11 Transactions with related companies and persons

11.1 Compensation paid to members of the Board of Directors and to members of the Group Executive Board

The amounts listed for fixed and variable compensation also include any employer contributions to statutory or regulatory social security schemes.

The short-term variable compensation in shares of the Board of Directors consists of the following items:

• TCHF 147 (2020: TCHF 147) in 4 years restricted shares
• TCHF 98 (2020: TCHF 50) in 3 years blocked and discounted shares from participation program (monetary benefit)

The short-term variable compensation in shares of the Group Executive Board consists of the following items:

• TCHF 318 (2020: TCHF 318) in 4 years restricted shares
• TCHF 592 (2020: TCHF 730) in 4 years restricted shares with one-year service period and right of redemption (taking into account the service/vesting period in accordance with IFRS 2)
• TCHF 165 (2020: TCHF 168) in 3 years blocked and discounted shares from participation program (monetary benefit)

Members of the Group Executive Board partially participate in an employee stock ownership plan in connection with the asset management mandate of BB Biotech AG. Within the scope of these plans, some of the members of the Group Executive Board are entitled to receive a maximum number of shares in BB Biotech AG. The actual number of shares awarded depends on various conditions. Awarded shares are subject to a three-year vesting period beginning on the date of grant. In addition, the actual number of shares distributed will depend on the achievement of certain performance targets over the subsequent three fiscal years in connection with the respective investment mandates. The cost of this employee program is recognized as long-term variable compensation.

In the financial years 2021 and 2020, no compensation was paid to related parties of members of the Board of Directors and Group Executive Board, nor to former members of the Board of Directors.

For the months of January and February 2020 (2019: March to December), CHF 50,000 (2019: CHF 250,000) was paid to Daniel Koller, the former CFO of the Company and a member of the Group Executive Group, as compensation for a one-year non-competition clause, in accordance with Art. 33 para. 4 of the Articles of Association. This compensation was agreed in a severance and release agreement. Daniel Koller left Bellevue Group as of February 28, 2019.

11.2 Transactions with related companies and persons

¹⁾ Key management personnel: Board of Directors and Group Executive Board (excluding major shareholders).
²⁾ Major shareholders: see Corporate Governance, section Group structure and shareholders.
³⁾ Other closely related companies and persons: This includes all other natural persons and legal entities that have close personal, economic, legal or de facto ties with members of the Board of Directors or the Group Executive Board.

Since the sale of the subsidiary Bank am Bellevue AG in the first half of 2020, there were neither receivables nor liabilities to related parties as at December 31, 2021 and 2020. 

In 2021, there was no payment to a related company of one of the members of the Board of Directors for consultancy services (2020: CHF 0.1 million).