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 31-12-2021 | Maximum number outstanding as at 31-12-2021 | Year of vesting | |
O. Rigaud | 2019 | 20,865 | 31,298 | 2022 |
2020 | 22,260 | 33,390 | 2023 | |
2021 | 14,722 | 22,083 | 2024 | |
2021 | 2,959 | 2,959 | 2022 | |
E. van Rhede van der Kloot | 2019 | 12,140 | 18,210 | 2022 |
2020 | 13,491 | 20,237 | 2023 | |
2021 | 8,854 | 13,281 | 2024 | |
2021 | 1,780 | 1,780 | 2022 | |
T. de Ruiter | 2019 | 8,852 | 13,278 | 2022 |
Total as at 31 December 2021 | 105,922 | 156,515 |
Breakdown of the movements in the number of shares conditionally granted to members of the (former) Board of Management
Maximum number outstanding as at 31-12-2020 | Maximum number granted in 2021 | Vested 2021 | Expired 2021 | Maximum number outstanding as at 31-12-2021 | |
O. Rigaud | 65,225 | 25,042 | 537 | 89,730 | |
E. van Rhede van der Kloot | 57,161 | 15,061 | 14,803 | 3,911 | 53,508 |
T. de Ruiter | 39,002 | 20,292 | 5,432 | 13,278 | |
Total | 161,388 | 40,102 | 35,632 | 9,343 | 156,515 |
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 | 2021 | Base salary1 | STIP | LTIP | Pension benefits | Other benefits | Termination benefits | |
O. Rigaud | 779 | 496 | 542 | 1,817 | ||||
E. van Rhede van der Kloot | 572 | 299 | 391 | 1,262 | ||||
Total Board of Management | 1,351 | 795 | 933 | 3,079 | ||||
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 | ||||
- 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 | 2021 | 2020 |
Short-term employee benefits | 5,402 | 5,857 |
Share-based payments | 2,211 | 2,353 |
Post-employment benefits | 15 | 117 |
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 | |
Mathieu Vrijsen, Chair (Chair Appointment & Governance Committee / member Remuneration Committee / member Science and Technology Committee) | 2021 | 70 | 23 | 93 | ||||
2020 | 70 | 23 | 93 | |||||
Rudy Markham, Vice-Chair (Chair Remuneration Committee / member Appointment and Governance Committee) | 2021 | 60 | 16 | 76 | ||||
2020 | 60 | 16 | 76 | |||||
Liz Doherty (member Audit Committee until May 2021 / Chair Audit Committee as of May 2021) | 2021 | 50 | 15 | 65 | ||||
2020 | 50 | 10 | 60 | |||||
Dessi Temperley (Member Audit Committee as of May 2021) | 2021 | 31 | 6 | 37 | ||||
2020 | ||||||||
Ilona Haaijer (member Audit Committee / member Science and Technology Committee) | 2021 | 50 | 17 | 67 | ||||
2020 | 25 | 4 | 29 | |||||
Jack de Kreij (Chair Audit Committee until May 2021) | 2021 | 19 | 6 | 25 | ||||
2020 | 50 | 15 | 65 | |||||
Steen Riisgaard (Chair Science and Technology Committee / member Remuneration Committee / member Appointment and Governance Committee) | 2021 | 50 | 23 | 73 | ||||
2020 | 50 | 23 | 73 | |||||
Stefanie Schmitz (member Audit Committee from June until September 2020) | 2020 | 15 | 15 | |||||
Total 2021 | 330 | 106 | 436 | |||||
Total 2020 | 320 | 91 | 411 | |||||
- 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 | |||
2021 | 2020 | 2021 | 2020 | |
Sales | ||||
Joint ventures | 85.3 | 53.9 | 13.7 | 7.3 |
Purchases | ||||
Joint ventures | 8.7 | 6.4 | 2.3 | 0.3 |
Others | ||||
Joint ventures | ||||
- Dividend | 6.6 | |||
- Sale of Total Corbion PLA (Thailand) Limited | 5.7 | |||
- Loans | 60.7 | 56.0 | ||