Notes to the consolidated financial statements continued
35. Related parties
Identification of related parties
HEINEKEN has a related party relationship with its associates and joint ventures (refer to note 16), Eleineken Holding N.V, Heineken pension funds
(refer to note 28), Fomento Económico Mexicano, S.A.B. de C.V. (FEMSA), employees (refer to note 25) and with its key management personnel
(Executive Board and the Supervisory Board). For our shareholder structure reference is made to the section 'Shareholder Information'.
Key management remuneration
2012
Executive Board
6.8
7.5
Supervisory Board
0.9
0.9
Total
7.7
8.4
Executive Board
The remuneration of the members of the Executive Board comprises of a fixed component and a variable component. The variable component is made
up of a Short-Term Variable pay and a Long-Term Variable award. The Short-Term Variable pay is based on financial and operational measures and on
individual leadership measures as set by the Supervisory Board. It is partly paid out in shares that are blocked for a period of five calendar years. After the
five calendar years HEINEKEN will match the blocked shares 1:1 which we refer to as the matching share entitlement. For the Long-Term Variable award
see note 29. The separate remuneration report is stated on page 60-66.
As at 31 December 2012,1.F.M.L. van Boxmeer held 48,641 Company shares and D.R. Hooft Graafland 25,109. (2011: T.F.M.L. van Boxmeer 25,369 and
D.R. Hooft Graafland 14,818 shares). D.R. Hooft Graafland held 3,052 shares of Heineken Holding N.V. as at 31 December 2012 (20113,052 shares).
Executive Board
Short-Term Matching Share Long-Term
Fixed Salary Variable Pay Entitlement** Variable award* Pension Plan Total
In thousands of EUR
2012
2012
2012
2012
2012
2012
I.F.M.L. van Boxmeer
1,050
1,050 1,361
1,764
681
912
669
496
590
4,500
4,955
D.R. Hooft Graafland
650
602
780
301
982
477
355
318
814
399
2,348
6,848
2,574
1,700
1,700 1,963
2,544
1,272 1,389
1,024
989
7,529
*The remuneration reported as part of LTV is based on IFRS accounting policies and does not reflect the value of vested performance shares.
**The matching share entitlement for 2011 is based on 2011 performance. The matching share entitlement for 2012 is based on 2012 performance. The matching share entitlement vests
immediately and as such EUR1.0 million was recognised in the 2012 income statement.
The Dutch government has introduced a one-off additional tax levy of 16 per cent over 2012 taxable income, as a liability for the employer. This tax levy
related to remuneration over 2012 for the Executive Board is EUR 754 (in thousands) and is not included in the table above.
138
Heineken N.V. Annual Report 2012
