31 – Compensation for the Board of Executive Directors and Supervisory Board

Million €

 

2015

2014

Performance-related and not performance-related cash compensation for the Board of Executive Directors

 

18.4

21.5

Fair value of options granted to the Board of Executive Directors in the fiscal year as of grant date

 

4.3

6.0

Total compensation for the Board of Executive Directors

 

22.7

27.5

Service costs for members of the Board of Executive Directors

 

3.8

4.2

 

 

 

 

Compensation for the Supervisory Board

 

3.0

3.0

Total compensation for former members of the Board of Executive Directors and their surviving dependents

 

10.4

6.5

Pension provisions for former members of the Board of Executive Directors and their surviving dependents

 

126.5

143.5

Guarantees assumed for members of the Board of Executive Directors and the Supervisory Board

 

Performance-related compensation for the Board of Executive Directors is based on the return on assets, as well as the performance of the entire Board. Return on assets corresponds to earnings before taxes plus borrowing costs as a percentage of average assets.

The members of the Board of Executive Directors were granted 173,064 options under the long-term incentive (LTI) program in 2015.

The market valuation of the options of active and former members of the Board resulted in expenses of €6.6 million in 2015. In 2014, the market valuation of the options resulted in income of €3.7 million.