Board of Management remuneration in financial year 2019

Board of Management remuneration in 2019 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 2019,
  • the half of the annual bonus for 2019 payable in 2020 and measured as of the end of the reporting period,
  • the half of the medium-term share-based component of the annual bonus for 2019 payable in 2021 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 2019, and
  • the taxable non-cash benefits in 2019.

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.62 and B.63.

B.62 Annual bonus board

 

Daimler AR2019 B.63 PPSP 2015

 

The total remuneration of the Board of Management for the financial year 2019 amounts to €24.2 million (2018: €24.7 million). Of that total, €8.9 million was fixed, that is, non-performance-related remuneration (2018: €9.5 million), €2.0 million (2018: €5.0 million) was short-term and medium-term variable performance-related remuneration (annual bonus with deferral), and €13.3 million was variable performance-related remuneration granted in the financial year 2019 with a long-term incentive effect (2018: €10.2 million). (See table B.64)

B.64 Board of Management remuneration in 2019

    Base salary Short and medium-term variable remuneration (annual bonus) Long-term variable
remuneration (PPSP)
Total
Short-term Medium-term Number Value when granted
(2019: at share price €50.00)
(2018: at share price €70.13)
In thousands of euros
               
Ola Källenius1 2019 1,340 168 168 36,982 1,849 3,525
Martin Daum 2019 832 104 104 22,169 1,108 2,148
Renata Jungo Brüngger 2019 832 104 104 22,169 1,108 2,148
Wilfried Porth 2019 832 104 104 23,177 1,159 2,199
Markus Schäfer2 2019 508 64 64 17,735 887 1,523
Britta Seeger 2019 832 104 104 22,169 1,108 2,148
Hubertus Troska 2019 832 104 104 22,169 1,108 2,148
Harald Wilhelm3 2019 638 80 80 16,627 831 1,629
Bodo Uebber4 2019 379 47 47 26,502 1,325 1,798
Dr. Dieter Zetsche4 2019 804 101 101 56,429 2,822 3,828
               
  2019 7,829 980 980 266,128 13,305 23,094
1 Board of Management remuneration paid as a member until May 21, 2019; as the Chairman from May 22, 2019. 2 Board of Management remuneration paid from May 22, 2019. 3 Board of Management remuneration paid from April 1, 2019. 4 Board of Management remuneration paid until May 22, 2019.

The granting of non-cash benefits in kind, primarily expenses for security precautions and the provision of company cars, resulted in taxable benefits for the members of the Board of Management in 2019 as shown in table B.65.

B.65 Taxable non-cash benefits and other fringe benefits

  2019 2018
In thousands of euros    
     
Ola Källenius1 90 161
Martin Daum 120 121
Renata Jungo Brüngger 95 93
Wilfried Porth 87 88
Markus Schäfer2 57
Britta Seeger 94 164
Hubertus Troska3 394 494
Harald Wilhelm4 62
Bodo Uebber5 44 164
Dr. Dieter Zetsche5 65 195
     
Total 1,108 1,480
1 Board of Management remuneration paid as a member until May 21, 2019; as the Chairman from May 22, 2019 (2018: including an anniversary bonus of €69,456.50). 2 Board of Management remuneration paid from May 22, 2019. 3 For the fulfillment of disclosure obligations pursuant to Section 285 No. 9a of the German Commercial Code (HGB), this amount is reduced by €149,366 for the financial year 2019 (2018: €182,254). 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. 4 Board of Management remuneration paid from April 1, 2019. 5 Board of Management remuneration paid until May 22, 2019.

Details of Board of Management remuneration in 2019 pursuant to the requirements of the German Corporate Governance Code

The following tables show for each individual member of the Board of Management on the one hand the benefits granted for the financial year and on the other hand the payments made in or for the reporting year and the retirement pension expense in or for the year under review in accordance with the recommendations of Clause 4.2.5 paragraph 3 of the German Corporate Governance Code as amended on February 7, 2017.

The total of “benefits granted” for financial year 2018 is calculated from

  • the base salary in 2018,
  • the taxable non-cash benefits and other fringe benefits in 2018,
  • the half of the annual bonus paid in 2019 for 2018 at the value for target achievement of 100 %,
  • the half of the medium-term annual bonus payable in 2020 for 2018 at the value for target achievement of 100 % (deferral),
  • the value of the long-term share-based remuneration (PPSP) at the time when granted in 2018 (payable in 2022), and
  • the retirement pension expense in 2018 (service costs in 2018).

The total of “benefits granted” for financial year 2019 is calculated from

  • the base salary in 2019,
  • the taxable non-cash benefits and other fringe benefits in 2019,
  • the half of the annual bonus payable in 2020 for 2019 at the value for target achievement of 100 %,
  • the half of the medium-term annual bonus payable in 2021 for 2019 at the value for target achievement of 100 % (deferral),
  • the value of the long-term share-based remuneration (PPSP) at the time when granted in 2019 (payable in 2023), and
  • the retirement pension expense in 2019 (service costs in 2019).

The total of “payments made” for financial year 2018 is calculated from

  • the base salary in 2018,
  • the taxable non-cash benefits and other fringe benefits in 2018,
  • the half of the annual bonus paid in 2019 for 2018 at the value as of the end of the reporting period in financial year 2018,
  • the half of the medium-term annual bonus paid in 2018 for 2016 (deferral),
  • the value of the long-term share-based remuneration (PPSP 2014) paid in 2018,
  • the dividend equivalent of the current PPSP (2015, 2016, 2017 and 2018) paid in 2018, and
  • the retirement pension expense in 2018 (service costs in 2018).

The caps possible to ensure the total maximum amount shown in the table of benefits granted for financial year 2018 are implemented with the payout of PPSP 2018, which constitutes the last payment to be made of the components of remuneration granted in financial year 2018. For financial year 2018, therefore, the possible cap would take place in 2022, the year that PPSP 2018 is paid out.

The total of “payments made” for financial year 2019 is calculated from

  • the base salary in 2019,
  • the taxable non-cash benefits and other fringe benefits in 2019,
  • the half of the annual bonus payable in 2020 for 2019 at the value as of the end of the reporting period,
  • the half of the medium-term annual bonus paid in 2019 for 2017 (deferral),
  • the value of the long-term share-based remuneration (PPSP 2015) paid in 2019,
  • the dividend equivalent of the current PPSP (2016, 2017, 2018 and 2019) paid in 2019, and
  • the retirement pension expense in 2019 (service costs in 2019).

The caps possible to ensure the total maximum amount shown in the table of benefits granted for reporting year 2019 are implemented with the payout of PPSP 2019, which constitutes the last payment to be made of the components of remuneration granted in financial year 2019. For financial year 2019, therefore, the possible cap would take place in 2023, the year that PPSP 2019 is paid out.

B.66 Benefits granted

  Ola Källenius2 Martin Daum
  Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
  2018 2019 min. max. 2018 2019 min. max.
In thousands of euros                
                 
Base salary 832 1,340 1,340 1,340 832 832 832 832
Taxable non-cash benefits
and other fringe benefits
161 90 90 90 121 120 120 120
Total 993 1,430 1,430 1,430 953 952 952 952
Annual variable remuneration
(50 % of annual bonus, short-term)
416 670 0 1,575 416 416 0 978
Deferral (50 % of annual bonus,
medium-term)
416 670 0 1,575 416 416 0 978
Long-term variable remuneration
(plan period of 4 years)
1,045 1,849 0 4,588 1,045 1,108 0 2,750
Total 1,877 3,189 0 7,738 1,877 1,940 0 4,706
Retirement pension expense (service costs) 257 261 261 261 244 250 250 250
                 
Total remuneration 3,127 4,880 1,691 9,429 3,074 3,142 1,202 5,908
Total limit 1 for components of remuneration
granted in the reporting year excluding: – Taxable non-cash benefits and other fringe benefits – Retirement pension expense (service costs)
5,252     7,878 5,252     5,252

1 Total limit  1.7 times for Mr. Källenius as of May 22, 2019 (1.5 times for Dr. Zetsche)/1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).
2 Board of Management remuneration paid as a member until May 21, 2019; as the Chairman from May 22, 2019.

Benefits granted

  Renata Jungo Brüngger Wilfried Porth
  Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
  2018 2019 min. max. 2018 2019 min. max.
In thousands of euros                
                 
Base salary 832 832 832 832 832 832 832 832
Taxable non-cash benefits
and other fringe benefits
93 95 95 95 88 87 87 87
Total 925 927 927 927 920 919 919 919
Annual variable remuneration
(50 % of annual bonus, short-term)
416 416 0 978 416 416 0 978
Deferral (50 % of annual bonus,
medium-term)
416 416 0 978 416 416 0 978
Long-term variable remuneration
(plan period of 4 years)
1,045 1,108 0 2,750 1,092 1,159 0 2,875
Total 1,877 1,940 0 4,706 1,924 1,991 0 4,831
Retirement pension expense (service costs) 251 254 254 254 292 0 0 0
                 
Total remuneration 3,053 3,121 1,181 5,887 3,136 2,910 919 5,750
Total limit 1 for components of remuneration
granted in the reporting year excluding: – Taxable non-cash benefits and other fringe benefits – Retirement pension expense (service costs)
5,252     5,252 5,347     5,347

1 Total limit  1.7 times for Mr. Källenius as of May 22, 2019 (1.5 times for Dr. Zetsche)/1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

Benefits granted

  Markus Schäfer Britta Seeger
  Jan. 1 – Dec. 31 May 22 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
  2018 2019 min. max. 2018 2019 min. max.
In thousands of euros                
                 
Base salary 508 508 508 832 832 832 832
Taxable non-cash benefits
and other fringe benefits
57 57 57 164 94 94 94
Total 565 565 565 996 926 926 926
Annual variable remuneration
(50 % of annual bonus, short-term)
254 0 597 416 416 0 978
Deferral (50 % of annual bonus,
medium-term)
254 0 597 416 416 0 978
Long-term variable remuneration
(plan period of 4 years)
887 0 2,200 1,045 1,108 0 2,750
Total 1,395 0 3,394 1,877 1,940 0 4,706
Retirement pension expense (service costs) 155 155 155 248 254 254 254
                 
Total remuneration 2,115 720 4,114 3,121 3,120 1,180 5,886
Total limit 1 for components of remuneration
granted in the reporting year excluding: – Taxable non-cash benefits and other fringe benefits – Retirement pension expense (service costs)
    3,602 5,252     5,252

1 Total limit  1.7 times for Mr. Källenius as of May 22, 2019 (1.5 times for Dr. Zetsche)/1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

Benefits granted

  Hubertus Troska Harald Wilhelm
  Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 April 1 – Dec. 31
  2018 2019 min. max. 2018 2019 min. max.
In thousands of euros                
                 
Base salary 832 832 832 832 638 638 638
Taxable non-cash benefits
and other fringe benefits
494 394 394 394 62 62 62
Total 1,326 1,226 1,226 1,226 700 700 700
Annual variable remuneration
(50 % of annual bonus, short-term)
416 416 0 978 319 0 750
Deferral (50 % of annual bonus,
medium-term)
416 416 0 978 319 0 750
Long-term variable remuneration
(plan period of 4 years)
1,045 1,108 0 2,750 831 0 2,063
Total 1,877 1,940 0 4,706 1,469 0 3,563
Retirement pension expense (service costs) 244 250 250 250 218 218 218
                 
Total remuneration 3,447 3,416 1,476 6,182 2,387 918 4,481
Total limit 1 for components of remuneration
granted in the reporting year excluding: – Taxable non-cash benefits and other fringe benefits – Retirement pension expense (service costs)
5,252     5,252       3,990

1 Total limit  1.7 times for Mr. Källenius as of May 22, 2019 (1.5 times for Dr. Zetsche)/1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

Benefits granted

  Bodo Uebber Dr. Dieter Zetsche
  Jan. 1 – Dec. 31 Jan. 1 – May 22 Jan. 1 – Dec. 31 Jan. 1 – May 22
  2018 2019 min. max. 2018 2019 min. max.
In thousands of euros                
                 
Base salary 966 379 379 379 2,048 804 804 804
Taxable non-cash benefits
and other fringe benefits
164 44 44 44 195 65 65 65
Total 1,130 423 423 423 2,243 869 869 869
Annual variable remuneration
(50 % of annual bonus, short-term)
483 190 0 447 1,024 402 0 945
Deferral (50 % of annual bonus,
medium-term)
483 190 0 447 1,024 402 0 945
Long-term variable remuneration
(plan period of 4 years)
1,249 1,325 0 3,288 2,659 2,822 0 7,000
Total 2,215 1,705 0 4,182 4,707 3,626 0 8,890
Retirement pension expense (service costs) 886 362 362 362 0 0 0 0
                 
Total remuneration 4,231 2,490 785 4,967 6,950 4,495 869 9,759
Total limit 1 for components of remuneration
granted in the reporting year excluding: – Taxable non-cash benefits and other fringe benefits – Retirement pension expense (service costs)
6,171     3,940 10,344     6,612

1 Total limit  1.7 times for Mr. Källenius as of May 22, 2019 (1.5 times for Dr. Zetsche)/1.9 times target remuneration (base salary, target annual bonus, value when granted of PPSP, excluding fringe benefits and retirement pension commitments).

B.67 Payments made

  Ola Källenius1
Chairman of the Board of Management,
Chairman of the Board of Management of Mercedes-Benz AG
Martin Daum2
Chairman of the Board of Management
of Daimler Truck AG
  Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
  2018 2019 2018 2019
In thousands of euros        
         
Base salary 832 1,340 832 832
Taxable non-cash benefits and other fringe benefits 161 90 121 120
Total 993 1,430 953 952
Annual variable remuneration
(50 % of annual bonus, short-term)
260 168 260 104
Deferral (50 % of annual bonus, medium-term) 525 728 607
Long-term variable remuneration        
Payment of PPSP 2014 402 510
Payment of PPSP 2015 751 277
Dividend equivalent PPSP 2015 55 20
Dividend equivalent PPSP 2016 60 40 22 16
Dividend equivalent PPSP 2017 56 50 56 50
Dividend equivalent PPSP 2018 54 48 54 48
Dividend equivalent PPSP 2019 120 72
Total 1,412 1,905 922 1,174
Retirement pension expense (service costs) 257 261 244 250
Total remuneration3 2,662 3,596 2,119 2,376
1 Payments as a Board of Management member made up to May 21, 2019; as the Chairman from May 22, 2019.
2 Payments from the long-term variable remuneration also include amounts granted before the Board of Management membership.
3 Amount actually paid during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 2,784 3,337 2,161 2,162

Payments made

  Renata Jungo Brüngger1
Integrity & Legal Affairs
Wilfried Porth
HR and Labor Relations Director &
Mercedes-Benz Vans
  Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
  2018 2019 2018 2019
In thousands of euros        
         
Base salary 832 832 832 832
Taxable non-cash benefits and other fringe benefits 93 95 88 87
Total 925 927 920 919
Annual variable remuneration
(50 % of annual bonus, short-term)
260 104 260 104
Deferral (50 % of annual bonus, medium-term) 525 728 525 728
Long-term variable remuneration        
Payment of PPSP 2014 208 1,448
Payment of PPSP 2015 120 785
Dividend equivalent PPSP 2015 9 58
Dividend equivalent PPSP 2016 60 40 62 42
Dividend equivalent PPSP 2017 56 50 59 52
Dividend equivalent PPSP 2018 54 48 57 51
Dividend equivalent PPSP 2019 72 75
Total 1,172 1,162 2,469 1,837
Retirement pension expense (service costs) 251 254 292 -
Total remuneration2 2,348 2,343 3,681 2,756
1 Payments from the long-term variable remuneration also include amounts granted before the Board of Management membership.
2 Amount actually paid out during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 2,544 2,150 3,841 2,825

Payments made

  Markus Schäfer1
Group Research &
Mercedes-Benz Cars Development
Britta Seeger1
Mercedes-Benz Cars Marketing &
Sales
 
  Jan. 1 – Dec. 31 May 22 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31
  2018 2019 2018 2019
In thousands of euros        
         
Base salary 508 832 832
Taxable non-cash benefits and other fringe benefits 57 164 94
Total 565 996 926
Annual variable remuneration
(50 % of annual bonus, short-term)
64 260 104
Deferral (50 % of annual bonus, medium-term) 728
Long-term variable remuneration        
Payment of PPSP 2014 56
Payment of PPSP 2015 37
Dividend equivalent PPSP 2015 3
Dividend equivalent PPSP 2016 13 6 4
Dividend equivalent PPSP 2017 17 56 50
Dividend equivalent PPSP 2018 19 54 48
Dividend equivalent PPSP 2019 58 72
Total 171 435 1,043
Retirement pension expense (service costs) 155 248 254
Total remuneration2 891 1,679 2,223
1 Payments from the long-term variable remuneration also include amounts granted before the Board of Management membership.
2 Amount actually paid out during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 615 1,807 2,031

Payments made

  Hubertus Troska
Greater China
Harald Wilhelm
Finance & Controlling,
Daimler Mobility
  Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 Jan. 1 – Dec. 31 April 1 – Dec. 31
  2018 2019 2018 2019
In thousands of euros        
         
Base salary 832 832 638
Taxable non-cash benefits and other fringe benefits 494 394 62
Total 1,326 1,226 700
Annual variable remuneration
(50 % of annual bonus, short-term)
260 104 80
Deferral (50 % of annual bonus, medium-term) 525 728
Long-term variable remuneration        
Payment of PPSP 2014 1,385
Payment of PPSP 2015 751
Dividend equivalent PPSP 2015 55
Dividend equivalent PPSP 2016 60 40
Dividend equivalent PPSP 2017 56 50
Dividend equivalent PPSP 2018 54 48
Dividend equivalent PPSP 2019 72 54
Total 2,395 1,793 134
Retirement pension expense (service costs) 244 250 218
Total remuneration1 3,965 3,269 1,052
1 Amount actually paid out during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 3,767 2,781 692

Payments made

  Bodo Uebber
Finance & Controlling,
Daimler Financial Services
Dr. Dieter Zetsche
Chairman of the Board of Management,
Head of Mercedes-Benz Cars
  Jan. 1 – Dec. 31 Jan. 1 – May 22 Jan. 1 – Dec. 31 Jan. 1 – May 22
  2018 2019 2018 2019
In thousands of euros        
         
Base salary 967 379 2,048 804
Taxable non-cash benefits and other fringe benefits 164 44 195 65
Total 1,131 423 2,243 869
Annual variable remuneration
(50 % of annual bonus, short-term)
302 47 640 101
Deferral (50 % of annual bonus, medium-term) 624 848 1,349 1,780
Long-term variable remuneration        
Payment of PPSP 2014 1,656   3,463  
Payment of PPSP 2015 898 1,877
Dividend equivalent PPSP 2015 66 138
Dividend equivalent PPSP 2016 71 149
Dividend equivalent PPSP 2017 67 144
Dividend equivalent PPSP 2018 65 138
Dividend equivalent PPSP 2019
Total 2,851 1,793 6,021 3,758
Retirement pension expense (service costs) 886 362
Total remuneration1 4,868 2,578 8,264 4,627
1 Amount actually paid out during the financial year: (The difference pertains to the annual variable remuneration paid at the beginning of the following year compared to the non-cash benefits in kind that were not paid out and the retirement pension expense). 4,448 2,679 9,407 5,635
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Commitments upon termination of service
Principles of Board of Management remuneration