Annual Report
20251
MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
Compensation Report 2025MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
Compensation report
96Compensation Committee 97
Compensation system 97
Additional contractual elements 100
Activities at other companies 101
Compensation for the members of the Board of Directors and Group Management Board (KL/EKL) 103
MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
COMPENSATION REPORT
With the Compensation Report, the Board of Directors and the Compensation Committee give an account of the material elements of the compensation principles, of the tasks and competences in the field of compensation, of the composition and function of the Compensation Committee, and of the various compensation elements.
The Report fulfils the requirements of Articles 734a-f of the Swiss Code of Obligations (OR) and the Guidelines on Corporate Governance issued by SIX Swiss Exchange Regulation AG.
The following chapters were audited by PricewaterhouseCoopers AG: 2.3.5 Participation rights and options on such rights, 4. Activities at other companies, 5. Compensation for the members of the Board of Directors and the Group Management Board (KL/EKL).
Compensation Committee
Composition of the Compensation Committee
As the Board of Directors of the Swatch Group is intentionally kept small in number (currently 7 members), it functions at the same time as the Compensation Committee. This eliminates the need for demarcating the areas of responsibility and ensuring the flow of information.
The Compensation Committee is chaired by Mr Ernst Tanner, Vice-Chairman of the Board of Directors.
All members of the Board of Directors abstain from discussions and decisions regarding their compensation and that of persons closely related to them (such as family members).
No members having any cross-involvement belong to the Compensation Committee, such that no conflicts of interest arise from this point of view as well.
Tasks / Competences
The Compensation Committee handles the compensation policy of the company. It assists the Board of Directors in determining the compensation system and the principles of compensation, and in the preparation of motions to the Annual General Meeting for approving compensation. The Compensation Committee may submit proposals and recommendations to the Board of Directors in all matters pertaining to compensation.
According to the Articles of Association of the Swatch Group, the Compensation Committee attends to all issues related to compensation, and proposes solutions for the attention of the Board of Directors. The decision-making body is the Board of Directors. The Board of Directors will submit the necessary resolutions to the Annual General Meeting for its approval.
At the Annual General Meeting of the year under review, the fixed remuneration for members of the Board of Directors until the next annual general meeting, as well as the fixed remuneration for the year under review and the variable remuneration for the previous year for executive functions for members of the Board of Directors was voted upon. In addition, fixed remuneration for members of the Management Board and the Extended Management Board for the year under review, as well as variable remuneration for the previous year was voted upon.
Meetings
The Compensation Committee met twice during the year under review.
Compensation system
General principles of compensation
The members of the Board of Directors and the Executive Management are entitled to compensation corresponding to their job function and degree of responsibility.
The company may award compensation for activities in entities that are directly or indirectly controlled by the company and for activities at the order of the undertaking. The compensation may be awarded by the company or by the companies that it controls.
The compensation of the non-executive members of the Board of Directors comprises only fixed compensation elements.
MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
COMPENSATION REPORT
The compensation of executive members of the Board of Directors and the members of the Executive Management comprises fixed and variable compensation elements. The fixed compensation comprises base salary and may include additional compensation elements. The variable compensation is guided by the achievement of defined performance objectives.
The performance objectives may include personal goals, company-specific and division-specific objectives, along with key economic or market-related figures. In doing so, the function and the level of responsibility of the recipient of the variable compensation are taken into account.
At the request of the Compensation Committee, the Board of Directors sets the performance values and objectives of the variable compensation elements and their achievement.
The compensation system of the Swatch Group is in line with market conditions and based on performance. It is reviewed on an annual basis and adjusted when necessary.
Compensation elements
Non-executive members of the Board of Directors
The non-executive members of the Board of Directors receive fixed compensation. It is graduated according to functions.
Executive members of the Board of Directors, members of the Executive and Extended Group Management Board
The compensation system for the executive members of the Board of Directors and the members of the Executive and Extended Group Management Board provides for the following elements:
a base salary;
an expense allowance;
a bonus program with variable compensation;
a share program with annual share allocations and a minimal guaranteed value;
payments to the pension fund (Swatch Group Pension Fund) and to the Management Fund of the Swatch Group.
Information on individual elements
Base salary
The base salary is usually paid out monthly in 13 equal instalments. The 13th instalment is paid each year in December. The degree of responsibility and the position are taken into account in the base salary.
Expense allowance
Members of the Board of Directors and the Executive Group Management Board receive an expense allowance of CHF 30 000; members of the Extended Group Management Board receive up to CHF 24 000. This expense allowance covers representation and small expenses, and was approved by the tax authority of the Canton of Bern. Executive members of the Board of Directors who at the same time belong to the Executive Management receive the expense allowance only once.
Bonus programs
The executive members of the Board of Directors, of the Executive Group Management Board and of the Extended Group Management Board annually receive a variable bonus, which depends on the development of the Group and the business division entrusted to the respective person (brands, countries, functional area) as well as individual performance.
At the start of the year, a so-called bonus potential is defined, which is paid out if the objectives are achieved. If the objectives are surpassed, more than 100% of the bonus potential can be paid. If individual objectives are not achieved, a proportionate reduction can be made. The bonus is determined and paid out at the start of the following year, once the financial statements are available. A recipient with a Swiss contract and residence in Switzerland receives an advance payment in December. This is usually 70% of the bonus potential, provided that the set objectives (sales, operating income, etc.) will foreseeably be achieved; if not, a payment of 50% will be made.
The assessment criteria that apply are, among other things: sales development, development of operating income, changes in market share, development of inventory and receivables, accomplishment of development and set-up projects, success in negotiations, successful implementation of cost reduction programs, personnel fluctuation, motivation of employees and sustainability indicators (ESG). The assessment criteria are individually tailored to the function holders and weighted accordingly.
For the particular promotion of the Group's interests, a part of the bonus is awarded as a Group bonus. The percentage share of the Group component varies according to function.
MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
COMPENSATION REPORT
Share program
On an annual basis, a number of registered shares with a low exercise price are offered to the executive members of the Board of Directors and the members of the Executive Group Management Board and the Extended Group Management Board. In the year under review and the previous year, this amounted to CHF 4.00 per share. One-third of the allocation may be exercised and subscribed immediately. In one and two years respectively, an additional one-third may be exercised and subscribed. Once exercised, the shares may be freely disposed of. Optionally these can be subject to a blocking period of either 5 or 10 years. In the event of an early departure, the allocations for non-exercised options expire; upon retirement, they are immediately available.
The allocation of the share subscription rights takes place through the Board of Directors after the Annual General Meeting. A certain minimum allocation value was contractually guaranteed to the executive members of the Board of Directors and the members of the Executive Group Management Board and the Extended Group Management Board. For executive members of the Board of Directors and members of the Executive Group Management Board, this amounted to CHF 50 000; for members of the Extended Group Management Board, this generally amounted to CHF 25 000 per year (allocation value = share price minus CHF 4.00 exercise price).
The calculation basis for payment of allotted shares and options is the day value at grant date. The day value corresponds to the share price on the grant date, respectively the last trading day before the grant date, less the exercise price. The following values were in force for the year under review and the previous year:
2025 2024
Grant date
10.06.2025
12.06.2024
Share price on grant date
CHF
28.84
37.30
Exercise price
CHF
4.00
4.00
Day value on grant date
CHF
24.84
33.30
Participation rights and options on such rights
The following table details the shares and options held by members of the Board of Directors and Group Management, including closely related persons at the end of year under review and of the previous year, in accordance with the provisions of Article 734d CO.
Registered Shares Bearer shares Options
Name Function 2025
2024
2025 2024 2025
2024
Community of heirs Marianne and Nicolas G. Hayek, represented by Nayla Hayek
58 001 153
57 620 264
1 010 873
818 167
Nayla Hayek BoD Chairwoman
Ernst Tanner BoD Vice-Chairman
308 208
288 208
2 000
2 000
20 002
20 002
Daniela Aeschlimann BoD Member
Nick Hayek BoD Member / CEO
282 991
263 991
24 000
24 000
Marc A. Hayek BoD / MB Member
243 899
227 899
140
140
16 001
16 001
Claude Nicollier BoD Member
100
100
Jean-Pierre Roth BoD Member
Raynald Aeschlimann MB Member
76 867
66 867
10
10
10 001
10 001
Pierre-André Bühler MB Member
36 716
31 216
8 002
8 002
Damiano Casafina MB Member
5 120
286
6 000
4 834
Sylvain Dolla MB Member
9 334
4 166
6 000
5 168
Thierry Kenel MB Member / CFO
140 253
130 253
10 001
10 001
Florence Ollivier-Lamarque MB Member
71 998
66 998
5 002
5 002
François Thiébaud 1) MB Member
217 550
Lionel a Marca EMB Member
186
1 786
1 301
1 301
Matthias Breschan EMB Member
284
3 534
3 000
3 000
Stephen DeLucchi EMB Member
1 825
975
1 200
850
Daniel Everts EMB Member
5 000
4 250
750
750
Fadi Ghalayini EMB Member
9 068
6 234
3 000
2 834
Mireille Koenig EMB Member
8 620
7 420
1 200
1 200
Calogero Polizzi EMB Member
3 699
20 599
3 101
3 101
Alain Villard 2) EMB Member
3 561
1 034
Roland von Keith EMB Member
2 954
2 954
1 200
968
Michel Willemin EMB Member
15 399
13 199
2 201
2 201
Total
59 223 674
58 982 310
1 013 023
820 317
121 962
120 250
1) until 31.01.2025 2) until 30.09.2025
MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
COMPENSATION REPORT
Each option gives the right to draw one registered share. Each share (registered or bearer) represents one voting right. The principal shareholders are disclosed in Note 29 of the consolidated financial statements. As in the previous year, except for the community of heirs of Marianne and Nicolas G. Hayek, no member of the Board of Directors, the Executive Group Management Board and the Extended Group Management Board, together with persons closely linked to them, owned as of the end of the year under review, either directly or through share options, more than 1% of the outstanding Swatch Group shares.
Pension Fund / Management Fund
The executive members of the Board of Directors and the members of the Executive Group Management Board and of the Extended Group Management Board respectively, are insured by the Swatch Group Pension Fund (Pensionskasse Swatch Group) and the Swatch Group Management Fund (Caisse de pensions des cadres Swatch Group).
The Swatch Group Pension Fund insures incomes of up to CHF 320 000. The Management Fund covers income components between CHF 320 000 and CHF 907 000. The Management Fund provides for contributions of 10% of which 75% are assumed by the employer.
Additional contractual elements
Term and termination periods of employment contracts
All employment contracts of the Executive Group Management Board and of the Extended Group Management Board are concluded for an indefinite term. They may be terminated by either party with a notice period of six months as per the end of a month.
Payment of salaries
Salaries are paid on a monthly basis. No advance payments are made, either for the current month or for longer periods. The same applies to compensation within the framework of mandate relationships.
Compensation upon commencement of the employment relationship
Swatch Group does not pay any compensation upon the conclusion of an employment contract or upon the start of work ("golden hellos"/"golden handshakes").
Moreover, no compensation is provided to settle share options or other financial benefits of a prior employer that were rendered void through the job change.
Loans and credits to members of governing bodies
The company or companies controlled by it may grant loans and credits to executive members of the Board of Directors and the Group Management Board on market terms. Such loans and credits may not exceed the amount of the fixed annual compensation of the person concerned. The fixed annual compensation of the previous year shall be taken as the basis for the grant of credit or loan (Article 41 of the Articles of Association).
In addition, just like all employees of the Swatch Group in Switzerland, the executive members of the Board of Directors and the members of the Executive Group Management Board and of the Extended Group Management Board respectively, have the option of taking out a mortgage loan with the Swatch Group Pension Fund to finance the purchase of real estate in Switzerland. The applicable conditions are the same as those that apply to all employees of the Swiss Swatch Group companies (lending limit, interest rate, etc.).
Membership in governing bodies of Group companies
It regularly occurs that executive members of the Board of Directors and members of the Executive Group Management Board and of the Extended Group Management Board sit on governing bodies of subsidiaries, both in Switzerland and abroad (as board members, members of supervisory boards, members of advisory boards, or as managers). No additional compensation is awarded for such tasks and functions, either by the Swatch Group or by the relevant Group company.
Severance payments
The employment contracts of the members of the Executive Group Management Board or the Extended Group Management Board do not provide for severance payments or any payments whatsoever upon termination of the employment relationship. In addition, no payments ("golden parachutes", etc.) are provided in the event of a change of control.
Mandates with former members of the Executive Group Management Board or the Extended Group Management Board
It may occur that members of the Executive Group Management Board and the Extended Group Management Board who have resigned from their functions are employed on a mandate basis by the Group from time to time. In all such cases, clear written mandate contracts are concluded; these must be approved by the President of the Executive Group Management Board. Such mandate contracts contain the same restrictive conditions as employment contracts (contractual term, payments, etc.).
MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
COMPENSATION REPORT
Activities at other companies
Pursuant to the requirements of Article 734e CO, the following table shows the functions of the members of the Board of Directors, the Executive Group Management Board and the Extended Group Management Board at other companies with an economic purpose (status: 31.12.2025). Functions in Group companies do not have to be disclosed; this also applies to mandates with charitable, cultural, religious or sporting organizations or purely private real estate companies.
Name Company Function
Nayla Hayek Wat Holding Ltd Chairwoman
Hayek Holding Ltd Chairwoman
Hayek Engineering Ltd Chairwoman
Hayek Immobilien Ltd Chairwoman
Hayek Management Ltd Chairwoman
Manhag Ltd Chairwoman
Sole proprietorship Expohof Naila Hayek Owner
TTI Immobilien SA Member of the Board of Directors
Ernst Tanner Chocoladefabriken Lindt & Sprüngli Ltd Chairman
Finanzierungsstiftung für die Vorsorgeeinrichtungen der Chocoladefabriken Lindt & Sprüngli AG
Fonds für Pensionsergänzungen der Chocoladefabriken Lindt & Sprüngli AG
Chairman Chairman
Lindt Chocolate Competence Foundation Chairman
Lindt Cocoa Foundation Chairman
Krombacher Brauerei GmbH & Co. KG, Germany Member of the Supervisory Board
Daniela Aeschlimann AFC Beteiligungen AG Member of the Board of Directors AFC Handel AG Vice Chairwoman
Aktiengesellschaft Bären Langenthal Chairwoman
Arthur und Emma Ammann-Stiftung Vice Chairwoman
Avesco AG Vice Chairwoman
Futurjns AG Member of the Board of Directors
Hotel Alpenland AG Member of the Board of Directors
Madisa AG Member of the Board of Directors
Pensionskasse der AMMANN-Unternehmungen Vice Chairwoman Swiss Volley President
Nick Hayek Wat Holding Ltd Member of the Board of Directors
Hayek Holding Ltd Member of the Board of Directors
Hayek Engineering Ltd Member of the Board of Directors
Hayek Immobilien Ltd Member of the Board of Directors
Hayek Management Ltd Member of the Board of Directors
Manhag Ltd Member of the Board of Directors
Border X LLC Shareholder and CEO
CSEM Swiss Center for Electronics and Microtechnology Inc. - Research and Development
Member of the Board of Directors
Marc A. Hayek Wat Holding Ltd Member of the Board of Directors
Hayek Holding Ltd Member of the Board of Directors
Hayek Engineering Ltd Member of the Board of Directors
Hayek Immobilien Ltd Member of the Board of Directors
Hayek Management Ltd Member of the Board of Directors
Manhag Ltd Member of the Board of Directors
Claude Nicollier Fondation du Musée de l'Aviation Militaire de Payerne Member of the Foundation Board
MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
COMPENSATION REPORT
Name Company Function
Jean-Pierre Roth MKS PAMP Group (UK) Chairman Arab Bank (Switzerland) Ltd Vice Chairman
Stiftung der Päpstlichen Schweizergarde im Vatikan Member of the Foundation Board
Stiftung für die Renovation der Kaserne der päpstlichen Chairman Schweizergarde im Vatikan
Raynald Aeschlimann Fondation Gaston-F. Barras - European Masters Member of the Foundation Board Fondation Un Grand Sourire Chairman
Federation of the Swiss Watch Industry FH Member of the Executive Board
Un Grand Sourire Sàrl Vice Chairman of the Management Board
Pierre-André Bühler CSEM Swiss Center for Electronics and Microtechnology
Inc. - Research and Development
Fondation en faveur d'un laboratoire de recherches horlogères
Member of the Board of Directors Member of the Foundation Board
Federation of the Swiss Watch Industry FH Member of the Executive Board
Sylvain Dolla CSEM Swiss Center for Electronics and Microtechnology
Inc. - Research and Development
Fondation en faveur d'un laboratoire de recherches horlogères
Member of the Board of Directors Member of the Foundation Board
Thierry Kenel economiesuisse Vice President of the Board Committee and Quaestor
Federation of the Swiss Watch Industry FH Vice President of the Executive Board Convention Patronale de l'industrie horlogère suisse Delegate of Swatch Group Industries
Florence Ollivier-Lamarque Comité Colbert, France Member of the Board Fédération de l'Horlogerie, France Vice President
Matthias Breschan Federation of the Swiss Watch Industry FH Member of the Executive Board Daniel Everts Convention Patronale de l'industrie horlogère suisse Delegate of Swatch Group Industries
Schweizerischer Arbeitgeberverband Member of the Executive Board
Mireille Koenig Aaraucar Ltd Member of the Board of Directors Michel Willemin Swiss Academy of Engineering Sciences (SATW) Member
As at 31 December 2025, the following members of the Board of Directors, the Group Executive Board and the Extended Group Executive Board did not disclose any third-party mandates: Lionel a Marca, Damiano Casafina, Stephen DeLucchi, Fadi Ghalayini, Calogero Polizzi, Roland von Keith.
MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
COMPENSATION REPORT
Compensation for the members of the Board of Directors and Group Management Board (KL/EKL)
Board of Directors (BoD)
2025 Compensation Compensation for executive functions Total 6)
for functions
in the BoD 1)
Base compensation 2)
Bonus 3) Share
options 4)
Other compensation 5)
Chairwoman
Vice-Chairman Member Member Member Member Member
1 002 348 1 140 000
496 800
1 002 348 1 140 000 496 800
194 731
143 104
136 838
135 597
135 683
134 656
134 656
1 015 265
204 910
3 038 789
7 535
150 639
9 534
146 372
8 262
143 859
9 252
144 935
6 874
141 530
6 874
141 530
253 241
3 907 654
Name Function (CHF) (CHF) (CHF) (CHF) (CHF) (CHF)
Nayla Hayek Ernst Tanner
Daniela Aeschlimann Nick Hayek 7)
Marc A. Hayek 9) Claude Nicollier
Jean-Pierre Roth
Total
2024 Compensation Compensation for executive functions Total 6)
for functions
in the BoD 1)
Base compensation 2)
Bonus 3) Share
options 4)
Other compensation 5)
Name Function (CHF) (CHF) (CHF) (CHF) (CHF) (CHF)
Nayla Hayek
Chairwoman
209 690
1 002 108
1 140 000
666 000
220 382
3 238 180
Ernst Tanner
Vice-Chairman
152 784
8 214
160 998
Daniela Aeschlimann
Member
145 741
10 243
155 984
Nick Hayek 7)
Member
144 397
8 866
153 263
Marc A. Hayek 8) 9)
Membre
79 137
5 350
84 487
Claude Nicollier
Member
143 456
7 491
150 947
Jean-Pierre Roth
Member 143 456
7 491
150 947
Total
1 018 661
1 002 108 1 140 000 666 000 268 037
4 094 806
Total annual compensation allocated on a cash or accrual basis, not including any reimbursement for travel and other business expenses incurred. The compensation contains an amount of CHF 20 000 for functions in the Compensation Committee and the Audit Committee (previous year:
CHF 20 000) as well as expense allowance payments in the amount of CHF 30 000 per year.
Total annual compensation allocated on a cash or accrual basis, not including any reimbursement for travel and other business expenses incurred.
Bonus payments allocated on a cash or accrual basis.
In the year under review and the previous year, Mrs Nayla Hayek was allocated 20 000 share options. The calculation basis for share options is the day value at grant date (see Section 2.3.4). In the year under review, this corresponded to a value of CHF 24.84 per option (previous year: CHF 33.30 per option). The valuation of the share options at prior-year value would therefore result in an unchanged value of CHF 666 000.
As in the previous year, other compensation includes no pension benefits. The remaining social benefits (employer's contributions) amounted to CHF 253 241 (previous year: CHF 268 037). In the year under review, no long-term service awards were paid out (previous year: none).
All amounts are gross amounts (i.e., before deduction of the social insurance contributions to be taken on by the employee).
The compensation for the executive function is set forth in paragraph b. of this chapter.
Appointment at the Annual General Meeting on 8 May 2024. The compensation for functions on the BoD relates to the period from June to December 2024.
The compensation for executive function is included in paragraph b. of this section under "Total other members"
MESSAGE FROM THE CHAIR
OPERATIONAL ORGANIZATION
ORGANIZATION
AND DISTRIBUTION IN THE WORLD
ORGANS OF
SWATCH GROUP
MANAGEMENT REPORT AND ANNUAL REVIEW
SUSTAINABILITY
CORPORATE GOVERNANCE
FINANCIAL STATEMENTS
2025
COMPENSATION REPORT
2025
COMPENSATION REPORT
Executive Group Management Board (KL) and Extended Group Management Board (EKL)
2025 Base com-
pensation 1)
Bonus 2) Share
options 3)
Share options 3)
Other compensation 4)
Total 5)
Georges Nicolas Hayek (MB President / CEO)
Total other members
Total
(CHF) (CHF) (number) (CHF) (CHF) (CHF)
1 502 345
2 261 000
24 000
596 160
347 092
4 706 597
5 485 544
6 556 125
79 150
1 966 086
1 906 662
15 914 417
6 987 889
8 817 125
103 150
2 562 246
2 253 754
20 621 014
The calculation basis for share options is the day value at grant date (see Section 2.3.4). In the year under review, this corresponded to a value of CHF 24.84 per option (previous year: CHF 33.30 per option). The valuation of the share options at prior-year value would result in a total value of CHF 3 434 895 (-13.4% compared to the previous year's value of CHF 3 967 695).
2024
Base com-
Bonus 2)
Share
Share
Other com-
Total 5)
pensation 1)
options 3)
options 3)
pensation 4)
(CHF) (CHF) (number) (CHF) (CHF) (CHF)
Georges Nicolas Hayek
(MB President / CEO) 1 502 105 2 261 000 24 000 799 200 417 002 4 979 307
Total other members 5 481 385 7 202 941 95 150 3 168 495 1 998 599 17 851 420
Total 6 983 490 9 463 941 119 150 3 967 695 2 415 601 22 830 727
Total annual base compensation allocated on a cash or accrual basis, including expense allowance payments, but not including any reimbursement for travel and other business expenses incurred.
Variable bonus payments allocated on a cash or accrual basis.
The allocation and valuation of share options takes place in accordance with the conditions described in Section 2.3.4.
Other compensation includes pension benefits in the amount of CHF 624 301 (previous year: CHF 689 673). The remaining social benefits (employer's contributions) amounted to CHF 1 495 157 for the year under review (previous year: CHF 1 617 962). Other compensation also includes further benefits and long-term service awards in the amount of CHF 134 296 (previous year: CHF 107 966).
All amounts are gross amounts (i.e., before deduction of the social insurance contributions to be taken on by the employee).
The figures presented include all direct and indirect compensation. Mr Nick Hayek, as the CEO, received the highest compensation.
In the year under review, no payments were made to former members of the Executive Group Management Board and the Extended Group Management Board in connection with their past activities as members of the Company's governing bodies (previous year: none).
Loans and credits to the Board of Directors and the Group Management
In the year under review, as in the previous year, no loans or credits were granted to members of the Board of Directors, the Executive Group Management Board or the Extended Group Management Board. Moreover, no loans or credits at non-standard market rates were granted to former members of the Board of Directors, the Executive Group Management Board or the Extended Group Management Board, either in the year under review or the previous year. At the end of the year under review, as in the previous year, there were no credit or loans outstanding to (current or former) members of the Board of Directors, the Executive Group Management Board or the Extended Group Management Board.
Compensation, loans, and credits to closely related persons
In the year under review and the previous year, no non-market-based compensation was awarded to persons who are closely related to the members of the Board of Directors, the Executive Group Management Board or the Extended Group Management Board respectively. At the end of the year under review, as in the previous year, there were no credits or loans outstanding to persons related to active or former members of the Board of Directors or the Group Management or Extended Group Management.
Impermissible compensation
In the year under review and the previous year, the company did not award any severance payments to the members of the Board of Directors, the Executive Group Management Board or the Extended Group Management Board respectively. Likewise, in the year under review and the previous year, no compensation was paid in advance to members of the Board of Directors, the Executive Group Management Board or the Extended Group Management Board.
Mir+Ihr=Zäme Nous+Vous=Nous Tous Noi+Voi=Noi Tutti Nus+Vus=Ensemen
The Swatch Group LtdP.O. Box 1232, Seevorstadt 6
2501 Biel/Bienne, Switzerland
Phone: +41 32 343 68 11
https://www.swatchgroup.com/contactus