43 Remuneration of the Board of Management and the Supervisory Board
The disclosure of the total remuneration of current and former members of the Board of Management and the Supervisory Board of Deutsche Telekom AG is made in accordance with the provisions of § 314 (1) No. 6 of the German Commercial Code (Handelsgesetzbuch – HGB).
Board of Management remuneration for the 2021 financial year
Total remuneration of the members of the Board of Management for the 2021 financial year amounted to EUR 36.8 million (2020: EUR 24.1 million). This includes a total of 235,696 entitlements to matching shares with a fair value of EUR 3.0 million on the grant date (2020: EUR 2.5 million). Since 2021, the members of the Board of Management participate in a share price-based Long-Term Incentive Plan (LTI), under which entitlements were granted to a pool of 517,260 phantom shares with a fair value of EUR 8.8 million.
Former members of the Board of Management
A total of EUR 10.6 million (2020: EUR 8.5 million) was included for payments to and entitlements for former members of the Board of Management as well as any surviving dependents. Provisions (measured in accordance with IAS 19) totaling EUR 210.2 million (2020: EUR 223.9 million) were recognized for current pensions and vested rights to pensions for this group of persons and their surviving dependents.
Supervisory Board remuneration for the 2021 financial year
Total remuneration of the members of the Supervisory Board for 2021 amounted to EUR 2.8 million (plus VAT) (2020: EUR 3.0 million (plus VAT)) and is comprised of fixed annual remuneration plus meeting attendance fees.
The Company has not granted any advances or loans to current or former Board of Management members or to current or former Supervisory Board members, nor were any other financial obligations to the benefit of this group of people entered into.
Detailed information on the remuneration of the Board of Management and the Supervisory Board is published in the separate remuneration report.