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Remuneration for the Supervisory Board

Total remuneration for the members of the Supervisory Board in 2021 amounted to € 0.4 million (2020: € 0.4 million).

Each member of the Supervisory Board receives an annual base fee of € 50,000; the Vice-Chair receives € 60,000 and the Chair € 70,000.

For membership of the Audit Committee an additional fee of € 10,000 applies and for the Chair € 15,000. Members of the Appointment and Governance Committee, Remuneration Committee, or Science and Technology Committee receive an additional € 7,000 in fee; the fee for the Chair of these committees amounts to € 9,000. In addition, members receive reimbursement of expenses.

Breakdown remuneration Supervisory Board

    
 

IAS 24.17 category

Short-term employee benefits1

 

Total

Thousands of euros

Year

Base fee

Committee fee

 

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

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

Dessi Temperley (Member Audit Committee as of May 2021)

2021

31

6

37

 

2020

   
 

Total 2021

330

106

436

 

Total 2020

320

91

411

  • * Excluding expenses

Members of the Supervisory Board are neither entitled to variable remuneration nor to shares in the company or any option rights relating thereto. The total remuneration for each (former) member of the Supervisory Board complies with the remuneration policy for the Supervisory Board, as it stays within the boundaries of this policy and no deviations from this policy have been applied. Members of the Supervisory Board are paid by Corbion nv; they did not receive remuneration from a subsidiary or another company whose financials are consolidated by Corbion nv. Corbion does not grant loans, advances, or guarantees to members of the Supervisory Board.

Remuneration former member of the Board of Management

Mr. Tjerk de Ruiter stepped down as CEO and Chair of the Board of Management as at 8 August 2019. The contract of assignment with Mr. De Ruiter expired on 12 May 2020.

The LTIP 2018-2020 series was based on the following performance measures: EBITDA (60%), Earnings per Share (EPS) (20%), and TSR (20%). For the LTIP shares conditionally granted under this plan to Tjerk de Ruiter, an actual pay-out level of 112.9% has been achieved for the EBITDA target, 101.6% for EPS, and 150% for TSR as Corbion ranked 1th in the peer group. This has led to a total pay-out of 118.1% of the at-target LTIP for Tjerk de Ruiter. The number of vested shares received by Tjerk de Ruiter is 20,109 (based on a pro-rata entitlement until 12 May 2020). Tjerk de Ruiter used the option of selling shares to finance the income tax due on the vested shares.

The table below shows the amounts Tjerk de Ruiter (i) received/was entitled to in 2021 (base salary, STIP, benefits allowance) and (ii) received/was entitled to in 2021 by way of vesting (LTIP).

Thousands of euros

Year

Base salary

STIP

LTIP

Benefits allowance

Special share award

Other compensation

Relocation

Total

T. de Ruiter (former CEO)

2021

  

956

    

956

 

2020*

225

171

591

75

  

40

1,102

  • * Until 12 May 2020