28. Related-party transactions
Corbion has a related party relationship with its key management personnel, subsidiaries, and equity-accounted investees. Balances and transactions between the company and its subsidiaries, which are related parties, have been eliminated on consolidation and are not disclosed in this note.
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 Board of Management
|
Granted in |
At target number outstanding as at 31-12-2025 |
Maximum number outstanding as at 31-12-2025 |
Year of vesting |
|
|---|---|---|---|---|
|
O. Rigaud |
2023 |
26,300 |
39,450 |
2026 |
|
2024 |
49,714 |
74,571 |
2027 |
|
|
2025 |
37,179 |
55,769 |
2028 |
|
|
P. Kazius |
2023 |
2,628 |
3,942 |
2026 |
|
2024 |
21,585 |
31,312 |
2027 |
|
|
2025 |
18,162 |
27,243 |
2028 |
|
|
E. van Rhede van der Kloot |
2023 |
8,691 |
13,037 |
2026 |
|
2024 |
7,857 |
11,786 |
2027 |
|
|
Total as at 31 December 2025 |
172,116 |
257,110 |
Breakdown of the movements in the number of shares conditionally granted to members of the Board of Management
|
Maximum number outstanding as at 31-12-2024 |
Maximum number granted in 2025 |
Vested 2025 |
Expired 2025 |
Maximum number outstanding as at 31-12-2025 |
|
|---|---|---|---|---|---|
|
O. Rigaud |
152,290 |
55,769 |
14,876 |
23,393 |
169,790 |
|
P. Kazius |
41,374 |
27,243 |
4,152 |
1,967 |
62,498 |
|
E. van Rhede van der Kloot |
44,225 |
- |
7,470 |
11,933 |
24,822 |
|
Total |
237,889 |
83,012 |
26,498 |
37,293 |
257,110 |
Breakdown remuneration Board of Management
|
2025 |
IAS 24.17 category |
Short-term employee benefits |
Share-based payments |
Post-employment benefits |
Other long-term benefits |
Termination benefits |
Total |
|
|---|---|---|---|---|---|---|---|---|
|
Thousands of euros |
Base salary |
STIP |
LTIP |
Pension benefits |
Other benefits |
Termination benefits |
||
|
O. Rigaud |
965 |
361 |
821 |
- |
- |
- |
2,147 |
|
|
P. Kazius |
611 |
180 |
322 |
- |
- |
- |
1,113 |
|
|
Total Board of Management |
1,576 |
541 |
1,143 |
- |
- |
- |
3,260 |
|
|
E. van Rhede van der Kloot |
- |
- |
-75 |
- |
- |
-75 |
||
|
Total former Board of Management |
- |
- |
-75 |
- |
- |
-75 |
||
|
Total remuneration (former) Board of Management |
1,576 |
541 |
1,068 |
- |
- |
- |
3,185 |
|
|
2024 |
IAS 24.17 category |
Short-term employee benefits |
Share-based payments |
Post-employment benefits |
Other long-term benefits |
Termination benefits |
Total |
|
|---|---|---|---|---|---|---|---|---|
|
Thousands of euros |
Base salary |
STIP |
LTIP |
Pension benefits |
Other benefits |
Termination benefits |
||
|
O. Rigaud |
937 |
623 |
870 |
- |
- |
- |
2,430 |
|
|
P. Kazius 1 |
367 |
305 |
235 |
- |
- |
- |
907 |
|
|
Total Board of Management |
1,304 |
928 |
1,105 |
3,337 |
||||
|
E. van Rhede van der Kloot |
561 |
296 |
505 |
- |
- |
600 |
1,962 |
|
|
Total former Board of Management |
561 |
296 |
505 |
- |
- |
600 |
1,962 |
|
|
Total remuneration (former) Board of Management |
1,865 |
1,224 |
1,610 |
- |
- |
600 |
5,299 |
|
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 |
2025 |
2024 |
|---|---|---|
|
Short-term employee benefits |
4,795 |
6,148 |
|
Share-based payments |
2,134 |
1,766 |
|
Post-employment benefits |
17 |
32 |
|
Other long-term benefits |
- |
- |
|
Termination benefits |
711 |
600 |
Breakdown remuneration Supervisory Board
|
IAS 24.17 category |
Short-term employee benefits1 |
Total |
||
|
Thousands of euros |
Year |
Base fee |
Committee fee |
|
|
Ilona Haaijer |
2025 |
79 |
35 |
114 |
|
2024 |
70 |
45 |
115 |
|
|
Liz Doherty |
2025 |
66 |
30 |
96 |
|
2024 |
60 |
40 |
100 |
|
|
Abhijit Bhattacharya |
2025 |
38 |
25 |
63 |
|
Karen-Marie Katholm |
2025 |
38 |
19 |
57 |
|
Steen Riisgaard |
2025 |
60 |
25 |
85 |
|
2024 |
60 |
25 |
85 |
|
|
William Lin |
2025 |
60 |
30 |
90 |
|
2024 |
60 |
30 |
90 |
|
|
Mathieu Vrijsen |
2025 |
32 |
13 |
45 |
|
2024 |
85 |
50 |
135 |
|
|
Dessi Temperley |
2025 |
22 |
13 |
35 |
|
2024 |
60 |
35 |
95 |
|
|
Total 2025 |
395 |
190 |
585 |
|
|
Total 2024 |
395 |
225 |
620 |
|
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 |
|||
|---|---|---|---|---|
|
2025 |
2024 |
2025 |
2024 |
|
|
Sales |
||||
|
Joint ventures |
81.6 |
79.9 |
7.9 |
12.2 |
|
Purchases |
||||
|
Joint ventures |
9.0 |
8.8 |
0.5 |
- |
|
Others |
||||
|
Joint ventures |
||||
|
- Loans (including accrued interest) |
- |
- |
59.5 |
67.0 |
In 2025, the loan granted to joint venture TotalEnergies Corbion B.V. was reclassified as part of a disposal group held for sale. Reference is made to Note 19.