Gross remuneration of CEO
Gross remuneration of our CEO for financial year 2015
- Base salary (fixed): €456,297 (including €18,860 in the form of pension contributions).
- Variable remuneration (bonus): given the level of achievement of the criteria from the Senior Management Bonus Scheme to be entitled to a bonus (i.e. the corporate objectives for 2015), a bonus equal to 100% of the 2015 base salary was awarded over 2015, of which 50% was paid early January 2016, and the other 50% was deferred for 3 years. The value of the 50% deferred part of the bonus awarded over 2012 was established at the end of 2015 and resulted in a payment in early January 2016 of an amount of €400,757 (a multiple of 3.17 of the deferred bonus, as a result of the share price performance over the period 2012-2015 as per the provisions of the Senior Management Bonus Scheme). In addition, upon recommendation of the Nomination and Remuneration Committee, the Board resolved to award an exceptional special bonus given the success of the NASDAQ listing, amounting to €275,000, of which 50% was payable in June 2015, and the other 50% was deferred for 3 years.
- Pension: €47,386 (of which €18,860 are part of the fixed base salary).
- Other components of the remuneration: company car and payments for invalidity and healthcare cover, totaling €19,900.
- In its meeting of 1 December 2015 (in application of article 523 of the Belgian Companies Code and without the CEO being present) the Board of Directors resolved, upon recommendation of the Nomination and Remuneration Committee, to increase the CEO’s salary by 3.5% as from 2016. The principles applied for such increase were in line with the Remuneration Policy described above.