Note 26: Remuneration of the Supervisory Board and the Board of Management

Total compensation for key management personnel expensed during the period amounted to €21.7 million (2019: €20.9 million). An amount of €8.2 million relates to short-term employee benefits (2019: €7.9 million); €0.6 million relates to post contract benefits and other post contract compensation (2019: €0.7 million); €4.5 million relates to share-based compensation (2019: €5.9 million); €7.7 million relates to other long-term incentives (2019: €3.1 million); and €0.7 million relates to payments upon termination of employment (2019: €3.3 million). Additional charges of €1.4 million (2019: €2.9 million) were accrued which relate to taxation on excessive pay (“Belasting heffing excessieve beloningsbestanddelen”).

This compensation includes total remuneration for the members of the Supervisory Board of €0.8 million (2019: €1.0 million) and for the members of the Board of Management of €9.1 million (2019: €6.5 million). For more details on the remuneration of the individual members of the Supervisory Board and the Board of Management reference is made to the Remuneration report.

In accordance with the Articles of Association and good corporate governance practice, the remuneration of Supervisory Board members is not dependent on the results of the company. We do not grant share-based compensation to our Supervisory Board members.

An overview of shares held by the Supervisory Board members is provided on this page. A similar overview is provided of the shares held by the Board of Management.

Loans

The company does not grant loans, advance payments or guarantees to members of the Supervisory Board, members of the Executive Committee or any family members of such persons.