Chapters
Annual Report 2020

Long-term incentive plan (LTIP) awards

As part of the long-term incentive plan award (LTIP) 2015 in the Remuneration Policy 2019, the CEO has been awarded 35,537 performance-based conditional share awards. The CFO has been awarded 15,243 performance-based conditional share awards. The LTIP 2015 shares awards are subject to the performance conditions (total net revenue and earnings per share) as stated in the Remuneration Policy 2019.

The table below shows outstanding share-based awards for the Management Board. No share-based awards were settled in 2020:

Outstanding share-based awards

Award

Awards per
1 January, 2020

Granted in 2020

Settled in 2020

Awards per
31 December, 2020

Exercise price option awards

Fair value
at grant

Share price at vesting

Stephan Borchert (CEO)

LTIP 2018

performance based conditional share awards

56,481

-

-

56,481

-

20.80

-

LTIP 2018

share settled share appreciation rights

64,057

-

-

64,057

20.61

3.32

-

LTIP 2019

performance based conditional share awards

42,284

-

-

42,284

-

19.30

-

LTIP 2020

performance based conditional share awards

35,537

35,537

23.58

Willem Eelman (CFO)

LTIP 2019

performance based conditional share awards

18,137

-

-

18,137

-

19.30

-

LTIP 2020

performance based conditional share awards

-

15,243

-

15,243

-

23.58

-

Total

180,959

50,780

-

231,739

The table below shows key terms of the outstanding share-based awards:

Outstanding share-based awards

Award

Status per 31 December, 2020

Vesting year

Holding
period end

Performance conditions

LTIP 2018

performance based conditional share awards

Conditional

2021

2023

0-150% on Rev/EPS 2018-2020

LTIP 2018

share settled share appreciation rights

Unconditional

2023

-

No

LTIP 2019

performance based conditional share awards

Conditional

2022

2024

0-150% on Rev/EPS 2019-2021

LTIP 2020

performance based conditional share awards

Conditional

2023

2025

0-150% on Rev/EPS 2020-2022