Shareholders' Letter
Shareholders' Letter
Shareholders' Letter
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11 Share-based payments<br />
In CHF million 2010 2009<br />
Share-based payments to the members of the Board of Directors 0.7 0.7<br />
Share-based payments to the members of the Group Executive Board 1.1 1.1<br />
Change in accrual for share-based payments<br />
to the members of the Group Executive Board 0.2 –<br />
Total expense of share-based payments 2.0 1.8<br />
Swisscom offers the members of the Group Executive Board and the Board of Directors sharebased<br />
payments in the form of the equity-share purchase plan “Management Incentive Plan”. The<br />
Management Incentive Plan is an equity-share plan for members of the Group Executive Board<br />
and Board of Directors. A part of the emoluments and of the variable earnings-related compensation<br />
of the Members of the Board of Directors and Group Executive Board, respectively, is settled<br />
in the form of Swisscom shares. The shares are allocated based on their tax values. The level of the<br />
earnings-related compensation and the number of shares allocated are determined in the subsequent<br />
business year once the financial statements are finalised. The shares allocated to the members<br />
of the Group Executive Board are based on the variable earnings-related compensation of the<br />
prior year as reported. The tax value per share amounts to CHF 328 (prior year: CHF 265). The shares<br />
are subject to a retention period of three years from the grant date. The shares are vested immediately<br />
upon delivery.<br />
The allocation and expense of share-based payments excluding the change in the accrual for sharebased<br />
payments payable to the members of the Group Executive Board may be analysed as follows:<br />
Number Market<br />
of allocated price Expense in<br />
Year of allocation 2010 shares in CHF CHF million<br />
Members of the Board of Directors 1,712 392 0.7<br />
Members of the Group Executive Board 1 2,767 392 1.1<br />
Total 2010 4,479 392 1.8<br />
1 Allocation for the fiscal year 2009.<br />
Number Market<br />
of allocated price Expense in<br />
Year of allocation 2009 shares in CHF CHF million<br />
Members of the Board of Directors 2,119 316 0.7<br />
Members of the Group Executive Board 1 3,254 316 1.1<br />
Total 2009 5,373 316 1.8<br />
1 Allocation for the fiscal year 2008.
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