Share plans for employees

Corbion has an LTIP program for (senior management, composed of around 83 employees, and an LTIP program for the Executive Committee members (not being members of the Board of Management). The long-term incentive covers a performance period of three calendar years. The LTIP performance measures are the same as for the Board of Management: TSR (30%), organic net sales growth (25%), adjusted EBITDA (20%), sustainability (12.5%), and ROCE (12.5%). For certain categories of (senior) management, part of the LTIP is not performance related and is only restricted to continued employment for three years.

The total number of conditionally granted but not yet vested shares as per 1 January 2022 for (senior) management and Executive Committee members (not being members of the Board of Management) is as follows.

The LTIP 2019-2021 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 the employees jointly, an actual pay-out level of 70.3% has been achieved for the EBITDA target, 141.8% for EPS, and 50% for TSR as Corbion ranked 7th in the peer group. This has led to a total pay-out of 80.5% of the at-target LTIP for the Executive Committee members (not being members of the Board of Management). For (senior) management an actual pay-out level of 0% has been achieved for the EBITDA target, 141.8% for EPS, and 50% for TSR as Corbion ranked 7^th in the peer group. As 30% of the total LTIP for (senior) management is not performance related and is only restricted to continued employment for three years, the actual pay-out for (senior) management is 56.9%. The total number of vested shares received by (senior) management and Executive Committee members (not being members of the Board of Management) is 52,366 representing a value of € 1,667,333 at the time of vesting (based on a vesting price of € 31.84).

The total number of performance shares conditionally granted to (senior) management and Executive Committee members (not being members of the Board of Management) in 2022 (possible vesting in 2025) is 70,410 representing a value of € 3,347,291 at the time of the grant (based on a grant price of € 34.73).

The table below shows the number of conditionally granted but not yet vested shares as at 31 December 2022 for (senior) management and Executive Committee members (not being members of the Board of Management) jointly, the grant price of the granted shares, and the remaining vesting period.