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MLP SE Remuneration Information 2025
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Remuneration Information
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Compensation report for the financial year 2024 pursuant to §162 of the German Stock Corporation Act (AktG)
I. Introduction
The compensation report sets out the principles and organisation of compensation for the Executive Board and Supervisory Board at MLP SE. It contains the compensation granted and owed to current and former members of the Executive Board and Supervisory Board in the financial year 2024. The compensation report was prepared jointly by the Executive Board and Supervisory Board in accordance with § 162 of the German Stock Corporation Act (AktG). It also takes into account the recommendations and suggestions of the German Corporate Governance Code (GCGC) in the version dated April 28, 2022.
The compensation report was audited by BDO AG Wirtschaftsprüfungsgesellschaft in accordance with the requirements of § 162 (3) of the German Stock Corporation Act (AktG).
II. Review of the financial year 2024
Business development
In the financial year 2024, MLP set new record levels in terms of total and sales revenue. The Group was once again able to capitalise on the strengths of the strategically optimised positioning it has developed in recent years. Overall, MLP can reflect on good business performance. Thanks to a strong operating performance, total revenue - comprising sales revenue and other income - rose to a new high of €1,066.7 million (€973.5 million), with sales revenues contributing the largest share €1,037.5 million (€941.1 million). Interest expenses rose significantly to €30.2 million (€16.3 million), as did expenses from the commission business at €474.9 million (€426.7 million). In contrast, real estate development expenses declined markedly to €5.1 million (€18.7 million). The three expense items therefore tended to develop in line with the corresponding revenue items. With an increase of 5.0%, administration costs remained at almost the same level as the previous year. EBIT (earnings before interest and taxes) increased significantly to €95.0 million (€70.7 million). This result contributes to the resilience that MLP has built up in recent years by significantly broadening its range of services and thereby also its revenue base.
Changes in the composition of the Executive Board and the Supervisory Board
There were no changes to the Executive Board or the Supervisory Board at MLP SE in the financial year 2024.
Compensation report 2023
The compensation report 2023 was submitted to the Annual General Meeting 2024 for approval in accordance with the requirements of § 120a of the German Stock Corporation Act (AktG) and approved with an approval rate of 73.96%. The compensation report 2023 is available via the following link:
https://mlp-se.com/investors/corporate-governance/compensation-report-and-the-auditors-report/
The Executive Board and Supervisory Board endeavour to constantly review and further improve the transparency and clarity of compensation reporting. In the compensation report 2024, the bonus percentage of the variable compensation and the shareholdings of the members of the Executive Board are therefore reported alongside the goal setting and goal achievement for the sustainability goals.
III. Pay system
On December 15, 2022, the Supervisory Board approved the compensation system for the Executive Board at MLP SE in accordance with § 87a of the German Stock Corporation Act (AktG). This compensation system was approved by the Annual General Meeting of MLP SE
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on June 29, 2023 in accordance with § 120a of the German Stock Corporation Act (AktG). It can be called up on the homepage of MLP SE under via the following link:
https://mlp-se.com/investors/corporate-governance/compensation-system-for-the-executive-board-and-supervisory-board/
The Supervisory Board constantly reviews and refines the existing compensation system on the basis of ongoing dialogue with investors and taking into account current market practices. As explained above, the compensation system initially approved by the Annual General Meeting 2021 was extended to include a sustainability component in December 2022 and then resubmitted to the Annual General Meeting 2023 for approval (approval rate: 72.62%). In order to implement a suggestion from the GCGC, as well as other suggestions from certain investors, and to bring the compensation system into line with current market practices, the intention is to revise the compensation system, particularly with regard to the change of control clause, and to resubmit it to the Annual General Meeting 2025 for approval.
IV. Principles of Executive Board compensation
The members of the Executive Board receive a fixed basic salary, a variable compensation component, occupational pension scheme benefits and standard market perks. The level of the individual components for the financial years 2023 and 2024 can be seen in the table under V., 1).
1) Objectives
MLP SE is the superordinated undertaking of the MLP Financial Holding Group and is therefore subject to special regulatory requirements. These result in particular from the German Banking Act (KWG) and the Ordinance on the Supervisory Requirements for Institutions' Pay Systems (InstitutsVergV). The Executive Board compensation satisfies these special requirements.
In particular, these include the following stipulations:
- As a general rule, the variable compensation must not exceed 100% of the fixed compensation. With the approval of the Annual General Meeting, however, this upper limit can be increased to 200%. Approval to this effect was granted by the Annual General Meeting 2014;
- Variable compensation should have a multi-year assessment basis; the Executive Board or Supervisory Board should agree a cap for extraordinary developments;
- Incentives that encourage employees to take disproportionately high risks should be avoided;
- The compensation systems must not be contrary to the monitoring function of the control units or of the member of the Executive Board responsible for risk management;
- Consumer rights and interests must be taken into account; in particular, quantitative compensation parameters must not be used exclusively insofar as consumer interests are directly impacted;
- The compensation system must be gender-neutral, so that any pay discrimination on the grounds of gender for equal or equivalent work is ruled out.
Alongside complying with regulatory requirements, MLP SE's Executive Board compensation aims to ensure long-term and sustainable growth. The variable compensation is designed in such a way that it promotes profitable management and supports holistic thinking on the Executive Board. Integration of sustainability goals helps secure overall social responsibility. MLP also considers it important to ensure that the compensation system is simple and easy to understand. No added value is seen in following short-term market trends. Instead, MLP believes that the stable, longstanding compensation model has proven its worth.
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2) Basic salary
The basic salary is regulated in the respective Executive Board service contract and is paid monthly.
3) Variable compensation
The variable compensation is divided into an immediate payment and a deferred payment.
Base amount
The base amount for the variable compensation is calculated by multiplying the assessment basis by a bonus rate:
$$
\text{Base amount} = \text{assessment basis} \times \text{bonus rate}
$$
If the Executive Board service contract starts or ends in the course of the financial year, the base amount is reduced pro rata temporis.
Assessment basis
The variable compensation assessment is always based on the EBIT of the MLP Group in accordance with the following provisions:
- The key figure is therefore Group EBIT that would result without deduction of profit-sharing payments.
- Insofar as continuing operations and discontinued operations were to be recognised in the financial year, the basis of assessment is formed by the total of the EBIT of operations to be continued and discontinued respectively.
- No costs or income directly related to the discontinuation/sale of business segments are included here.
- The calculation is performed on the basis of the income statement of the MLP Group in accordance with the international accounting standards (IFRS) applied in the MLP Group.
Bonus rate
The relevant bonus rate is set out in the Executive Board service contract of the respective Executive Board member and can be found in the following table:
| Member of the Executive Board | Contractually agreed bonus rate (percentage) |
|---|---|
| Dr Uwe Schroeder-Wildberg | 1.2% |
| Manfred Bauer | 0.8% |
| Reinhard Loose | 0.8% |
Immediate payment
The immediate payment is 45% of the base amount. The calculated immediate payment is subject to adjustment rights of the Supervisory Board. Taking into account any adjustment rights exercised (see below), the immediate payment will be made after submission of the company's approved financial statements.
Deferred payment
The deferred payment is 55% of the base amount. However, in order to ensure sustainable development, the EBIT of the financial year for which the variable compensation is paid (base
year) is not used to calculate the deferred payment, but rather the average EBIT of the three years following the base year (updated base amount). The deferred payment is calculated on the basis of the updated base amount and is then subject to the Supervisory Board's right of adjustment.
Taking into account any adjustment rights exercised (see below), the deferred payment is paid out in the fourth year after the base year. Payment in the fourth year after the end of the financial year instead of the recommendation of the GCGC ("after four years") is considered appropriate in view of MLP's business orientation and has proven itself in the past from MLP's perspective.
Calculation example 1)
Year 1 (base year): EBIT = €80 million
Year 2: EBIT = €86 million
Year 3: EBIT = €90 million
Year 4: EBIT = €100 million
Bonus rate (percentage): 1.0%
The immediate payment for the base year is paid in year 2 and is €360 thsd (base amount = €80 million x 1.0%, of which 45% = €360 thsd).
The deferred payment for the base year is paid in year 5 and is €506 thsd (updated base amount = €92 million [(86+90+100):3] x 1.0%, of which 55% = €506 thsd).
Calculation example 2)
Year 1 (base year): EBIT = €80 million
Year 2: EBIT = €86 million
Year 3: EBIT = €70 million
Year 4: EBIT = €60 million
Bonus rate (percentage): 1.0%
The immediate payment for the base year is paid in year 2 and is €360 thsd (base amount = €80 million x 1.0%, of which 45% = €360 thsd).
The deferred payment for the base year is paid in year 5 and is €396 thsd (updated base amount = €72 million [(86+70+60):3] x 1.0%, of which 55% = €396 thsd).
Adjustment rights of the Supervisory Board
The Executive Board service contract grants the Supervisory Board two adjustment rights with regard to variable compensation. These can be exercised independently of one another.
- Exceptional circumstances
The Supervisory Board may reduce or increase the immediate payment by up to 30% and the deferred payment by up to 10%. This adjustment is made at the reasonable discretion of the Supervisory Board based on the assessment of the individual performance of the Executive Board member or due to extraordinary developments. The right of adjustment serves to take account of exceptional situations.
- Sustainability goals:
The Supervisory Board sets the Executive Board sustainability goals for each financial year. Depending on the degree of goal achievement and exercising reasonable judgement, the calculated immediate payment is then reduced by up to 20% or increased by up to 10%.
4) Occupational pension provision
The CEO, Dr Uwe Schroeder-Wildberg, also has an individual occupational benefit plan entitlement. Upon turning 62, he will be eligible for an old-age pension, an occupational disability pension and a surviving dependants' pension. The benefit entitlement for the old-age pension is contractually agreed. The occupational disability pension is 60% of the pensionable salary, while the widow's pension is 60% of the contractually agreed retirement or disability pension. The level of orphan's benefit payable per eligible child is calculated on a case-by-case basis. The total of the widow's pension and orphan's benefit of all entitled persons together must not exceed 100% of the old-age pension.
However, Executive Board members Manfred Bauer and Reinhard Loose receive employer-financed, defined contribution benefits in an occupational pension scheme. Fixed contributions are made to the relief fund for this purpose.
The current service cost for Dr. Schroeder-Wildberg, as well as the contributions to the corresponding pension scheme for Mr Bauer and Mr Loose, can be found in the compensation table (item V., 1) - "Old-age provision").
5) Benefits
As per the compensation system, the members of the Executive Board are entitled to unlimited use of a company car and other customary benefits (such as a company mobile phone also for private use, group accident insurance).
6) Other contractual components with compensation relevance
The service contracts of all Executive Board members contain change of control clauses. These authorise termination for good cause if
- the share of voting rights in the company changes in accordance with § 21 and § 22 of the German Securities Trading Act (old version); or
- the company is transformed in line with the provisions of the Transformation Act (UmwG). This does not apply if the company changes its corporate form, spin-offs in line with § 123 (3) of the German Reorganisation of Companies Act or for mergers in accordance with the provisions of the Reorganisation of Companies Act, in which the company is the incorporating legal entity.
If a member of the Executive Board resigns on the basis of the aforementioned conditions, they are entitled to severance payment of no more than two annual salaries, insofar as the resignation takes place more than two years before the end of contract. Thereafter, the pro rata temporis rule applies. A corresponding provision applies in the event that a member of the Executive Board is dismissed from their Executive Board position without the Executive Board employment contract being terminated and without notice being given.
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To comply with the relevant regulatory requirements, the service contracts of all members of the Executive Board also include the following provisions:
- In the event of negative performance or misconduct on the part of the Executive Board member in question in the sense of § 5 of the Ordinance on the Supervisory Requirements for Institutions' Pay Systems (InstitutsVergV), the Supervisory Board is entitled to reduce the benefits to which said member is entitled at its discretion when said member resigns from his or her position voluntarily.
- The members of the Executive Board undertake not to engage in any personal hedging or other countermeasures as a way of limiting or even eliminating the risk-orientation of compensation.
7) Upper limit (cap)
Executive Board compensation is subject to statutory and contractual caps. The following caps must be observed individually:
- The total compensation of the Chair of the Executive Board may not exceed €2.7 million and the total compensation of the other members of the Executive Board may not exceed €1.8 million each.
- Pursuant to § 25a (5) of the German Banking Act (KWG), the variable compensation component must not exceed 200% of the fixed compensation component. An AGM resolution that proposes increasing the variable compensation cap from 100% to 200% of the fixed compensation component, and thereby deviates from § 25a (5) Sentence 2 of the German Banking Act (KWG), has been submitted.
- The Executive Board service contract also stipulates a maximum amount for the immediate payment and the deferred payment, which corresponds to 150% of the base amount on the basis of an assumed EBIT of €100 million.
8) Compensation comparison
When determining and reviewing the compensation of the Executive Board or a member of the Executive Board, the Supervisory Board takes into account the ratio relative to average pay of the senior management level within the MLP Group, as well as the ratio relative to average pay among the remaining workforce. This applies both to the average compensation within a year and to the development of compensation over multiple years. Attention is paid to ensure that the compensation of Executive Board members is at an appropriate ratio relative to the compensation of the workforce.
In addition to this, a horizontal comparison is performed. The benchmark companies are selected in accordance with the stipulations in the pay system. For the financial year 2024, the benchmark group comprised the following companies:
Aareal Bank AG, Allianz Lebensversicherungs AG, B. Metzler seel. Sohn & Co. Holding AG, Deutsche Beteiligungs AG, Deutsche Pfandbriefbank AG, DWS Group GmbH & Co. KGaA, GRENKE AG, Hauck Aufhäuser Lampe Privatbank AG, Hypoport SE, INDUS Holding AG, Nürnberger Beteiligungs AG, Oldenburgische Landesbank AG, OVB Holding AG, Teambank AG and Union Asset Management Holding AG.
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V. Disclosures on fulfilment of the requirements of § 162 of the German Stock Corporation Act (AktG)
1) Fixed and variable portions of compensation
The following tables show the compensation both granted and owed to active members of the Executive Board in the financial years 2024 pursuant to § 162 (1) Sentence 1 of the German Stock Corporation Act (AktG).
The one-year variable compensation (immediate payment) for activities in the reporting year is considered to be compensation granted in the reporting year, even if payment is not made until after the end of the reporting year, since the underlying activity was fully performed in the reporting year. The same applies to the multi-year variable compensation (deferred payment).
| Dr Uwe Schroeder-Wildberg | Manfred Bauer | |||||||
|---|---|---|---|---|---|---|---|---|
| All figures in €'000 | 2023 Absolute | 2023 Proportion of total compensation | 2024 Absolute | 2024 Proportion of total compensation | 2023 Absolute | 2023 Proportion of total compensation | 2024 Absolute | 2024 Proportion of total compensation |
| Fixed compensation | 625 | 32.08% | 625 | 28.37% | 360 | 29.51% | 360 | 26.45% |
| Benefits incl. company car | 20 | 1.03% | 18 | 0.82% | 18 | 1.48% | 12 | 0.88% |
| Total | 645 | 33.11% | 643 | 29.19% | 378 | 30.98% | 372 | 27.33% |
| One-year variable compensation | 433 | 22.23% | 648 | 29.41% | 288 | 23.61% | 432 | 31.74% |
| Multi-year variable compensation | 606 | 31.11% | 610 | 27.69% | 404 | 33.11% | 407 | 29.90% |
| Total compensation (as per §162 of the German Stock Corporation Act (AktG)) | 1,684 | 86% | 1,901 | 86% | 1,070 | 88% | 1,211 | 89% |
| Old-age provision | 264 | 13.55% | 302 | 13.71% | 150 | 12.30% | 150 | 11.02% |
| Total compensation (incl. old-age provision) | 1,948 | 100% | 2,203 | 100% | 1,220 | 100% | 1,361 | 100% |
| Reinhard Loose | ||||||||
| --- | --- | --- | --- | --- | ||||
| All figures in €'000 | 2023 Absolute | 2023 Proportion of total compensation | 2024 Absolute | 2024 Proportion of total compensation | ||||
| Fixed compensation | 360 | 29.51% | 397 | 28.40% | ||||
| Benefits incl. company car | 18 | 1.48% | 12 | 0.86% | ||||
| Total | 378 | 30.98% | 409 | 29.26% | ||||
| One-year variable compensation | 288 | 23.61% | 432 | 30.90% | ||||
| Multi-year variable compensation | 404 | 33.11% | 407 | 29.11% | ||||
| Total compensation (as per §162 of the German Stock Corporation Act (AktG)) | 1,070 | 88% | 1,248 | 89% | ||||
| Old-age provision | 150 | 12.30% | 150 | 10.73% | ||||
| Total compensation (incl. old-age provision) | 1,220 | 100% | 1,398 | 100% |
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Compensation components of the Chair of the Executive Board in %
Compensation components of the members of the Executive Board in % (average)
Fixed
Compensations
Variable
Compensations
= Old age provisions
Fixed
Compensations
Variable
Compensations
= Old age provisions
With effect from February 1, 2024, Executive Board member Reinhard Loose received an increase in fixed compensation from €360 thsd to €400 thsd (a raise of around 11.1%). The salary adjustment was made as part of the contract extension with the addendum dated March 22, 2023 and is based on the excellent performance of the Executive Board member and the market situation. The last time Mr Loose's fixed compensation was increased was with effect from February 1, 2013. Over the 11-year period relevant here, the increase in the fixed salary of €40 thsd therefore corresponds to an annual increase rate of around 0.96%.
2) Portions of compensation correspond with the pay system
All compensation components granted correspond to the compensation system for the Executive Board at MLP SE adopted by the Supervisory Board and approved by the Annual General Meeting of MLP SE on June 29, 2023.
3) Promotion of long-term development
The key strategic objective is to bring about profitable and sustainable growth. The sustainable development of the company should be the primary focus and, where necessary, take priority over short-term success. One of the most important prerequisites for ensuring this prioritisation is continuity in the composition of the Executive Board. Executive Board compensation appropriate to the size, sector, and economic situation of the company ensures profits and, in particular, long-term retention of suitable executive personalities.
Executive Board compensation generally comprises fixed and variable components. The level of the fixed compensation components is calculated in such a way that there is no significant dependency on the variable compensation components. The target amount and assessment basis for the variable compensation components are set in such a way as to encourage seizing of opportunities, while at the same time preventing the taking of disproportionate risks. Furthermore, the predominant portion of the variable compensation is structured to stretch over several years.
4) Application of performance criteria (including sustainability goals)
The variable compensation is based on the EBIT of the MLP Group and is subject to certain adjustment rights, as described in section IV. 3).
Right of adjustment due to exceptional circumstances
The performance of the individual Executive Board members can be taken into account via the adjustment right provided for in the Executive Board service contract. However, the Supervisory Board did not see any reason to exercise this right of adjustment for the financial year 2024. The individual performance of all Executive Board members was in line with the high expectations placed on them. The Supervisory Board also saw no reason to adjust the
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variable compensation of the Executive Board members due to extraordinary external factors (extraordinary development).
Adjustment right based on the sustainability goals
The immediate payment of variable compensation is adjusted depending on the achievement of the sustainability goals set for the financial year in question.
The goals "CO₂ emissions per employee" and "Women in leadership" were set for the financial year 2024. The target values can be found in the following table:
| Goal: | 0% goal achievement | 100% goal achievement | 150% goal achievement | Weighting of goals |
|---|---|---|---|---|
| CO₂ emissions | 3.21 tCO₂/HC | 2.68 tCO₂/HC | 2.41 tCO₂/HC | 50% |
| Women in leadership | 29.24% | 30.78% | 31.55% | 50% |
The actual values achieved, as well as the resulting calculated degree of goal achievement, can be seen in the following table:
| Goal: | Target value (100%) | Actual value | Degree of goal achievement |
|---|---|---|---|
| CO₂ emissions | 2.68 tCO₂/HC | 2.46 tCO₂/HC | 134.7% |
| Women in leadership | 30.78% | 32.27% | 150.0% |
Total goal achievement for the financial year 2024 was therefore 142.35%. The Supervisory Board has assessed this result using its reasonable judgement and has come to the conclusion that there are no circumstances that require an adjustment to the mathematically calculated degree of goal achievement. The Supervisory Board has therefore set the ESG factor at 1.085 in line with the contractual logic. The immediate payment of variable compensation for the financial year 2024 calculated on the basis of EBIT was increased accordingly by 8.5%.
5) Comparison of Executive Board compensation, earnings performance, employee pay
The annual change in the compensation of the Executive Board, the earnings performance of the company and the average pay of employees (on the basis of full-time equivalents) are shown below.
For the purpose of presentation, the table below comprises all employees of the following¹ Group companies for the financial year 2024: MLP SE, MLP Finanzberatung SE, MLP Banking AG, Uniwunder GmbH, ZSH GmbH Finanzdienstleistungen, MLP Dialog GmbH, FERI AG, FERI (Luxembourg) S.A., FERI (Schweiz) AG, DOMCURA AG, RVM GmbH, RVM Versicherungsmakler GmbH, RISConsult GmbH, Dr. Schmitt GmbH Würzburg and DI Deutschland. Immobilien AG. Benefits for old-age provision are not taken into account with respect to both the members of the Executive Board and the employees.
Executive Board compensation was calculated on the basis of the Group EBIT of €94,991 thsd (previous year: €70,724 thsd).
¹ The composition may differ slightly for previous financial years and can be found in the respective compensation report for the financial year in question.
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All figures in €'000
2021 2022 Change from previous year 2023 Change from previous year 2024 Change from previous year
Total compensation of the members of the Executive Board 3.107 3.694 18,89% 3.824 3,52% 4.360 14,02%
Earnings* of the company 54.977 43.590 -20,71% 54.812 25,74% 38.375 -29,99%
Average pay of employees (arithmetic mean) 72,18 76,92 6,58% 75,04 -2,44% 77,71 3,55%
Average pay of employees (median) 54,45
*Earnings before taxes (EBT) of MLP SE pursuant to the German Commercial Code (HGB)
Alongside the obligation to prepare and publish a compensation report, MLP is also subject to various other reporting obligations. In sustainability reporting in particular, the median is generally used as the basis for averaging. In the interests of comparability, the average compensation of employees is stated in the compensation report 2024 on the basis of both the arithmetic mean and the median.
6) Share-based compensation
Based on recommendation G.10 sentence 1 of the GCGC, the variable compensation elements granted to a member of the Executive Board should predominantly be invested in shares in the Company by said member or granted accordingly on the basis of shares. Executive Board compensation does not provide for any shares to be granted.
Granting part of Executive Board compensation in shares is associated with considerable additional administrative work, as well as extra costs for acquiring the shares. In addition to this, share-based compensation harbours the risk that short-term price gains might be prioritised over long-term stability. From MLP's perspective, these disadvantages are not offset by any adequate advantages. Stipulations applying to the members of the Executive Board regarding what specific form variable compensation is to take after being granted are not deemed necessary.
For this reason, no shares or share options were granted to the members of the Executive Board for the financial year 2024. As a general rule, each individual member of the Executive Board can determine this independently. However, any member of the Executive Board is obviously free to invest any compensation received in MLP shares. This is utilised as follows:
Shares held by the Executive Board (as of: December 31, 2024)
| Member of the Executive Board | Number of shares | Percentage of share capital |
|---|---|---|
| Dr Uwe Schroeder-Wildberg | 2,386,321 | 2.18% |
| Reinhard Loose | 25,000 | 0.02% |
| Manfred Bauer | 11,254 | 0.01% |
| Total | 2,422,575 | 2.22% |
7) Withheld or reclaimed variable portions of compensation
Variable portions of compensation were not withheld or reclaimed for any members of the Executive Board in the financial year 2024.
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8) Compliance with the defined maximum compensation
The calculated compensation did not reach the specified maximum compensation for any member of the Executive Board. The stipulated maximum compensation in the financial year 2024 was therefore observed for all members of the Executive Board without the need for a cap.
| All figures in €'000 | Total compensation 2024 | Defined maximum compensation |
|---|---|---|
| Dr Uwe Schroeder-Wildberg | 2,203 | 2,700 |
| Manfred Bauer | 1,361 | 1,800 |
| Reinhard Loose | 1,398 | 1,800 |
Total compensation in proportion of maximum compensation
9) Disclosures on benefits based on § 162 (2) of the German Stock Corporation Act (AktG)
Active members of the Executive Board
In the financial year 2024, no member of the Executive Board was promised or granted benefits by a third party with regard to their work as a member of the Executive Board.
In the financial year 2024, no members of the Executive Board terminated their employment. As such, no benefits associated with the regular or premature termination of the employment of a member of the Executive Board were either promised or granted during the course of the financial year 2024. Existing commitments were not changed.
The defined benefit obligation in accordance with IFRS for Dr. Schroeder-Wildberg in the event of the regular termination of his position on the Executive Board due to age was €6,507 thsd as of December 31, 2024. After netting with the assets of the reinsurance policy, the pension provision is €6,935 thsd.
Former members of the Executive Board
In total, five (5) former members of the Executive Board received pensions of €1,122 thsd from MLP SE in the financial year 2024. Payments of €263 thsd were made from the assets of the reinsurance policies. As of December 31, 2024, pension provisions for former members of the
Executive Board (present value of defined benefit obligations in accordance with IFRS less reinsurance assets) of €9,725 thsd were in place.
VI. Compensation of members of the Supervisory Board
In addition to compensation for their expenses for the financial year, the members of the Supervisory Board receive a fixed annual compensation of €50 thsd in accordance with the Articles of Association. The Chair of the Supervisory Board receives double this amount, while their deputy receives one and a half times this amount.
Additional, special compensation is granted for work on the Risk and Audit Committee, Compensation Oversight Committee and Nomination Committee. In the case of the Risk and Audit Committee, this is €25 thsd, while it is €15 thsd each for the Compensation Oversight Committee and Nomination Committee. The chair of the respective committee receives twice the stated level of compensation.
The fixed portion of compensation is paid after the end of the financial year. No member of the Supervisory Board receives any variable or share-based compensation components.
Individualised Supervisory Board compensation
| All figures in €'000 (without VAT) | Compensation 2024 | Compensation 2023 |
|---|---|---|
| Sarah Rössler (Chairwoman) 1 | 185 | 146 |
| Dr Andreas Freiling (Vice Chairman) 2 | 140 | 71 |
| Ursula Blümer 2 | 75 | 38 |
| Bernd Groß 2 | 65 | 33 |
| Matthias Lautenschläger | 105 | 105 |
| Monika Stumpf | 80 | 80 |
| Dr Peter Lütke-Bornefeld (Chairman) 3 | - | 91 |
| Dr Claus-Michael Dill (Vice Chairman) 3 | - | 69 |
| Alexander Beer 3 | - | 37 |
| Total | 650 | 670 |
1 as of June 29, 2023 in the role of "Chair of the Supervisory Board"
2 as of June 29, 2023
3 until June 29, 2023
In the financial year 2024, €16 thsd (previous year: €28 thsd) was paid as compensation for expenses.
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