CHF million | 2025 | 2024 | ||
|---|---|---|---|---|
Wages and salaries | –481.2 | –499.1 | ||
Social security expenses | –125.8 | –131.9 | ||
Pension expenses for defined contribution plans | –6.3 | –6.3 | ||
Pension expenses for defined benefit plans | –4.8 | –4.1 | ||
Other personnel expenses | –75.6 | –74.6 | ||
Total | –693.6 | –716.1 |
Autoneum started a long-term incentive plan (LTI) for the management in 2012. Part of Autoneum’s net result is allocated to beneficiaries defined in advance by granting them shares of Autoneum Holding Ltd. The shares become property of the beneficiaries after a vesting period of 35 months, if the beneficiaries are then still employed by Autoneum. Immediate vesting occurs in case of death or retirement of the beneficiary. In case of employment termination, shares not yet vested lapse without compensation. Exceptions are possible at the discretion of the Nomination and Compensation Committee. Vesting occurs every year in March. Employee expenses resulting from sharebased compensation in the course of the LTI for the management are recognized over the vesting period. 12'003 shares (2024: 11'059 shares) were granted in 2025, and CHF 0.7 million expenses (2024: CHF 0.6 million) were recognized in wages and salaries.
In the reporting period, Autoneum started a revised LTI for the Group Executive Board. Under the revised LTI, the number of shares allocated to the beneficiaries is determined by applying a defined percentage of the annual gross base salary as the base value, while basic earnings per share serves as the performance condition measurement, incorporating a growth rate that reflects the expected long‑term development. The shares vest after a period of 35 months, if the beneficiaries are then still employed by Autoneum. In case of employment termination, shares not yet vested lapse without compensation. In cases of early retirement, retirement, permanent disability, or death, rights to shares may vest on a pro-rata basis. The Board of Directors retains discretion to apply alternative arrangements in individual cases. Vesting occurs every year in March. Employee expenses resulting from sharebased compensation in the course of the revised LTI for the Group Executive Board are recognized over the vesting period. 12'099 shares were granted in 2025, and CHF 0.4 million expenses were recognized in wages and salaries.
Members of the Board of Directors receive part of their remuneration in Autoneum shares. 8'889 shares (2024: 5'029 shares) valued at CHF 110.83 (2024: CHF 153.28) were granted in 2025, and expenses of CHF 1.0 million (2024: CHF 0.8 million) were recognized in wages and salaries.
Members of the Group Executive Board receive part of their fixed remuneration in Autoneum shares. 1'638 shares (2024: 13'905 shares) valued at a weighted average share price of CHF 122.18 (2024: CHF 122.49) were granted in 2025, and expenses of CHF 0.2 million (2024: CHF 1.7 million) were recognized in wages and salaries.