Members of the Board of Directors and Group Management as well as their next of kin, and companies which are controlled by these individuals either by virtue of a majority shareholding or as a result of their role as Chairman of the Board and/or Chief Executive Officer in these companies, are considered to be related companies and individuals.
in CHF 1,000 | 2016 | 2015 |
|---|---|---|
Remuneration of the members of the Board of Directors |
|
|
Remuneration due in the short term1,2 | 1,391 | 1,097 |
Post-employment benefits |
|
|
Other long-term remuneration due |
|
|
Remuneration due upon termination of contract of employment |
|
|
Share-based payment1, 2, 3 | 409 | 320 |
|
|
|
Remuneration of the members of Group Management |
|
|
Remuneration due in the short term2 | 3,306 | 2,556 |
Post-employment benefits |
|
|
Other long-term remuneration due |
|
|
Remuneration due upon termination of contract of employment |
|
|
Share-based payments2,4 | 1,600 | 1,133 |
- The social-security costs and any applicable value-added taxes on the emoluments paid to Board members are not included.
- Compensation for out-of-pocket expenses is not included.
- The shares are not subject to any minimum holding period (see notes 43 and 44).
- Performance-related and restricted shares with conditional entitlement to receive registered shares A of VP Bank.
VP Bank Group also makes payments to related persons within the framework of brokerage services and bought-in advisory services. These correspond to customary market conditions. The aggregate amount of such payments and fees in 2016 was CHF 0.911 million (previous year: CHF 0.906 million). The Board of Directors and the Group Management as well as parties related thereto (excluding qualifying shareholders) and retirement pension plans as of 31 December 2016, held 87,604 registered shares A and 100,000 registered shares B of VP Bank Ltd, Vaduz (previous year: 87,604 registered shares A and 139,750 registered shares B).
in CHF 1,000 | 2016 | 2015 |
|---|---|---|
Mortgages and loans at the beginning of the financial year | 8,380 | 8,950 |
Additions | 20,200 | 145 |
Repayments | –6,675 | –715 |
Mortgages and loans at the end of the financial year | 21,905 | 8,380 |
With regard to members of the Board of Directors and Group Executive Management, basically the same conditions apply as for all other employees. They correspond to customary market conditions excluding a credit margin. Loans to related individuals and companies were granted under normal market conditions. A guarantee of CHF 55.272 millon was issued for related party. The collateral/surety for this guarantee is considerably above the usual market requirements.