3
Remuneration Report (continued)
ad (4) - 2016-2018 Long-term incentive: value of performance shares vesting
ad (5) - Matching entitlements: number of matching entitlements vesting
ad (6) - Matching entitlements: value of matching entitlements vesting
ad (7) - Pension cost
O Q,
Heineken N.V. Annual Report 2018 58
Report of the Executive Board
Report of the Supervisory Board
Financial Statements
Sustainability Review
Other Information
Grant date
No. of shares
conditionally
granted at
target level1
Value of shares
conditionally
granted as of
the grant date
in
Vesting date2
No. of shares
vesting on the vesting
date3 (before-tax)
No. of shares
vesting on the vesting
date4 (after-tax)
End of
blocking period
Value of unvested
or blocked shares
as of 31.12.20185
in
Van Boxmeer
2018
21,570
1,771,760
02.2021
t.b.d.
t.b.d.
13.02.2023
847,270
2017
25,260
1,910,414
02.2020
t.b.d.
t.b.d.
16.02.2022
992,252
2016
22,852
1,665,225
14.02.2019
41,820
21,279
11.02.2021
1,642,739
2015
29,263
1,942,771
13.02.2018
47,699
24,175
12.02.2020
1,866,310
2014
35,147
1,662,805
16.02.2017
61,508
31,143
13.02.2019
2,404,240
Debroux
2018
10,569
868,138
02.2021
t.b.d.
t.b.d.
13.02.2023
539,860
2017
12,630
955,207
02.2020
t.b.d.
t.b.d.
16.02.2022
645,160
2016
11,426
832,613
14.02.2019
20,910
13,836
11.02.2021
1,068,139
2015
11,857
787,186
13.02.2018
19,327
12,762
24.04.2020
985,226
1 Determined according to plan rules, using the closing share price of 31 December of the year preceding the grant date.
2 The vesting date is shortly after the publication of the financial statements after completion of the performance period.
3 Vested shares are disclosed in before-tax terms (i.e. before deduction of withholding tax due).
4 Vested shares are disclosed in after-tax terms (i.e. after deduction of withholding tax due).
5 The value for the grants in 2014, 2015 and 2016 is based on the actual number of shares vesting on the vesting date after-tax withholding, i.e. after applying the relevant income tax rate, whereas the value for the grants in 2017 and 2018 is based on the number of performance shares conditionally granted at target level
(since the number of performance shares vesting is yet unknown) after applying the currently prevailing income tax rate. The share price as of 31 December 2018 is €77.20.
The value of performance shares vesting is based on the share price as of 31 December 2018 of €77.20.
These entries refer to the number of matching share entitlements that vested after year-end 2018, as a result of the investment in shares of part of the STI payout for performance year 2013, and holding on to these
investment shares until year-end 2018. For the CEO this number of matching shares is the result of a 50% investment of this STI payout in investment shares at the time. For the CFO there is no vesting from this plan yet,
given her later appointment to the Executive Board on 23 April 2015.
The value of matching share entitlements vesting is based on the share price as of 31 December 2018 of €77.20.
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.
