Compensation of Members of the Supervisory Board
The currently applicable provisions on the Supervisory Board’s compensation are set out in Section 17 of the Articles of Association of Siemens AG. They date back to a resolution adopted by the Annual Shareholders’ Meeting on January 25, 2011; the only amendment to them was adopted by the Annual Shareholders’ Meeting on January 28, 2014, in relation to the compensation for the Compensation Committee that was newly established at the time.
In accordance with Section 113 (3) of the German Stock Corporation Act (AktG), the Annual Shareholders’ Meeting on February 3, 2021, adopted a resolution on the compensation of members of the Supervisory Board and on an amendment of Section 17 of the Articles of Association. The system of Supervisory Board compensation and proposed amendment to Section 17 of the Articles of Association presented to the Annual Shareholders’ Meeting were adopted by a majority of 97.5% of the valid votes cast. The provisions of the amended Section 17 of the Articles of Association shall apply as from October 1, 2021, and shall replace the existing provisions on Supervisory Board compensation in the Articles of Association as of that date.
The adopted compensation system can be found in Agenda Item 7 a) and the adopted amendment to Section 17 of the Articles of Association in Agenda Item 7 b) in the Notice of Annual Shareholders’ Meeting 2021. The voting results at the Annual Shareholders’ Meeting 2021 can be found here.