Share plans for employees

Corbion has a LTIP program for (senior) management and a 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 2023 series 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 2023 for (senior) management and Executive Committee members (not being members of the Board of Management) is as follows.

The LTIP 2020-2022 series was based on the following performance measures: Adjusted EBITDA (20%), organic sales growth (25%) ROCE (12.5%), sustainability (12.5%) and TSR (30%). For the LTIP shares conditionally granted under this plan to the employees jointly, an actual pay-out level of 92% has been achieved for the adjusted EBITDA target, 150% for organic sales growth, 112% for ROCE, 100% for sustainability and 75% for TSR as Corbion ranked 6th in the peer group. This has led to a total pay-out of 104.9% 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 91% has been achieved for the EBITDA target, 150% for organic sales growth, 112% for ROCE, 100% for sustainability and 75% for TSR as Corbion ranked 6th 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 103.3%. The total number of vested shares received by (senior) management and Executive Committee members (not being members of the Board of Management) is 78,383 representing a value of € 2,235,483 at the time of vesting (based on a vesting price of € 28.52).

The total number of performance shares conditionally granted to (senior) management and Executive Committee members (not being members of the Board of Management) in 2023 (possible vesting in 2026) is 129,857 representing a value of € 4,295,670 at the time of the grant (based on a grant price of € 33.08).

The table below shows the number of conditionally granted but not yet vested shares as at 31 December 2023 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.