Disclosures Pursuant to the Recommendations of the German Corporate Governance Code

In accordance with the recommendations of the German Corporate Governance Code, the following tables show the compensation – including fringe benefits – granted for 2018, indicating the target values and the maximum and minimum achievable values for the variable compensation components, along with the allocation of compensation.

Compensation and Benefits Granted (Part I)

 

 

Serving members of the Board of Management as of December 31, 2018

 

 

Werner Baumann
(Chairman)

 

Liam Condon
(Crop Science)

 

Dr. Hartmut Klusik
(Human Resources, Technology & Sustainability)

 

 

Joined Jan. 1, 2010

 

Joined Jan. 1, 2016

 

Joined Jan. 1, 2016

 

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

1

The maximum achievable variable compensation shown here does not yet take into account the total caps applicable (see Chapter “Compensation of the Board of Management”).

Fixed annual compensation

 

1,487

1,511

1,511

1,511

 

806

819

819

819

 

756

768

768

768

Fringe benefits

 

49

46

46

46

 

43

45

45

45

 

40

39

39

39

Total fixed annual compensation

 

1,536

1,557

1,557

1,557

 

849

864

864

864

 

796

807

807

807

Short-term variable cash compensation

 

1,487

1,511

0

3,021

 

806

819

0

1,639

 

756

768

0

1,536

Long-term stock-based compensation (Aspire)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017 (Jan. 1, 2017 – Dec. 31, 2020) 

 

3,530

 

 

 

 

1,677

 

 

 

 

1,597

 

 

 

2018 (Jan. 1, 2018 – Dec. 31, 2021) 

 

 

2,039

0

5,099

 

 

793

0

1,982

 

 

864

0

2,160

Total

 

6,553

5,107

1,557

9,677

 

3,332

2,476

864

4,485

 

3,149

2,439

807

4,503

Service cost / benefit expense (IFRS)

 

1,290

1,254

1,254

1,254

 

563

539

539

539

 

435

433

433

433

Total compensation

 

7,843

6,361

2,811

10,931

 

3,895

3,015

1,403

5,024

 

3,584

2,872

1,240

4,936

Compensation and Benefits Granted (Part II)

 

 

Serving members of the Board of Management as of December 31, 2018

 

 

Kemal Malik
(Innovation)

 

Wolfgang Nickl
(Finance)

 

Stefan Oelrich2
(Pharmaceuticals)

 

 

Joined Feb. 1, 2014

 

Joined April 26, 2018

 

Joined Nov. 1, 2018

 

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

1

The maximum achievable variable compensation shown here does not yet take into account the total caps applicable (see Chapter “Compensation of the Board of Management”).

2

The fringe benefits for Stefan Oelrich contain an indemnity payment of €135 thousand for variable compensation components granted to him by his former employer that lapsed due to his joining Bayer. The indemnity amounts to €2,424 thousand in total and will be paid over a period of three years on a pro rata temporis basis.

Fixed annual compensation

 

781

794

794

794

 

523

523

523

 

137

137

137

Fringe benefits

 

36

37

37

37

 

41

41

41

 

142

142

142

Total fixed annual compensation

 

817

831

831

831

 

564

564

564

 

279

279

279

Short-term variable cash compensation

 

781

794

0

1,587

 

512

0

1,024

 

137

0

273

Long-term stock-based compensation (Aspire)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2017 (Jan. 1, 2017 – Dec. 31, 2020) 

 

1,591

 

 

 

 

 

 

 

 

 

 

 

2018 (Jan. 1, 2018 – Dec. 31, 2021) 

 

 

923

0

2,307

 

 

1,056

0

2,641

 

 

973

0

2,432

Total

 

3,189

2,548

831

4,725

 

2,132

564

4,229

 

1,389

279

2,984

Service cost / benefit expense (IFRS)

 

493

448

448

448

 

206

206

206

 

27

27

27

Total compensation

 

3,682

2,996

1,279

5,173

 

2,338

770

4,435

 

1,416

306

3,011

Compensation and Benefits Granted (Part III)

 

 

Serving members of the Board of Management as of December 31, 2018

 

Former members

 

 

Heiko Schipper2
(Consumer Health)

 

Johannes Dietsch3
(Finance)

 

 

Joined Mar. 1, 2018

 

Stepped down May 31, 2018

 

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

1

The maximum achievable variable compensation shown here does not yet take into account the total caps applicable (see Chapter “Compensation of the Board of Management”).

2

The fringe benefits for Heiko Schipper contain an indemnity payment of €894 thousand for variable compensation components granted to him by his former employer that lapsed due to his joining Bayer. The indemnity amounts to €1,950 thousand in total. A quarter of this amount was paid on the date he joined the Board of Management. The remaining three-quarters will be paid over a period of three years on a pro rata temporis basis.

3

Johannes Dietsch was granted a compensatory payment of €1,522 thousand under the post-contractual noncompete agreement. This will be paid out monthly over a period of two years on a pro rata temporis basis.

Fixed annual compensation

 

640

640

640

 

756

320

320

320

Fringe benefits

 

1,431

1,431

1,431

 

42

17

17

17

Total fixed annual compensation

 

2,071

2,071

2,071

 

798

337

337

337

Short-term variable cash compensation

 

640

0

1,280

 

756

320

0

640

Long-term stock-based compensation (Aspire)

 

 

 

 

 

 

 

 

 

 

2017 (Jan. 1, 2017 – Dec. 31, 2020) 

 

 

 

 

 

1,483

 

 

 

2018 (Jan. 1, 2018 – Dec. 31, 2021) 

 

 

1,104

0

2,760

 

 

432

0

1,080

Total

 

3,815

2,071

6,111

 

3,037

1,089

337

2,057

Service cost / benefit expense (IFRS)

 

142

142

142

 

483

87

87

87

Total compensation

 

3,957

2,213

6,253

 

3,520

1,176

424

2,144

Compensation and Benefits Granted (Part IV)

 

 

Former members

 

 

Erica Mann2
(Consumer Health)

 

Dieter Weinand
(Pharmaceuticals)

 

 

Stepped down March 31, 2018

 

Stepped down October 31, 2018

 

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

Target value 2017

Target value 2018

Min. 2018

Max.1 2018

 

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

€ thou­sand

€ thou­sand

1

The maximum achievable variable compensation shown here does not yet take into account the total caps applicable (see Chapter “Compensation of the Board of Management”).

2

In December 2017, Erica Mann was also awarded a severance payment of €1,978 thousand.

Fixed annual compensation

 

756

192

192

192

 

806

683

683

683

Fringe benefits

 

24

3

3

3

 

32

24

24

24

Total fixed annual compensation

 

780

195

195

195

 

838

707

707

707

Short-term variable cash compensation

 

756

192

192

192

 

806

683

0

1,366

Long-term stock-based compensation (Aspire)

 

 

 

 

 

 

 

 

 

 

2017 (Jan. 1, 2017 – Dec. 31, 2020) 

 

1,210

 

 

 

 

1,932

 

 

 

2018 (Jan. 1, 2018 – Dec. 31, 2021) 

 

 

145

0

361

 

 

1,031

0

2,578

Total

 

2,746

532

387

748

 

3,576

2,421

707

4,651

Service cost / benefit expense (IFRS)

 

275

75

75

75

 

368

278

278

278

Total compensation

 

3,021

607

462

823

 

3,944

2,699

985

4,929

Allocation of Compensation (Part I)

 

 

Serving members of the Board of Management as of December 31, 2018

 

 

Werner Baumann
(Chairman)

 

Liam Condon
(Crop Science)

 

Dr. Hartmut Klusik (Human Resources, Technology & Sustainability)

 

Kemal Malik (Innovation)

 

Wolfgang Nickl (Finance)

 

 

Joined Jan. 1, 2010

 

Joined Jan. 1, 2016

 

Joined Jan. 1, 2016

 

Joined Feb. 1, 2014

 

Joined April 26, 2018

 

 

2017

2018

 

2017

2018

 

2017

2018

 

2017

2018

 

2017

2018

 

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

1

The payments in 2017 to Johannes Dietsch, Liam Condon, Dr. Hartmut Klusik, Kemal Malik and Erica Mann from the 2013 Aspire tranche related to vesting periods that in some cases were before they joined the Board of Management. The payments in 2018 to Johannes Dietsch, Liam Condon, Dr. Hartmut Klusik, Kemal Malik, Erica Mann and Dieter Weinand from the 2014 Aspire tranche related to vesting periods that in some cases were before they joined the Board of Management. The tranches of these members were not yet fully vested at the dates on which they joined the Board of Management.

Fixed annual compensation

 

1,487

1,511

 

806

819

 

756

768

 

781

794

 

523

Fringe benefits

 

49

46

 

43

45

 

40

39

 

36

37

 

41

Total

 

1,536

1,557

 

849

864

 

796

807

 

817

831

 

564

Short-term variable cash compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

for 2017

 

1,335

 

 

519

 

 

565

 

 

604

 

 

 

for 2018

 

 

1,708

 

 

1,056

 

 

805

 

 

813

 

 

571

Long-term cash compensation (virtual Bayer shares)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013 (Jan. 1, 2014 – Dec. 31, 2016)

 

911

 

 

564

 

 

 

 

 

 

 

2014 (Jan. 1, 2015 – Dec. 31, 2017)

 

 

1,037

 

 

1,125

 

 

 

 

760

 

 

Long-term stock-based cash compensation (Aspire)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013
(Jan. 1, 2013 –
Dec. 31, 2016)1

 

959

 

 

513

 

 

312

 

 

303

 

 

 

2014
(Jan. 1, 2014 –
Dec. 31, 2017)

 

 

72

 

 

44

 

 

26

 

 

27

 

 

Total

 

4,741

4,374

 

2,445

3,089

 

1,673

1,638

 

1,724

2,431

 

1,135

Service cost / benefit expense

 

1,290

1,254

 

563

539

 

435

433

 

493

448

 

206

Total compensation

 

6,031

5,628

 

3,008

3,628

 

2,108

2,071

 

2,217

2,879

 

1,341

Allocation of Compensation (Part II)

 

 

Serving members of the Board of Management as of December 31, 2018

 

Former members

 

 

Stefan Oelrich (Pharmaceuticals)

 

Heiko Schipper2
(Consumer Health)

 

Johannes Dietsch3
(Finance)

 

Erica Mann4
(Consumer Health)

 

Dieter Weinand
(Pharmaceuticals)

 

 

Joined Nov. 1, 2018

 

Joined March 1, 2018

 

Stepped down May 31, 2018

 

Stepped down March 31, 2018

 

Stepped down October 31, 2018

 

 

2017

2018

 

2017

2018

 

2017

2018

 

2017

2018

 

2017

2018

 

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

 

€ thou­sand

€ thou­sand

1

The payments in 2017 to Johannes Dietsch, Liam Condon, Dr. Hartmut Klusik, Kemal Malik and Erica Mann from the 2013 Aspire tranche related to vesting periods that in some cases were before they joined the Board of Management. The payments in 2018 to Johannes Dietsch, Liam Condon, Dr. Hartmut Klusik, Kemal Malik, Erica Mann and Dieter Weinand from the 2014 Aspire tranche related to vesting periods that in some cases were before they joined the Board of Management. The tranches of these members were not yet fully vested at the dates on which they joined the Board of Management.

2

The fringe benefits for Heiko Schipper contain compensation of €495 thousand for variable compensation granted to him by his former employer that lapsed due to his joining Bayer.

3

In 2018, after stepping down from the Board of Management, Johannes Dietsch also received a total compensatory payment of €444 thousand and a normal accelerated payment of €560 thousand in connection with the long-term cash compensation based on virtual Bayer shares for 2015 (Jan. 1, 2016 – Dec. 31, 2018).

4

In 2018, Erica Mann also received a severance payment of €1,686 thousand, a payment of €3,825 thousand to settle pension entitlements in the United States, and current pension payments.

Fixed annual compensation

 

137

 

640

 

756

320

 

756

192

 

806

683

Fringe benefits

 

8

 

538

 

42

17

 

24

3

 

32

24

Total

 

145

 

1,178

 

798

337

 

780

195

 

838

707

Short-term variable cash compensation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

for 2017

 

 

 

 

 

679

 

 

378

 

 

810

 

for 2018

 

 

133

 

 

639

 

 

346

 

 

192

 

 

674

Long-term cash compensation (virtual Bayer shares)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013 (Jan. 1, 2014 – Dec. 31, 2016)

 

 

 

 

 

 

 

 

 

 

2014 (Jan. 1, 2015 – Dec. 31, 2017)

 

 

 

 

 

 

276

 

 

 

 

Long-term stock-based cash compensation (Aspire)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2013 (Jan. 1, 2013 – Dec. 31, 2016)1

 

 

 

 

 

279

 

 

1,596

 

 

 

2014 (Jan. 1, 2014 – Dec. 31, 2017)

 

 

 

 

 

 

21

 

 

106

 

 

33

Total

 

278

 

1,817

 

1,756

980

 

2,754

493

 

1,648

1,414

Service cost / benefit expense

 

27

 

142

 

483

87

 

275

75

 

368

278

Total compensation

 

305

 

1,959

 

2,239

1,067

 

3,029

568

 

2,016

1,692

Compare to Last Year