Variable remuneration

KEEP employee share option programme

As at 31 March 2016, KION Group employees held options on a total of 52,941 no-par-value shares (31 December 2015: 53,220). The total number of bonus shares granted therefore declined by 279 forfeited bonus shares in the first three months of 2016. A pro-rata expense of €0.1 million for three months was recognised for bonus shares under functional costs in the first quarter of 2016 (Q1 2015: €0.1 million).

KION performance share plan (PSP) for managers

In March 2016, the 2016 tranche of the long-term, variable remuneration component (the KION Long-Term Incentive Plan) with a defined period (three years) was introduced retrospectively from 1 January 2016 for the managers in the KION Group. At the beginning of the performance period on 1 January 2016, the managers were allocated a total of 0.1 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 2016 was €11.7 million (31 December 2015: €8.5 million). Of this amount, €7.3 million related to the 2014 tranche (31 December 2015: €5.7 million), €3.9 million to the 2015 tranche (31 December 2015: €2.7 million) and €0.5 million to the 2016 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 (three years). At the beginning of the performance period on 1 January 2016, the Executive Board members were allocated a total of 0.1 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 2016 was €20.5 million (31 December 2015: €17.8 million). Of this amount, €10.3 million related to the 2013 tranche (31 December 2015: €10.3 million), €6.6 million to the 2014 tranche (31 December 2015: €5.3 million), €3.1 million to the 2015 tranche (31 December 2015: €2.2 million) and €0.4 million to the 2016 tranche.