(46) Executive Board and Supervisory Board compensation
The compensation of the Executive Board of Merck KGaA, Darmstadt, Germany, is recognized by the general partner, E. Merck KG, Darmstadt, Germany, which is not included in these consolidated financial statements. It was composed as follows:
€ million |
|
2023 |
|
2022 |
|---|---|---|---|---|
Fixed compensation |
|
6.3 |
|
6.3 |
Variable compensation |
|
18.5 |
|
17.7 |
Other compensation |
|
0.6 |
|
0.4 |
Additional benefits |
|
0.2 |
|
0.2 |
Short-term benefits |
|
25.6 |
|
24.6 |
Post-employment benefits |
|
2.6 |
|
2.4 |
Other long-term benefits |
|
0.7 |
|
0.0 |
Termination benefits |
|
0.0 |
|
0.0 |
Share-based payments |
|
3.8 |
|
5.8 |
Total compensation pursuant to IAS 24.17 |
|
32.7 |
|
32.7 |
The total compensation granted to members of the Executive Board as referred to by section 314 (1) no. 6 a) HGB amounted to € 30.1 million in fiscal 2023 (2022: € 30.4 million). In addition to the short-term benefits shown in the table above, this also includes compensation under the standalone long-term incentive plan for the Executive Board, the structure of which is essentially as described in Note (33) “Provisions for employee benefits”, and other long-term benefits. On the basis of the long-term incentive plan, 57,164 virtual shares, also referred to as Share Units of Merck KGaA, Darmstadt, Germany (MSU), were made potentially available in fiscal 2023 (2022: 43,436 MSU).
Payments to former members of the Executive Board and their surviving dependents in accordance with section 314 (1) no. 6 b) HGB were made as pension payments, as profit sharing, under the long-term incentive plan and waiting allowance for a post-contractual non-competition clause. These payments amounted to € 14.4 million in fiscal 2023 (2022: € 21.7 million). Provisions for defined benefit pension commitments carried by E. Merck KG, Darmstadt, Germany, amounted to € 123.8 million as of December 31, 2023 (December 31, 2022: € 123.1 million).
The compensation of the Supervisory Board in accordance with section 314 (1) no. 6 a) HGB and IAS 24.17 was composed as follows:
€ thousand |
|
2023 |
|
2022 |
|---|---|---|---|---|
Fixed portion |
|
808 |
|
815 |
Meeting attendance fees |
|
58 |
|
48 |
Committee membership compensation |
|
95 |
|
105 |
Total compensation granted in the fiscal year |
|
961 |
|
968 |
As in the previous year, no compensation was paid to former members of the Supervisory Board in fiscal 2023.
As in the previous year, the members of the Executive Board and the Supervisory Board did not receive any advances or loans in fiscal 2023 from companies included in the consolidated financial statements. As in the previous year, no contingent liabilities were entered into for the benefit of these persons in fiscal 2023.
Further individualized information and disclosures, as well as a presentation of the compensation system for the members of the Executive Board and the Supervisory Board, can be found in the compensation report.