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 table shows the equity of the individual members of the Board of Directors and persons closely linked to them.

	31.03.2020				31.03.2019
	Shares	Restricted Shares 1)	RSUs	Options	Shares	Restricted Shares 2)	RSUs	Options
Robert F. Spoerry, Chairman	37,656	15,818			34,446	17,498
Beat Hess, Vice-Chairman	5,047	6,192			3,438	7,140
Lynn Dorsey Bleil, Member		4,622				3,961
Lukas Braunschweiler, Member 3)	22,686	1,757	4,328	123,189	19,862	1,096	7,152	165,577
Stacy Enxing Seng, Member	1,609	6,192				7,140
Michael Jacobi, Member	2,000	6,192			2,481	7,140
Ronald van der Vis, Member	1,609	6,192				7,140
Jinlong Wang, Member	3,214	6,192			1,605	7,140
Total (active members)	73,821	53,157	4,328	123,189	61,832	58,255	7,152	165,577
Anssi Vanjoki, Member 4)					5,481	7,140
Total (including former members)	73,821	53,157	4,328	123,189	67,313	65,395	7,152	165,577

1) These shares are subject to a restriction period which varies from June 1, 2020 to June 1, 2025 depending on the grant date.

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

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

4) Member of the Board of Directors until June 2019

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.

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.

	31.03.2020				31.03.2019
	Shares 1)	PSUs	RSUs	Options	Shares 1)	PSUs	RSUs	Options
Arnd Kaldowski	6,749	8,514		147,563	6,599	6,406		119,444
Hartwig Grevener	8,324	3,658	1,947	43,201	6,991	2,834	3,280	36,603
Ludger Althoff 2)	550	708	1,056	12,712
Claudio Bartesaghi	539	2,020	211	18,191 6)	325	1,440	425	13,542 6)
Vicky Carr-Brendel 3)		674	947	11,714
Claude Diversi	1,000	3,699	1,896	32,141	3,000	2,856	3,080	35,665
Christophe Fond	4,048	3,823	1,541	36,812	0	2,943	1,989	29,764
Martin Grieder	3,033	3,658	1,947	51,734	3,000	2,834	3,280	45,136
Andi Vonlanthen	18,276	3,699	1,947	68,775	16,943	2,856	3,280	70,294
Total (active members)	42,519	30,453	11,492	422,843	36,858	22,169	15,334	350,448
Hansjürg Emch 4)					7,696	1,854	2,649	57,680
Hans Mehl 5)					3,118	1,854	3,280	28,181
Total (including former members)	42,519	30,453	11,492	422,843	47,672	25,877	21,263	436,309

1) Shares are dividend entitled with full voting rights.

2) Member of the Management Board since April 1, 2019.

3) Member of the Management Board since April 1, 2019.

4) Member of the Management Board until March 31, 2019.

5) Member of the Management Board until March 31, 2019.

6) 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	1,177,026	118	1.3
Other members of the MB 3)	385,986	200,000	779,786	390	2.0

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 31, 2020.

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.

	31.03.2020
		Options EEAP 20 1)	Options EEAP 19 2)	Options EEAP 18 3)	Options EEAP 17 4)	Options EEAP 16 5)	Options EEAP 15 6)	Options EEAP 14 7)	Total options
Arnd Kaldowski		28,119	32,901	86,543 10)					147,563
Hartwig Grevener		6,598	8,422	10,594	9,711	5,158	2,718		43,201
Ludger Althoff 8)		5,668	7,044						12,712
Claudio Bartesaghi		4,649	4,881	4,984	2,148 11)	1,529			18,191
Vicky Carr-Brendel 9)		5,398	6,316						11,714
Claude Diversi		6,748	8,614	7,946	6,254	2,579			32,141
Christophe Fond		7,048	8,996	10,835	9,933				36,812
Martin Grieder		6,598	8,422	10,594	12,948	7,737	5,435		51,734
Andi Vonlanthen		6,748	8,614	10,594	12,948	10,315	10,869	8,687	68,775
Total		77,574	94,210	142,090	53,942	27,318	19,022	8,687	422,843

1) Exercise price CHF 241.80, vesting period 1.2.2020–1.6.2024 whereas one tranche being vested each year, end of holding period 31.1.2025, exercise period 1.6.2021–31.1.2030.

2) 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.

3) 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.

4) 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.

5) 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.

6) 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.

7) 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.

8) Member of the Management Board since April 1, 2019.

9) Member of the Management Board since April 1, 2019.

10) 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.

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

	31.3.2019
		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).

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
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
SARs Stock Appreciation Rights
SLI Swiss Leaders Index
SMIM Swiss Market Index Mid
VCC Variable Cash Compensation