Remuneration Report (continued)
Report of the
Report of the
Annual Report 2016
ad (7) - Pension cost
The pension costs involve the employer contributions paid in the Capital Creation Plan as well as the employer contributions to the risk insurances
for death and disability.
ad (8) - Extraordinary share grants: number of shares vesting
Mrs. Debroux received an extraordinary grant of 2,000 share entitlements upon her appointment as member of the Executive Board in April 2015,
as compensation for forfeited variable remuneration by her previous employer; 50% of this grant vested immediately, which was included in the
remuneration table last year, and the other 50% vested in 2016, which is thus included in the remuneration table this year.
The table below provides an overview of the Extraordinary share awards and the Retention share award that have vested but are still blocked
as of 31 December 2016; there are no such awards to members of the Executive Board that are still unvested. The Retention share award
to Mr. Van Boxmeer vested in April 2015; a further three-year holding period applies to this share award. The Extraordinary share award to
Mr. Van Boxmeer vested at grant in 2013; to this share award a five-year holding period applies as from grant. The Extraordinary share awards
to Mrs. Debroux are both vested now, yet blocked for five years from the moment of grant, i.e. until 24 April 2020.
Value of shares Value of unvested
conditionally No. of shares or blocked shares
No. of shares granted as of the vesting on the End of as of 31.12.20163
Award Grant date granted1 grant date in EUR Vesting date vesting date2 blocking period in EUR
1 The 'Number of shares granted' refers to the grant in gross terms (i.e. before tax withholding).
2 As the table reveals, income tax is withheld from the Extraordinary share awards themselves; the Retention share award to Mr. Van Boxmeer has vested 'gross',
i.e. withholding tax has been withheld and paid from other sources than the share award itself.
3 The value of the share awards is based on the 'Number of shares vesting on the vesting date'.
ad (9) - Extraordinary share grants: value of shares vesting
The value of the Extraordinary Share Award vesting for Mrs. Debroux is based on the closing share price of EUR 81.84 of 22 April 2016, i.e. the final
closing share price prior to the vesting date of 24 April 2016.
ad (10) - Other emoluments
The amount for Mr. Van Boxmeer involves his car benefit-in-kind. The amount for Mrs. Debroux involves housing allowance (grossed-up), schooling
cost for her children, and car benefit-in-kind.