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Financial statements

27. Related-party transactions

Remuneration policy Board of Management

For more information on the remuneration policy see the Remuneration report. For more information on share-based payments see Note 28, Share-based compensation.

Breakdown of the number of conditionally granted shares per member of the (former) Board of Management

 

Granted in

At target' number outstanding as at 31-12-2019

Maximum number outstanding as at 31-12-2019

Year of vesting

O. Rigaud

2019

20,865

31,298

2022

E.E. van Rhede van der Kloot

2017

11,772

17,658

2020

 

2018

12,259

18,389

2021

 

2019

12,140

18,210

2022

T. de Ruiter

2017

23,585

35,378

2020

 

2018

17,027

25,541

2021

 

2019

8,852

13,278

2022

Total as at 31 December 2019

 

106,500

159,752

 

Breakdown of the movements in the number of shares conditionally granted to members of the (former) Board of Management

 

Maximum number outstanding as at 31-12-2018

Maximum number granted in 2019

Vested 2019

Expired 2019

Maximum number outstanding as at 31-12-2019

O. Rigaud

 

31,298

  

31,298

E.E. van Rhede van der Kloot

56,974

18,210

10,101

10,826

54,257

T. de Ruiter

111,848

13,278

19,840

31,089

74,197

Total

168,822

62,786

29,941

41,915

159,752

Breakdown remuneration (former) Board of Management

 

IAS 24.17 category

Short-term employee benefits

Share-based payments

Post-employment benefits

Other long-term benefits

Termination benefits

Total

Thousands of euros

2019

Base salary1

STIP

LTIP

Pension benefits

Other benefits

Termination benefits

 

O. Rigaud (as from 1 July 2019)

410

151

135

   

696

E.E. van Rhede van der Kloot

558

160

428

   

1,146

Total Board of Management

968

311

563

   

1,842

         

T. de Ruiter (CEO until 8 August 2019, thereafter Advisor to the Supervisory Board)

811

784

875

   

2,470

Total former Board of Management

811

784

875

   

2,470

         

Total remuneration (former) Board of Management

1,779

1,095

1,438

   

4,312

 

IAS 24.17 category

Short-term employee benefits

Share-based payments

Post-employment benefits

Other long-term benefits

Termination benefits

Total

Thousands of euros

2018

Base salary1

STIP

LTIP

Pension benefits

Other benefits

Termination benefits

 

T. de Ruiter

 

804

756

245

   

1,805

E.E. van Rhede van der Kloot

 

530

133

125

   

788

Total Board of Management

1,334

889

370

   

2,593

  • 1 Base salary also includes social security contributions and compensation, mainly allowances for expenses.

The tables above show the costs based on the applicable IFRS standard and do not necessarily reflect the actual amounts paid.

Compensation of key management personnel

The table below specifies the remuneration of the Executive Committee (ExCo), comprising the Board of Management members as listed above and the additional ExCo members who are not part of the Board of Management.

Thousands of euros

2019

2018

Short-term employee benefits

5,705

4,466

Share-based payments

2,771

911

Post-employment benefits

92

85

Other long-term benefits

  

Termination benefits

  

Breakdown remuneration Supervisory Board

 

IAS 24.17 category

Short-term employee benefits1

 

Share-based payments

Post-employment benefits

Other long-term benefits

Termination benefits

Total

Thousands of euros

Year

Base fee

Committee fee

LTIP

Pension benefits

Other benefits

Termination benefits

 

M.F.J.P. Vrijsen, Chairman (Chairman Appointment and Governance Committee / member Remuneration Committee / member Science and Technology Committee)

2019

70

23

    

93

2018

70

23

    

93

R.H.P. Markham, Vice-Chairman (Chairman Remuneration Committee / member Appointment and Governance Committee)

2019

60

16

    

76

2018

60

16

    

76

M.E. Doherty (member Audit Committee)

2019

50

10

    

60

2018

50

10

    

60

J.P. de Kreij (Chairman Audit Committee)

2019

50

15

    

65

2018

50

15

    

65

S. Riisgaard (Chairman Science and Technology Committee / member Remuneration Committee / member Appointment and Governance Committee)

2019

50

23

    

73

2018

50

23

    

73

 

Total 2019

280

87

    

367

 

Total 2018

280

87

    

367

  • 1 Excluding expenses

No loans or advance payments or any guarantees to that effect have been made or issued to the members of the Supervisory Board. None of the members of the Supervisory Board have shares in the company or any option rights relating thereto.

Other related-party transactions

 

Transaction values for the year ended

Balance outstanding at year-end

 

2019

2018

2019

2018

Sales

    

Joint ventures

53.1

38.8

5.0

3.6

Purchases

    

Joint ventures

6.6

7.5

0.6

0.0

Others

    

Joint ventures

    

- Sale of Total Corbion PLA (Thailand) Limited

  

0.7

6.1

- Loans

  

62.1

55.7