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Executive shareholding
The members of the Supervisory Board do not possess shares in Kendrion.
A list of the number of Kendrion shares held by the members of the Executive Board at 31 December 2012 is provided below.
| Executive Board | |
| Mr P. Veenema | 32,918 |
| Mr E. Ris | 20,973 |
In 2012, 17,269 shares have been issued to the CEO and 12,886 shares to the CFO according to a deferred payout scheme of a variable bonus in 2009. According to the bonus arrangements over 2010 for the CEO and the CFO, 3,132 shares and 2,323 shares were conditionally granted to the CEO and CFO respectively. All shares conditionally granted to Mr E. Ris have become unconditional due to his resignation effective 28 February 2013.
A share plan for the top management of Kendrion was introduced in 2005. This plan provides for the allocation of shares in Kendrion as payment in kind. After the General Meeting of Shareholders in each year the number of shares awarded to the senior management of Kendrion in that year is determined by the Supervisory Board on the basis of the Executive Board’s recommendations. The plan does not extend to the Executive Board.
In addition, the Vice-President Automotive, the Business Unit Managers and a number of other officers are offered an opportunity to apply for the conversion of a maximum of half of their annual net cash bonus into shares. Kendrion doubles the number of shares after three years when officers are still employed by Kendrion and still possess the shares. Pursuant to these share plans a total of 7,014 shares were issued in 2012. A bonus scheme in shares was granted to the members of the Executive Board for 2012.