6.2 Shareholdings of members of the Management Board

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.

	31.03.2021				31.03.2020
	Shares	Restricted Shares 1)	RSUs	Options	Shares	Restricted Shares 2)	RSUs	Options
Robert F. Spoerry, Chair	41,227	14,293			37,656	15,818
Beat Hess, Vice-Chair	6,691	5,353			5,047	6,192
Lynn Dorsey Bleil, Member	30	5,353				4,622
Lukas Braunschweiler, Member	25,007	2,488	2,183	96,016	22,686	1,757	4,328	123,189
Stacy Enxing Seng, Member	3,231	5,353			1,609	6,192
Michael Jacobi, Member		5,353			2,000	6,192
Ronald van der Vis, Member	3,231	5,353			1,609	6,192
Jinlong Wang, Member	4,846	5,353			3,214	6,192
Adrian Widmer, Member 3)		731
Total	84,263	49,630	2,183	96,016	73,821	53,157	4,328	123,189

1) These shares are subject to a restriction period which varies from June 1, 2021 to June 1, 2026 depending on the grant date.

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

3) New member of the Board of Directors since June 2020.

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.

	31.03.2021				31.03.2020
	Shares 1)	PSUs	RSUs	Options	Shares 1)	PSUs	RSUs	Options
Arnd Kaldowski	6,792	11,581		173,017	6,749	8,514		147,563
Hartwig Grevener	9,420	1,854	596	20,210	8,324	3,658	1,947	43,201
Ludger Althoff	919	1,659	792	17,448	550	708	1,056	12,712
Claudio Bartesaghi	681	2,865	73	22,401 2)	539	2,020	211	18,191 2)
Vicky Carr-Brendel	237	1,617	711	16,413 3)		674	947	11,714 3)
Claude Diversi	1,057	4,831	881	27,272	1,000	3,699	1,896	32,141
Christophe Fond	4,236	5,005	933	36,682	4,048	3,823	1,541	36,812
Martin Grieder	1,006	4,765	912	51,812	3,033	3,658	1,947	51,734
Andi Vonlanthen	17,174	4,831	912	65,727	18,276	3,699	1,947	68,775
Total	41,522	39,008	5,810	430,982	42,519	30,453	11,492	422,843

1) Shares are dividend entitled with full voting rights.

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

3) SARs were granted instead of options (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	1,700,717	170	1.9
Other members of the MB 3)	381,350	200,000	1,087,049	544	2.9

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, 2021.

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.

	31.03.2021
		Options EEAP 21 1)	Options EEAP 20 2)	Options EEAP 19 3)	Options EEAP 18 4)	Options EEAP 17 5)	Options EEAP 16 6)	Options EEAP 15 7)	Total options
Arnd Kaldowski		25,454	28,119	32,901	86,543 8)				173,017
Hartwig Grevener			1,649	4,211	5,297	6,474	2,579		20,210
Ludger Althoff		4,736	5,668	7,044					17,448
Claudio Bartesaghi		4,210	4,649	4,881	4,984	2,148 9)	1,529		22,401
Vicky Carr-Brendel		4,699 10)	5,398 10)	6,316 10)					16,413 10)
Claude Diversi		5,639	6,748	6,461	5,297	3,127			27,272
Christophe Fond		5,889	7,048	8,996	8,127	6,622			36,682
Martin Grieder		5,513	6,598	8,422	10,594	12,948	7,737		51,812
Andi Vonlanthen		5,639	6,748	8,614	10,594	12,948	10,315	10,869	65,727
Total		61,779	72,625	87,846	131,436	44,267	22,160	10,869	430,982

1) Exercise price CHF 218.70, vesting period 1.2.2021–1.6.2025 whereas one tranche being vested each year, end of restriction period 31.1.2026, exercise period 1.2.2026–31.1.2031.

2) Exercise price CHF 241.80, vesting period 1.2.2020–1.6.2024 whereas one tranche being vested each year, end of restriction period 31.1.2025, exercise period 1.2.2025–31.1.2030.

3) 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.

4) 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.

5) 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.

6) 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.

7) 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.

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

10) SARs were granted instead of options (SARs grant the right to participate in the appreciation of Sonova shares without issuance of shares).

	31.3.2020
		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 12)	6,316 12)						11,714 12)
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 1.2.2025–31.1.2030.

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

12) SARs were granted instead of options (SARs grant the right to participate in the appreciation of Sonova shares without issuance of shares).

Glossary

AC Audit Committee
AGM Annual General Shareholdersʼ Meeting
AHV Old Age and Survivorsʼ 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
ESG Environmental, Social and Governance
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