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Remuneration (continued)
Ahold at a glance I Business review I Governance I Financials I Investors
Conditional share grant
The target value to be granted under the conditional share grant component for the Management Board
is 50% of base salary. The actual value of the conditional share grant is subject to a performance condition
at grant. The performance condition is the EIP multiplier of the preceding year (with a range between 0%
and a maximum of 150%). The maximum conditional share grant value is 75% of base salary.
Timeline for 2015 conditional GRO grant
Performance period for EIP
April grant
April vesting
2014
2015
2016
2017
2018
Ahold
Annual Report 2015
Performance share grant
The target value to be granted under the performance share grant is different for each Management Board
position, to align this component with market practice. For the CEO the target grant value is 170% of base
salary, for the U.S.-based COO the target grant value is 135% of base salary and for the CFO the grant value
is 100% of base salary. The vesting of the performance shares is subject to a performance hurdle at vesting
after a performance period of three years.
Half of the performance share grant is linked to a three-year return on capital target. The number of shares that
eventually vest depends on RoC performance and can range between 0% and a maximum of 150% of the
number of shares granted.
For the other half of the performance grant, the performance at vesting is measured using relative total
shareholder return (TSR). Relative TSR measures share price growth plus dividends paid over the performance
period benchmarked against the TSR performance of Ahold's peer group (see table under Benchmarking).
The number of shares that will vest depends on Ahold's relative ranking in the peer group. An independent
external advisor determines the ranking. The table below indicates the percentage of performance shares that
will vest based on Ahold's ranking. No shares will vest to Management Board members if Ahold ranks below
the sixth position.
2014-2015 GRO program rank
1 2 3
4
5
6
7
8
9
10 11 12
Percentage of performance
shares vesting
175% 150% 125%
100%
75%
50%
0%
0%
0%
oA
O
oA
O
oA
O
