B _ Corporate Governance The amounts for the annual bonus and LTI allocation reported here result from the achievement of the targets for the financial year. The following tables show the individual remuneration of the members The information therefore directly depicts the correlation between of the Board of Management who were active in the reporting year, remuneration and business development. for the 2021 and 2020 financial years. These compensation components correspond with the The table “Remuneration In The Financial Year” features the components in the column “Actual Grant” in previous remuneration remuneration awarded and due in accordance with § 162 (1) reports. sentence 1 AktG. It includes the payments made in the financial year Furthermore, the remuneration for the financial year is decisive for for base salary, perquisites, and other remuneration. For the variable reviewing the retention of the general payout cap of € 11,750 thou for remuneration, the components for performance fully rendered in the the Chairperson of the Board of Management and € 6,000 thou for a financial year are reported. This requirement is met in case the regular member. It is reviewed prior to the payout in 2026 and 2025 of applicable performance criteria are fulfilled and conditions the LTI tranches allocated for the financial year 2021 and 2020, and subsequent and suspensive have been met or have ceased to exist. For reported in the remuneration report for the respective financial year. the financial year 2021, this is the annual bonus that refers to the 2021 Furthermore, the pension expenses in the financial year are listed performance period and is paid out in March 2022. For the share- in both tables, even if these are not regarded as remuneration based renumeration, the payout of the RSU allocation of the Allianz awarded and due in accordance with § 162 AktG. Finally, in addition to Equity Incentive (AEI) for the financial year 2016, which vested in the the absolute amounts, the share of the individual remuneration financial year 2021, is reported. components relative to the total remuneration is stated. This interpretation of the awarding concept corresponds to the The information provided for by the Stock Corporation Act on definition of the payout in the remuneration reports of previous years. remuneration awarded and due to former members of the Board of The information in the table “Remuneration In The Financial Year” is Management is shown in a separate table for the sake of clarity. therefore consistent with the details in the column “Payout” in previous The following diagram presents the allocation of the remuneration reports. remuneration components in the two tables, using the financial year The additional table “Renumeration For The Financial Year” goes 2021 as an example: above and beyond the requirements of § 162 AktG. It includes the contributions to base salary and perquisites made in the respective financial year as well as the annual bonus for the respective financial year and the allocation amount of the share-based remuneration for the financial year. 44 Annual Report 2021 − Allianz Group