Variable remuneration

KEEP employee share option programme

As at 31 March 2015, KION Group employees held options on a total of 29,080 no-par-value shares (31 December 2014: 29,116). The total number of bonus shares granted therefore declined by 36 forfeited bonus shares in the first quarter of 2015. A pro-rata expense of €0.1 million for three months was recognised for bonus shares under functional costs in the first quarter of 2015 (Q1 2014: €0.0 million).

KION performance share plan (PSP) for managers

In March 2015, a further long-term, variable remuneration component (the KION Long-Term Incentive Plan for Top Management 2015) with a defined period (three years) was introduced retrospectively from 1 January 2015 for the managers in the KION Group. At the beginning of the performance period on 1 January 2015, the managers were allocated a total of 0.2 million virtual shares for this tranche with a specific fair value. The allocation was based on a particular percentage of each manager’s individual gross annual remuneration at the time of grant.

The total carrying amount for liabilities in connection with share-based remuneration as at 31 March 2015 was €2.9 million (31 December 2014: €1.6 million). Of this amount, €2.4 million related to the 2014 tranche (31 December 2014: 1.6 million) and €0.5 million to the 2015 tranche.

KION performance share plan (PSP) for the Executive Board

As part of the KION GROUP AG performance share plan, the Executive Board members are allocated virtual shares over a fixed period (two-and-a-half years for the 2013 tranche and three years for all subsequent tranches). At the beginning of the performance period on 1 January 2015, the Executive Board members were allocated a total of 0.2 million virtual shares for this tranche with a specific fair value. The shares were allocated on the basis of an allocation value in euros specified in each Executive Board member’s service contract.

The total carrying amount for liabilities in connection with share-based remuneration as at 31 March 2015 was €9.4 million (31 December 2014: €6.1 million). Of this amount, €6.2 million related to the 2013 tranche (31 December 2014: 4.4 million), €2.7 million to the 2014 tranche (31 December 2014: €1.7 million) and €0.5 million to the 2015 tranche.