Executive Committee: information

General task: the Executive Committee of KBC Group has autonomous powers for managing the Group in line with the general strategy set by the Board of Directors.

• Members: 7
• Age limit: Belgian legal retirement age
• Appointments: members of the Executive Committee are appointed by the Board of Directors and may become Managing Directors.
• Meetings: generally once a week.
• Resolutions: resolutions are passed by consensus. The Executive Committee divides its duties up amongst its members, but this does not detract from their collective responsibility

• See annual report

• The total amount of annual variable remuneration (i.e. both the result-related and individual components) for members of the Executive Committee is paid over a period of six years, with 40% being paid in the first year and the rest spread equally over the next five years.
• Payment of these deferred amounts is subject to clawback provisions.
• Of the total annual variable remuneration, 50% is awarded in the form of equity-related instruments called phantom stocks, the value of which is linked to the price of the KBC Group NV share (though not in the Czech Republic, where a specific non-cash instrument is used whose value changes in lockstep with ČSOB’s results and the underlying factors determining the value of the phantom stocks). These stocks must be retained for one year after being allocated. The period over which they are allocated is also six years. The average price of the KBC share during the first three months of the year is used to calculate the number of phantom stocks to which each member of the EC is entitled. These stocks are then converted into cash a year later on the basis of the average price of the KBC share during the first three months of that year. They are subject to the allocation and acquisition conditions described under ‘Clawback provisions’ in the annual report.
• Number of phantom stocks of each EC-member; see annual report, under Corporate Governance Statement.