29. Compensation of the Board of Executive Directors and Supervisory Board
|
2023 |
2022 |
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|---|---|---|---|---|---|---|---|---|
Non-performance-related and performance-related cash compensation of the Board of Executive Directorsa |
28.7 |
18.5 |
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Fair value of performance share units allocated to the Board of Executive Directors in the fiscal year as of allocation date |
8.6 |
10.0 |
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Total compensation of the Board of Executive Directors |
37.3 |
28.5 |
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Service costs for members of the Board of Executive Directors |
3.3 |
3.7 |
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|
|
|
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Compensation of the Supervisory Board |
3.3 |
3.3 |
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Total compensation of former members of the Board of Executive Directors and their surviving dependents |
15.3 |
9.1 |
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Pension provisions for former members of the Board of Executive Directors and their surviving dependents |
172.8 |
160.4 |
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Guarantees assumed for members of the Board of Executive Directors and the Supervisory Board |
– |
– |
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|
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The STI performance bonus is based on the performance of the Board of Executive Directors as a whole and the return on capital employed (ROCE) of the BASF Group. Subject to certain conditions, ROCE is adjusted for special items from acquisitions and divestitures. The conditions for a ROCE adjustment were not met in 2023.
Market valuation of the option rights of active and former members of the Board of Executive Directors led to expenses totaling €0.7 million in 2023, following income in the amount of €2.3 million in the previous year.
In 2023, members of the Board of Executive Directors were allocated 214,253 performance share units (PSUs) under the LTI performance share program (2022: 166,001 PSUs). Market valuation of the PSUs of members of the Board of Executive Directors resulted in an expense totaling €11.7 million in 2023 (2022: €6.7 million).