Board of Management remuneration in financial year 2018

Board of Management remuneration in 2018 pursuant to Section 314 Subsection 1 No. 6 of the German Commercial Code (HGB)

The total remuneration granted by Group companies (excluding retirement benefit commitments) to the members of the Board of Management of Daimler AG is calculated as the total of the amounts of

  • the base salary in 2018,
  • the half of the annual bonus for 2018 payable in 2019 and measured as of the end of the reporting period,
  • the half of the medium-term share-based component of the annual bonus for 2018 payable in 2020 with its value at the end of the reporting period (entitlement depending on the development of Daimler’s share price compared with the STOXX Europe Auto Index),
  • the value of the long-term share-based remuneration (PPSP) at the time when granted in 2018, and
  • the taxable non-cash benefits in 2018.

For both of the share-based components — the second 50 % of the annual bonus and the PPSP with a long-term orientation — the amounts actually paid out can deviate significantly from the values described depending on the development of the Daimler share price and on the achievement of the relevant target parameters. Upward deviation is possible only as far as the maximum limits described above. Both components can also be zero.

The possible upper limits with regard to the annual bonus and the PPSP are shown in tables B.55 and B.56

Daimler AR2018 B.55 Annual bonus board
Daimler AR2018 B.56 PPSP 2014

The total remuneration of the Board of Management for the financial year 2018 amounts to €24.7 million (2017: €35.0 million). Of that total, €9.5 million was fixed, that is, non-performance-related remuneration (2017: €9.5 million), €5.0 million (2017: €15.3 million) was short-term and medium-term variable performance-related remuneration (annual bonus with deferral), and €10.2 million was variable performance-related remuneration granted in the financial year 2018 with a long-term incentive effect (2017: €10.2 million). (See table B.57)

B.57 Board of Management remuneration in 2018

Base salary Short and medium-term variable
remuneration (annual bonus)
Long-term variable remuneration (PPSP) Total
      Short-term Medium-term Number Value when granted
(2018: at share price €70.13)
(2017: at share price €67.49)
 
In thousands of euros
               
Dr. Dieter Zetsche 2018 2,048 640 640 37,915 2,659 5,987
  2017 2,008 1,978 1,978 39,315 2,653 8,617
Dr. Wolfgang Bernhard 1 2018
  2017 92 90 90 272
Martin Daum 2 2018 832 260 260 14,896 1,045 2,397
  2017 677 667 667 15,446 1,043 3,054
Renata Jungo Brüngger 2018 832 260 260 14,896 1,045 2,397
  2017 812 800 800 15,446 1,043 3,455
Ola Källenius 2018 832 260 260 14,896 1,045 2,397
  2017 812 800 800 15,446 1,043 3,455
Wilfried Porth 2018 832 260 260 15,573 1,092 2,444
  2017 812 800 800 16,148 1,090 3,502
Britta Seeger 2018 832 260 260 14,896 1,045 2,397
  2017 812 800 800 15,446 1,043 3,455
Hubertus Troska 2018 832 260 260 14,896 1,045 2,397
  2017 812 800 800 15,446 1,043 3,455
Bodo Uebber 2018 967 302 302 17,807 1,249 2,820
  2017 947 932 932 18,464 1,246 4,057
               
Total 2018 8,007 2,502 2,502 145,775 10,225 23,236
  2017 7,784 7,667 7,667 151,157 10,204 33,322

1 2017: Board of Management remuneration paid until Feb. 10, 2017

2 2017: Board of Management remuneration paid from March 1, 2017

The granting of non-cash benefits in kind, primarily the reimbursement of expenses for security precautions and the provision of company cars, resulted in taxable benefits for the members of the Board of Management in 2018 as shown in table B.58.

B.58 Taxable non-cash benefits and other fringe benefits

  2018 2017
In thousands of euros    
     
Dr. Dieter Zetsche 195 167
Dr. Wolfgang Bernhard 1 9
Martin Daum 2 121 235
Renata Jungo Brüngger 93 108
Ola Källenius 3 161 95
Wilfried Porth 88 146
Britta Seeger 164 366
Hubertus Troska 4 494 470
Bodo Uebber 164 107
     
Total 1,480 1,703

1 2017: Board of Management remuneration paid until Feb. 10, 2017

2 2017: Board of Management remuneration paid from March 1, 2017

3 Including an anniversary bonus of €69,456.50

4 For the fulfillment of disclosure obligations pursuant to Section 285 No. 9a of the German Commercial Code (HGB), this amount is reduced by €182,254 for the financial year 2018 (2017: €197,508). The corresponding fringe benefits were granted and borne by a subsidiary and are thus not included in the remuneration to be disclosed in the annual financial statements of the parent company, Daimler AG.

Zurück
Commitments upon termination of service
Further development of the remuneration system effective as of January 1, 2019