22. Shares granted
As part of the Zehnder Group Management Share Plan (ZGMSP), the managers of operating units and members of Group management of Zehnder Group are given the opportunity to acquire registered shares A. The shares are issued at a discount to the persons entitled to receive them. The registered shares A issued also include the Board of Directors’ shares. Half of the fee that the members of the Board of Directors receive is made up of registered shares A.
In the case of the ZGMSP, the difference between the current value at the time of allocation and the issue price is recognised in personnel expenses.
Furthermore, Zehnder Group introduced a long-term, variable compensation element (long-term incentive or LTI). This is granted as part of a long-term investment plan in which rights to shares are awarded under certain conditions. The general contractual basis and exercise conditions are explained under item 4.3 Variable long-term compensation element (long-term incentive, LTI) in the Compensation Report.
The value of shares issued at the time of allocation is equal to the current value. The current value is determined as the closing rate on the day of allocation.
|
|
|
2023 |
2022 |
|
Shares for the Zehnder Group Management Share Plan |
|
|
|
|
Shares granted for the Zehnder Group Management Share Plan |
units |
44,916 |
19,486 |
|
Current value on the day of allocation |
CHF |
60.50 |
87.00 |
|
Personnel expenses for the Zehnder Group Management Share Plan |
CHF |
1,006,000 |
411,000 |
|
Shares for the compensation of the Board of Directors |
|
|
|
|
Shares granted for the compensation of the Board of Directors |
units |
9,902 |
5,543 |
|
Current value on the day of allocation |
CHF |
58.10 |
91.90 |
|
Personnel expenses for the compensation of the Board of Directors |
CHF |
575,000 |
509,000 |
|
Shares for the variable long-term compensation element for the Group Executive Committee |
|
|
|
|
Shares granted for the variable long-term compensation element for the Group Executive Committee (with 100% achievement of objectives) |
units |
14,186 |
7,899 |
|
Shares allocated for the variable long-term compensation element for the Group Executive Committee |
units |
16,350 |
16,931 |
|
Current value on the day of allocation |
CHF |
74.70 |
77.50 |
|
Personnel expenses for the variable long-term compensation element for the Group Executive Committee 1 |
CHF |
–43,000 |
858,000 |
|
Total personnel expenses for shares granted |
CHF |
1,538,000 |
1,778,000 |
1 Personnel expenses for the variable long-term compensation include the cost of the shares granted for the compensation plans launched in the reporting year and the result of the reassessment of the current plans. The net result of the two factors led to negative personnel expenses for the variable long-term compensation of the Group Executive Committee in 2023.