Share-based payments
In CHF million | 2013 | 2012 | ||
---|---|---|---|---|
Share-based payments Management Incentive Plan | 2 | 2 | ||
Other share-based payments | 4 | 4 | ||
Total expense of share-based payments | 6 | 6 |
Management Incentive Plan
The Management Incentive Plan is an equity-share plan for members of the Group Executive Board and Board of Directors. A part of the remuneration and of the variable earnings-related compensation of the members of the Board of Directors as well as the Group Executive Board, respectively, is settled in the form of Swisscom shares. The shares are allocated based on their tax values. The level of the earnings-related compensation and the number of shares allocated are determined in the subsequent business year once the financial statements are finalised. The shares allocated to the members of the Group Executive Board are based on the variable earnings-related compensation of the prior year as reported. The tax value per share amounts to CHF 371 (prior year: CHF 310). The shares are subject to a retention period of three years from the grant date. The shares are vested immediately upon delivery.
The allocation and cost of share-based payments to the members of the Board of Directors and of the Group Executive Board may be analysed as follows:
Allocation 2013 |
Number of allocated shares |
Market price in CHF |
Expense in CHF million |
|||
---|---|---|---|---|---|---|
Members of the Board of Directors | 1,667 | 442 | 0.7 | |||
Members of the Group Executive Board 1 | 2,707 | 442 | 1.2 | |||
Total 2013 | 4,374 | 442 | 1.9 | |||
1 Allocation for the financial year 2012.
|
Allocation 2012 |
Number of allocated shares |
Market price in CHF |
Expense in CHF million |
|||
---|---|---|---|---|---|---|
Members of the Board of Directors | 1,927 | 361 | 0.7 | |||
Members of the Group Executive Board 1 | 2,844 | 361 | 1.0 | |||
Total 2012 | 4,771 | 361 | 1.7 | |||
1 Allocation for the financial year 2011.
|
Other share-based payments plans
As recognition for exceptional services rendered during the financial year, equity share premiums may be awarded to a maximum of 10% of managerial employees and those employees covered by the collective employment agreement. In 2013, 10,270 shares with a market price of CHF 442 per share were issued gratuitously and an expense of CHF 4 million was recorded. In the prior year, 10,692 shares with a market price of CHF 361 were issued gratuitously for exceptional services rendered and an expense of CHF 4 million was recorded.