Notes to the Consolidated Financial Statements (continued)
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O O Qs
Introduction Report of the Executive Board Report of the Supervisory Board
As at 31 December 2019, Mr. J.F.M.L. van Boxmeer held 214,087 Company shares and
Mrs. L.M. Debroux held 45,318 Company shares (2018: Mr. J.F.M.L. van Boxmeer 259,149
and Mrs. L.M. Debroux 28,159).
2019
2018
J.F.M.L. van
L.M.
J.F.M.L. van
L.M.
In thousands of
Boxmeer
Debroux
Total
Boxmeer
Debroux
Total
Fixed salary
1,250
850
2,100
1,250
735
1,985
Short-term incentive
2,223
1,080
3,303
2,730
1,147
3,877
Matching share entitlement
505
245
750
610
256
866
Long-term incentive
2,323
1,201
3,524
2,732
1,360
4,092
Pension contributions
762
167
929
873
145
1,018
Other emoluments
49
183
232
49
162
211
Total
7,112
3,726
10,838
8,244
3,805
12,049
The matching share entitlements for each year are based on the performance in that year. The Executive
Board members receive 25% of their STI pay in (investment) shares. In addition they have the
opportunity to indicate before year-end whether they wish to receive up to another 25% of their STI in
(investment) shares. All (investment) shares are restricted for sale for five calendar years, after which they
are matched 1:1 by (matching) shares. For 2019 the Executive Board members did not elect to receive
additional (investment) shares, hence the 'Matching share entitlement' in the table above is based on a
25% investment. In 2018 the investment was 25% for both Executive Board members as well. From an
accounting perspective the corresponding matching shares vest immediately and as such a fair value of
€0.8 million was recognised in the 2019 income statement. The matching share entitlements are not
dividend-bearing during the five calendar year holding period of the investment shares. Therefore, the fair
value of the matching share entitlements has been adjusted for missed expected dividends by applying
a discount based on the dividend policy and vesting period.
Financial Statements
Sustainability Review
Heineken N.V. Annual Report 2019
Other Information
Supervisory Board
The individual members of the Supervisory Board received the following remuneration:
In thousands of
20195
2018
J.M. Huët
195
86
J.A. Fernandez Carbajal
153
109
M. Das
133
85
M.R. de Carvalho
141
96
A.M. Fentener van Vlissingen1
43
V.C.O.B.J. Navarre
110
74
J.G. Astaburuaga Sanjinés
133
104
P. Mars-Wright
151
103
M. Helmes2
131
62
R.L. Ripley4
97
I.H. Arnold4
100
G.J. Wijers3
103
163
Y. Dervisoglu3
53
70
1,500
995
1 Stepped down as at 19 April 2018.
2 Appointed as at 19 April 2018.
3 Stepped down as at 25 April 2019.
4 Appointed as at 25 April 2019.
5 Supervisory Board new management fees were approved by the 2019 AGM.
Mr. Michel de Carvalho held 100,008 shares of Heineken N.V. as at 31 December 2019 (2018: 100,008
shares). As at 31 December 2019 and 2018, the Supervisory Board members did not hold any of the
Company's bonds or option rights. Mr. Michel de Carvalho held 100,008 shares of Heineken Holding N.V.
as at 31 December 2019 (2018: 100,008 shares).
Heineken Holding N.V.
In 2019, an amount of €1,146,413 (2018: €1,393,537) was paid to Heineken Holding N.V. for management
services for HEINEKEN.
This payment is based on an agreement of 1977 as amended in 2001, providing that Heineken NV
reimburses Heineken Holding N.V. for its costs.
