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28. 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 29.

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

 

Granted in

At target number outstanding as at 31-12-2020

Maximum number outstanding as at 31-12-2020

Year of vesting

O. Rigaud

2019

20,865

31,298

2022

 

2020

22,260

33,390

2023

 

2020

537

537

2021

E. van Rhede van der Kloot

2018

12,259

18,389

2021

 

2019

12,140

18,210

2022

 

2020

13,491

20,237

2023

 

2020

325

325

2021

T. de Ruiter

2018

17,027

25,541

2021

 

2019

8,852

13,278

2022

 

2020

183

183

2021

Total as at 31 December 2020

 

107,939

161,388

 

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

 

Maximum number outstanding as at 31-12-2019

Maximum number granted in 2020

Vested 2020

Expired 2020

Maximum number outstanding as at 31-12-2020

O. Rigaud

31,298

33,927

  

65,225

E. van Rhede van der Kloot

54,257

20,562

9,229

8,429

57,161

T. de Ruiter

74,197

183

18,491

16,887

39,002

Total

159,752

54,672

27,720

25,316

161,388

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

2020

Base salary1

STIP

LTIP

Pension benefits

Other benefits

Termination benefits

 

O. Rigaud

760

501

369

   

1,630

E. van Rhede van der Kloot

560

303

363

   

1,226

Total Board of Management

1,320

804

732

   

2,856

T. de Ruiter

336

171

279

   

786

Total former Board of Management

336

171

279

   

786

         

Total remuneration (former) Board of Management

1,656

975

1,011

   

3,642

 

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. 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

  • 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

2020

2019

Short-term employee benefits

5,857

5,705

Share-based payments

2,353

2,771

Post-employment benefits

117

92

Other long-term benefits

  

Termination benefits 1

1,554

 
  • 1 Including excessive levy

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. Vrijsen, Chairman (Chairman Appointment and Governance Committee / member Remuneration Committee / member Science and Technology Committee)

2020

70

23

    

93

2019

70

23

    

93

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

2020

60

16

    

76

2019

60

16

    

76

L. Doherty (member Audit Committee)

2020

50

10

    

60

 

2019

50

10

    

60

I. Haaijer (member Audit Committee / member Science and Technology Committee, started 29 June 2020)

2020

25

4

    

29

S. Schmitz (member Audit Committee, started 29 June 2020; stepped down as per 14 September 2020)

2020

15

     

15

J. de Kreij (Chairman Audit Committee)

2020

50

15

    

65

 

2019

50

15

    

65

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

2020

50

23

    

73

2019

50

23

    

73

 

Total 2020

320

91

    

411

 

Total 2019

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

 

2020

2019

2020

2019

Sales

    

Joint ventures

53.9

53.1

7.3

5.0

Purchases

    

Joint ventures

6.4

6.6

0.3

0.6

Others

    

Joint ventures

    

- Sale of Total Corbion PLA (Thailand) Limited

  

5.7

0.7

- Loans

  

56.0

62.1