Governance Information • Feb 3, 2025
Governance Information
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In November 2024, the Management Board and the Supervisory Board of Bike24 Holding AG ("Bike24") have published their Compliance Statement with the recommendations of the German Corporate Governance Code in the version dated April 28, 2022 ("Code"). There they declared, inter alia, that they deviate from the recommendations in Sections G. 7 sentence 1, G. 8 and G. 9 sentence 1 of the Code.
The Management Board and the Supervisory Board of Bike24 are updating their Compliance Statement with the following highly precautionary addition to the declaration of deviation from the recommendation in Section G. 8 of the Code:
A subsequent change to the target values or comparison components of the Management Board remuneration cannot be ruled out in light of Bike24's evolutionary process and the economic conditions. In view of the stabilization of the company's development in a difficult macroeconomic environment, the Supervisory Board has decided in January 2025 to slightly reduce the revenue targets for the short-team variable remuneration and long-term variable remuneration with regard to the financial year 2024 in order to ensure appropriate remuneration and incentives for the further development of Bike24. The other target values with regard to the adjusted Group EBITDA and the non-financial targets remain unchanged.
Otherwise, the Compliance Statement of November 2024 remains valid.
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[^0]: *This document is a convenience translation of the German original. In case of discrepancy between the English and German versions, the German version shall prevail.
Andres Martin-Birner
Timm Armbrust
Ralf Kindermann
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