Annual report 2023

Compensation of the Executive Committee for 2023

The following table discloses the actual compensation paid to the members of the Executive Committee in detail for financial year 2023 while performing services for medmix.

 

 

2023

 

 

Cash compensation

 

Deferred compensation based on future performance

thousands of CHF

 

Base salary

 

Bonus 2)

 

Other 3)

 

Pension and social security contributions 4)

 

Total cash-based compen- sation

 

Estimated value of share-based grant under the Perfor- mance Share Plan (PSP) 5)

 

Total (incl. conditional share-based grant)

thereof highest single compensation G. Cimermans, CEO

 

550

 

216

 

25

 

277

 

1’068

 

698

 

1’765

Total Executive Committee 1)

 

1’325

 

407

 

29

 

623

 

2’383

 

1’065

 

3’449

 

 

2022

 

 

Cash compensation

 

Deferred compensation based on future performance

thousands of CHF

 

Base salary

 

Bonus

 

Other

 

Pension and social security contributions 4)

 

Total cash-based compen- sation

 

Estimated value of share-based grant under the Perfor- mance Share Plan (PSP) 6)

 

Total (incl. conditional share-based grant)

thereof highest single compensation G. Cimermans, CEO

 

550

 

458

 

27

 

331

 

1’366

 

1’114

 

2’480

Total Executive Committee

 

1’270

 

818

 

31

 

676

 

2’795

 

1’575

 

4’370

1) The total Executive Committee compensation for 2023 includes the compensation of Xavier Schops, Executive Committee member since November 1, 2023, excluding the PSP grant as Executive Committee member, which will take place in 2024.

2) Expected bonus for the performance years 2023, to be paid out in the following year (accrual principle).

3) Other consists of child, schooling allowances, insurance allowances and tax services.

4) Includes the employer contribution to social security.

5) Represents the full fair value of the PSUs granted under PSP 2023. Grant price was CHF 17.85 (three-month volume weighted average share price) and the fair value was CHF 22.64 based on a third-party calculation.

6) Represents the full fair value of the PSUs granted under PSP 2022. Grant price was CHF 31.81 (three-month volume weighted average share price) and the fair value was CHF 33.87 based on a third-party calculation.

The total compensation of kCHF 3'449 awarded to the members of the Executive Committee for the financial year 2023 is within the maximum aggregate compensation amount of kCHF 8'500 that was approved by the shareholders at the 2022 AGM for financial year 2023.

No severance payments to members of the Executive Committee were made during the reporting year and the prior year. As of December 31, 2023 and 2022, respectively, there were no outstanding loans or credits granted to the members of the Executive Committee or former members of the Executive Committee. In 2023 and 2022, respectively, no compensation, loans or credits were granted to former members of the Executive Committee or related parties.