31 Related party transactions continued
-
Ahold
Annual Report 2011
Groupata glance
Performance
Governance
Notes to the consolidated financial statements continued
Investors
Remuneration of the individual Corporate Executive Board members
The remuneration of the individual Corporate Executive Board members, which is disclosed as of the year the members' appointment was
approved by the General Meeting of Shareholders, can be specified as follows:
Direct remuneration
Deferred remuneration
thousand
Base salary
Bonuses1
Total direct
Other2 remuneration
Share-based
compensation3
Pensions4
Total
remuneration
Dick Boer
2011
898
907
23
1,828
771
131
2,730
2010
638
574
14
1,226
720
117
2,063
Lodewijk Hijmans van den Bergh
2011
500
505
11
1,016
239
120
1,375
2010
500
450
11
961
98
149
1,208
John Rishton5
2011
149
57
206
93
38
337
2010
945
851
189
1,985
(275)
257
1,967
Kimberly Ross6
2011
2010
491
550
495
246
174
737
1,219
(611)
503
(454)
162
(328)
1,884
Lawrence Benjamin7
2011
59
64
127
250
(113)
137
2010
745
663
139
1,547
1,486
349
3,382
Total 2011
2,097
1,476
464
4,037
492
(278)
4,251
Total 2010
3,378
3,033
527
6,938
2,532
1,034
10,504
1 Bonuses represent accrued bonuses to be paid in the following year.
2 "Other" mainly includes allowances for housing expenses, international school fees, employer's contributions to social security plans, and benefits in kind such as tax advice, tax
compensation, and medical expenses, and the associated tax gross up.
3 The amounts represent the share-based compensation expense calculated under IFRS 2. The fair value of each year's grant is determined on the grant date and expensed on a
straight-line basis over the vesting period. The expense for 2011 reflects this yeafs portion of the share grants over the previous five years (2007 to 2011).
4 Pension costs are the total net periodic pension costs.
5 John Rishton voluntarily resigned from the Corporate Executive Board on February 28, 2011The share-based compensation expense related to John Rishton's service period
during 2011 was €93,000 (relating to shares vesting in 2011). The share-based compensation expense related to his service period in 2010 was €317,000. In addition, an amount
of €592,000 was reversed in 2010, representing the share-based compensation expense recognized in the previous years related to shares that were forfeited (the three-year
grants for 2009 and 2010 and the five-year grants for 2007, 2008, 2009, and 2010).
6 Kimberly Ross voluntarily resigned from the Corporate Executive Board on November 22, 2011The share-based compensation expense related to Kimberly Ross' service period
during 2011 was €43,000 (relating to shares vesting in 2011). In addition, an amount of €654,000 was reversed, representing the share-based compensation expense recognized
in the previous years related to shares that were forfeited (the three-year grants for 2009 and 2010, the five-year grants for 2007, 2008, 2009, and 2010 and the matching shares
related to the 2007 grant).
7 Under the GRO program, all retirees are allowed to retain shares that have been granted to them and normal vesting conditions apply. Lawrence Benjamin's service period, for
share-based compensation expense purposes, ended with his retirement eligibility date on December 12010. The share-based compensation expense related to the service
performed by Lawrence Benjamin during 2010 was €402,000. In addition, an amount of €1,084,000 was recognized, representing the remaining unamortized expense on the non-
vested portion of GRO shares granted to him, as his service period ended with his retirement eligibility.
