 1,727 2,289   670 939
Deferral (50 % of annual bonus, medium-term) 1,583 1,809   564 626
Long-term variable remuneration          
Payment of PPSP 2010 7,524   2,770
Payment of PPSP 2011 6,416   2,566
Dividend equivalent PPSP 2011 195   78
Dividend equivalent PPSP 2012 154 304   61 122
Dividend equivalent PPSP 2013 143 156   57 62
Dividend equivalent PPSP 2014 98 106   41 45
Dividend equivalent PPSP 2015 91   41
Total 11,424 11,171   4,241 4,401
Retirement pension expense (service costs) 827 1,044   380 448
           
Total remuneration 14,422 14,371   5,563 5,763
           
  Dr. Christine
Hohmann-Dennhardt

Integrity & Legal Affairs
    Ola Källenius
Mercedes-Benz Cars
Marketing & Sales
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  2014 2015   2014 2015
In thousands of euros          
           
Base salary 758 781   781
Taxable non-cash benefits and other fringe benefits 94 97   189
Total 852 878   970
Annual variable remuneration (50 % of annual bonus, short-term) 633 851   890
Deferral (50 % of annual bonus, medium-term) 584 626  
Long-term variable remuneration          
Payment of PPSP 2010  
Payment of PPSP 2011 2,246   268
Dividend equivalent PPSP 2011 68  
Dividend equivalent PPSP 2012 61 122   15
Dividend equivalent PPSP 2013 57 62   8
Dividend equivalent PPSP 2014 39 43   12
Dividend equivalent PPSP 2015 36   36
Total 1,442 3,986   1,229
Retirement pension expense (service costs)   117
           
Total remuneration 2,294 4,864   2,316
  Wilfried Porth
HR and
Labor Relations Director,
IT & Mercedes-Benz Vans
Andreas
Renschler
1
Hubertus Troska
Greater China
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
Jan. 1
– Jan. 28,
Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  2014 2015 2014 2014 2015
In thousands of euros          
           
Base salary 758 781 62 758 781
Taxable non-cash benefits and other fringe benefits 93 107 8 431 493
Total 851 888 70 1,189 1.274
Annual variable remuneration (50 % of annual bonus, short-term) 652 890 47 652 890
Deferral (50 % of annual bonus, medium-term) 564 645 595 27 626
Long-term variable remuneration          
Payment of PPSP 2010 3,009   1,231
Payment of PPSP 2011 2,566   1,050
Dividend equivalent PPSP 2011 78   32
Dividend equivalent PPSP 2012 61 122   25 50
Dividend equivalent PPSP 2013 57 62   57 62
Dividend equivalent PPSP 2014 41 44   39 43
Dividend equivalent PPSP 2015 38   36
Total 4,462 4,367 642 2,063 2,757
Retirement pension expense (service costs) 220 281 30 314 342
           
Total remuneration 5,533 5,536 742 3,566 4,373
           
  Bodo Uebber
Finance & Controlling,
Daimler Financial Services
  Prof. Dr. Thomas Weber
Group Research &
Mercedes-Benz Cars Development
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  Jan. 1
– Dec. 31,
Jan. 1
– Dec. 31,
  2014 2015   2014 2015
In thousands of euros          
           
Base salary 901 928   758 781
Taxable non-cash benefits and other fringe benefits 332 188   121 127
Total 1,233 1,116   879 908
Annual variable remuneration (50 % of annual bonus, short-term) 775 1,058   652 890
Deferral (50 % of annual bonus, medium-term) 707 781   544 664
Long-term variable remuneration          
Payment of PPSP 2010 3,598   3,194
Payment of PPSP 2011 3,068   2,725
Dividend equivalent PPSP 2011 93   83
Dividend equivalent PPSP 2012 73 146   65 129
Dividend equivalent PPSP 2013 68 75   61 66
Dividend equivalent PPSP 2014 47 51   41 45
Dividend equivalent PPSP 2015 43   39
Total 5,361 5,222   4,640 4,558
Retirement pension expense (service costs) 676 834   333 419
           
Total remuneration 7,270 7,172   5,852 5,885

1 In 2014, Board of Management remuneration paid until January 28, 2014.

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