Compensation report

6. Share ownership information

6.1 Shareholdings of members of the Board of Directors

The tables in this section are audited by the external auditor.

The following tables show the equity of the individual members of the Board of Directors and persons closely linked to them.

 

 

31.03.2019

 

31.03.2018

 

 

Shares

 

Restricted Shares 1)

 

RSUs

 

Options

 

Shares

 

Restricted Shares 2)

 

Options

Robert F. Spoerry, Chairman

 

34,446

 

17,498

 

 

 

 

 

29,780

 

18,972

 

 

Beat Hess, Vice-Chairman

 

3,438

 

7,140

 

 

 

 

 

1,833

 

7,649

 

 

Lynn Dorsey Bleil, Member

 

 

 

3,961

 

 

 

 

 

 

 

2,865

 

 

Lukas Braunschweiler, Member 3)

 

19,862

 

1,096

 

7,152

 

165,577

 

n/a

 

n/a

 

n/a

Stacy Enxing Seng, Member

 

 

 

7,140

 

 

 

 

 

 

 

6,044

 

 

Michael Jacobi, Member

 

2,481

 

7,140

 

 

 

 

 

4,876

 

7,649

 

 

Ronald van der Vis, Member

 

 

 

7,140

 

 

 

 

 

2,355

 

7,649

 

 

Anssi Vanjoki, Member

 

5,481

 

7,140

 

 

 

 

 

3,876

 

7,649

 

2,558

Jinlong Wang, Member

 

1,605

 

7,140

 

 

 

 

 

 

 

7,649

 

 

Total (active members)

 

67,313

 

65,395

 

7,152

 

165,577

 

42,720

 

66,126

 

2,558

1) These shares are subject to a restriction period which varies from June 1, 2019 to June 1, 2024 depending on the grant date.

2) These shares are subject to a restriction period which varies from June 1, 2018 to June 1, 2023 depending on the grant date.

3) New member of the Board of Directors since June 2018.

  For further details see also Note 7.4 in the consolidated financial statements.

The shareholding requirements set by the share ownership guidelines are entirely met by all members of the Board of Directors.

The following table shows a detailed breakdown of the outstanding options of the members of the Board of Directors of the previous option plan for members of the Board of Directors which has been phased-out in the meantime.

 

 

31.3.2019

 

31.3.2018

 

 

Options EEAP 12 1)

 

Options EEAP 12 1)

Anssi Vanjoki

 

 

 

2,558

Total (active members)

 

 

2,558

  EEAP 2017 and 2018, no options or warrants were granted for members of the Board of Directors as of the applicable grant dates – 100 % restricted shares. The outstanding options granted to the former CEO, Lukas Braunschweiler, are not included in the option table above but summarized in the overall equity table.

   

1) Exercise price CHF 95.85, vesting period 1.2.2012 – 1.6.2016 whereas one tranche being vested each year, exercise period 1.6.2013 – 31.1.2019.

6.2 Shareholdings of members of the Management Board

The tables in this section are audited by the external auditor.

The following tables show the equity of individual members of the Management Board and persons closely linked to them.

 

 

31.03.2019

 

31.03.2018

 

 

Shares 1)

 

PSUs

 

RSUs

 

Options

 

Shares 1)

 

PSUs

 

RSUs

 

Options

Arnd Kaldowski 2)

 

6,599

 

6,406

 

 

 

119,444

 

6,599

 

4,109

 

 

 

86,543

Hartwig Grevener

 

6,991

 

2,834

 

3,280

 

36,603

 

5,209

 

1,854

 

4,431

 

61,680

Claudio Bartesaghi 3)

 

325

 

1,440

 

425

 

13,542 5)

 

1,032

 

872

 

718

 

8,661 5)

Claude Diversi

 

3,000

 

2,856

 

3,080

 

35,665

 

2,250

 

1,854

 

3,971

 

36,207

Hansjürg Emch

 

7,696

 

1,854

 

2,649

 

57,680

 

8,544

 

1,854

 

4,431

 

62,710

Christophe Fond

 

0

 

2,943

 

1,989

 

29,764

 

0

 

1,896

 

1,790

 

24,078

Martin Grieder

 

3,000

 

2,834

 

3,280

 

45,136

 

2,000

 

1,854

 

3,980

 

36,714

Hans Mehl

 

3,118

 

1,854

 

3,280

 

28,181

 

5,036

 

1,854

 

4,431

 

39,464

Andi Vonlanthen

 

16,943

 

2,856

 

3,280

 

70,294

 

15,161

 

1,854

 

4,431

 

66,231

Total (active members)

 

47,672

 

25,877

 

21,263

 

436,309

 

45,831

 

18,001

 

28,183

 

422,288

Lukas Braunschweiler 4)

 

 

 

 

 

 

 

 

 

17,061

 

 

 

9,953

 

191,152

Total (including former members)

 

47,672

 

25,877

 

21,263

 

436,309

 

62,892

 

18,001

 

38,136

 

613,440

1) Shares are dividend entitled with full voting rights.

2) Member of the Management Board since October 1, 2017.

3) Member of the Management Board since October 1, 2017.

4) Member of the Management Board until March 31, 2018.

5) includes SARs (SARs grant the right to participate in the appreciation of Sonova shares without issuance of shares).

  For further details see also Note 7.4 in the consolidated financial statements.

The shareholding requirements set by the share ownership guidelines are entirely met by all members of the Management Board.

The following table shows the shareholding requirements relative to the fixed base salary and the indicative actual shareholdings.

 

 

 

 

 

Base salary

 

Share requirements 1)

 

Actual shares 2)

 

Fulfillment of share ownership guidelines

 

Share ownership ratio to base salary

 

 

in CHF

 

in CHF

 

in CHF

 

in %

 

ratio

Arnd Kaldowski, CEO

 

900,000

 

1,000,000

 

1,292,744

 

129

 

1.4

Other members of the MB 3)

 

397,735

 

200,000

 

903,662

 

452

 

2.3

1) Share requirements to be achieved for the CEO as of December 31, 2017 and for all other members of the MB after 41 months.

2) Calculated with Sonova closing share price of March 29, 2019.

3) Average of other members of the MB with shareholding requirements.

  The calculation of fulfillment and the ratio to base salary of the share ownership shown above are included for illustration purposes only.

The following table shows a detailed breakdown of the outstanding options of the members of the Management Board.

31.03.2019

 

 

Options EEAP 19 1)

 

Options EEAP 18 2)

 

Options EEAP 17 3)

 

Options EEAP 16 4)

 

Options EEAP 15 5)

 

Options EEAP 14 6)

 

Options EEAP 13 7)

 

Total options

Arnd Kaldowski

 

32,901

 

86,543 8)

 

 

 

 

 

 

 

 

 

 

 

119,444

Hartwig Grevener

 

8,422

 

10,594

 

9,711

 

5,158

 

2,718

 

 

 

 

 

36,603

Claudio Bartesaghi

 

4,881

 

4,984

 

2,148 9)

 

1,529

 

 

 

 

 

 

 

13,542

Claude Diversi

 

8,614

 

10,594

 

9,381

 

5,158

 

1,918

 

 

 

 

 

35,665

Hansjürg Emch

 

 

 

10,594

 

12,948

 

10,315

 

10,869

 

4,687

 

8,267

 

57,680

Christophe Fond

 

8,996

 

10,835

 

9,933

 

 

 

 

 

 

 

 

 

29,764

Martin Grieder

 

8,422

 

10,594

 

12,948

 

7,737

 

5,435

 

 

 

 

 

45,136

Hans Mehl

 

 

 

10,594

 

9,711

 

5,158

 

2,718

 

 

 

 

 

28,181

Andi Vonlanthen

 

8,614

 

10,594

 

12,948

 

10,315

 

10,869

 

8,687

 

8,267

 

70,294

Total

 

80,850

 

165,926

 

79,728

 

45,370

 

34,527

 

13,374

 

16,534

 

436,309

1) Exercise price CHF 182.40, vesting period 1.2.2019–1.6.2023 whereas one tranche being vested each year, exercise period 1.6.2020–31.1.2029.

2) Exercise price CHF 147.85, vesting period 1.2.2018–1.6.2022 whereas one tranche being vested each year, exercise period 1.6.2019–31.1.2028.

3) Exercise price CHF 130.00, vesting period 1.2.2017–1.6.2021 whereas one tranche being vested each year, exercise period 1.6.2018–31.1.2024.

4) Exercise price CHF 124.20, vesting period 1.2.2016–1.6.2020 whereas one tranche being vested each year, exercise period 1.6.2017–31.1.2023.

5) Exercise price CHF 121.10, vesting period 1.2.2015–1.6.2019 whereas one tranche being vested each year, exercise period 1.6.2016–31.1.2022.

6) Exercise price CHF 124.60, vesting period 1.2.2014–1.6.2018 whereas one tranche being vested each year, exercise period 1.6.2015–31.1.2021.

7) Exercise price CHF 109.10, vesting period 1.2.2013–1.6.2017 whereas one tranche being vested each year, exercise period 1.6.2014–31.1.2020.

8) Includes the one-time, non-recurring performance option grant (47,415 options); exercise price of CHF 147.85, vesting period of 1.2.2018 – 1.4.2023, exercise period 1.4.2023 – 30.9.2027.

9) SAR’s EEAP 2017 (SARs grant the right to participate in the appreciation of Sonova shares without issuance of shares).

 

31.3.2018

 

 

Options EEAP 18 1)

 

Options EEAP 17 2)

 

Options EEAP 16 3)

 

Options EEAP 15 4)

 

Options EEAP 14 5)

 

Options EEAP 13 6)

 

Options EEAP 12 7)

 

Total options

Lukas Braunschweiler

 

31,603

 

38,625

 

25,788

 

27,173

 

21,719

 

20,669

 

25,575

 

191,152

Arnd Kaldowski

 

86,543 9)

 

 

 

 

 

 

 

 

 

 

 

 

 

86,543

Hartwig Grevener

 

10,594

 

12,948

 

10,315

 

10,869

 

8,687

 

8,267

 

 

 

61,680

Claudio Bartesaghi 8)

 

4,984

 

2,148 10)

 

1,529

 

 

 

 

 

 

 

 

 

8,661

Claude Diversi

 

10,594

 

12,507

 

7,737

 

3,836

 

1,533

 

 

 

 

 

36,207

Hansjürg Emch

 

10,594

 

12,948

 

10,315

 

10,869

 

8,687

 

8,267

 

1,030

 

62,710

Christophe Fond

 

10,835

 

13,243

 

 

 

 

 

 

 

 

 

 

 

24,078

Martin Grieder

 

10,594

 

12,948

 

7,737

 

5,435

 

 

 

 

 

 

 

36,714

Hans Mehl

 

10,594

 

12,948

 

8,315

 

5,435

 

2,172

 

 

 

 

 

39,464

Andi Vonlanthen

 

10,594

 

12,948

 

10,315

 

10,869

 

8,687

 

8,267

 

4,551

 

66,231

Total

 

197,529

 

131,263

 

82,051

 

74,486

 

51,485

 

45,470

 

31,156

 

613,440

1) Exercise price CHF 147.85, vesting period 1.2.2018–1.6.2022 whereas one tranche being vested each year, exercise period 1.6.2019–31.1.2028.

2) Exercise price CHF 130.00, vesting period 1.2.2017–1.6.2021 whereas one tranche being vested each year, exercise period 1.6.2018–31.1.2024.

3) Exercise price CHF 124.20, vesting period 1.2.2016–1.6.2020 whereas one tranche being vested each year, exercise period 1.6.2017–31.1.2023.

4) Exercise price CHF 121.10, vesting period 1.2.2015–1.6.2019 whereas one tranche being vested each year, exercise period 1.6.2016–31.1.2022.

5) Exercise price CHF 124.60, vesting period 1.2.2014–1.6.2018 whereas one tranche being vested each year, exercise period 1.6.2015–31.1.2021.

6) Exercise price CHF 109.10, vesting period 1.2.2013–1.6.2017 whereas one tranche being vested each year, exercise period 1.6.2014–31.1.2020.

7) Exercise price CHF 95.85, vesting period 1.2.2012–1.6.2016 whereas one tranche being vested each year, exercise period 1.6.2013–31.1.2019.

8) Member of the Management Board since October 1, 2017.

9) Includes the one-time, non-recurring performance option grant (47,415 options); exercise price of CHF 147.85, vesting period of 1.2.2018 – 1.4.2023, exercise period 1.4.2023 – 30.9.2017.

10) SAR’s EEAP 2017 (SARs grant the right to participate in the appreciation of Sonova shares without issuance of shares).

Glossary

AC Audit Committee
AGM Annual General Shareholders’ Meeting
AHV Old Age and Survivors’ Insurance
ALV Unemployment Insurance
Articles of Association Articles of Association of Sonova Holding AG
ASP Average Sales Price
BoD Board of Directors
CAGR Compound Annual Growth Rate
CEO Chief Executive Officer
CFO Chief Financial Officer
CHF Swiss Francs
COO Chief Operating Officer
EBITA Earnings Before Interest, Taxes and Amortization
EEAP Executive Equity Award Plan
EPS Earnings Per Share
FCF Free Cash Flow
GVP Group Vice President
HRM Human Resource Management
KPIs Key Performance Indicators
MB Management Board
n.a. Not applicable
NCC Nomination and Compensation Committee
OPEX Operating Expenses
PSU Performance Share Unit
ROCE Return on Capital Employed
RSU Restricted Share Unit
rTSR relative Total Shareholder Return
SLI Swiss Leaders Index
SMIM Swiss Market Index Mid
VCC Variable Cash Compensation