Share-based compensation of executives

Pursuant to the recommendation in Subsection 7.1.3 of the German Corporate Governance Code, the share-based compensation of executives of METRO GROUP will also be reported in the following section.

Performance share plan 2009–2013

The performance share plan 2009–2013 applies not only to the members of the Management Board, but also to high-level executives of METRO AG as well as to high-level managing directors and executives of METRO GROUP companies. Under this scheme, eligible managers are given an individual target amount as part of the performance share plan (target value) in accordance with the significance of their responsibilities. The additional rules of this plan correspond to provisions for the Management Board.

With the performance share plan, the share ownership guidelines were also applied to this group of eligible individuals. The required investment volume generally amounts to about 50 per cent of the individual target value.

The value of the performance shares allotted in the short financial year 2013 amounted to €17.3 million (12M 2012: €26.8 million) at the time of the allotment and was calculated by external experts using recognised financial-mathematical methods (Monte Carlo simulation). The following conditions apply:

Performance share plan (tranches 2009–2013)

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Tranche

End of the blocking period

Three-month average price before allotment

Number of Management Board performance shares as of 30/9/2013

2009

August 2012

€36.67

593,300

2010

August 2013

€42.91

283,930

2011

August 2014

€41.73

367,163

2012

April 2015

€29.18

578,031

2013

April 2016

€22.84

768,591

The blocking period for the 2009 and 2010 tranches ended in August 2012 and August 2013 respectively. No payouts from this tranches were made in the short financial year 2013.