Cash incentive plans for members of the board of directors, Managing Directors and other Directors with strategic responsibility

For a description of the cash incentive plans please refer to paragraph 5 of the Remuneration Policy.

Pirelli’s variable incentive system provides that payment of 25% of any MBO accrued be deferred by 12 months and shall be subject to achievement of the MBO objectives for the following year. In particular: 

  • where no MBO accrues during the year following the accrual of the MBO, the proportion of MBO deferred from the previous year will be forfeited;
  • where the MBO accruing during the year following the accrual of the MBO reaches the eligibility threshold, the proportion of MBO deferred from the previous year will be paid; 
  • where the MBO accruing during the following year is between the target level and the maximum level, payment of an amount between 20% and 40% of the full MBO accrued during the previous year will be made in addition to the proportion of MBO deferred from the previous year, calculated on a linear scale according to results between the target and maximum amounts.  

Given name and surnameRolePlanAnnual bonusBonus in previous yearsOther bonuses
Payable/PaidDeferredDeferment periodNo longer payablePayable/PaidStill deferred
Marco Tronchetti Provera Chairman and CEO MBO 2014 1,846,500.00 615,500.00 - - - - 0.00
LTI Plan 2014-2016 0.00 0.00 - - - - 0.00
Alberto Pirelli Deputy Chairman (1)  MBO 2014 157,950.00 52,650.00 - - - - 0.00
LTI Plan 2014-2016 0.00 0.00 - - - - 0.00
Maurizio Boiocchi General Manager of Technology (2) MBO 2014 0.00 0.00 - - - - 0.00
LTI Plan 2014-2016 0.00 0.00 - - - - 0.00
Gregorio Borgo General Manager of Operations MBO 2014 387,000.00 129,000.00 - - - - 0.00
LTI Plan 2014-2016 0.00 0.00 - - - - 0.00
Executives with strategic responsibility (3)  MBO 2014 1,300,275.00 433,425.00 - - - - 0.00
LTI Plan 2014-2016 0.00 0.00 - - - - 0.00
(I) Remunerations within the company compiling the balance sheet MBO 2014 816,750.00 272,250.00 - - - - 0.00
LTI Plan 2014-2016 0.00 0.00 - - - - 0.00
(II) Remunerations from subsidiaries and associate companies MBO 2014 2,874,975.00 958,325.00 - - - - 0.00
LTI Plan 2014-2016 0.00 0.00 - - - - 0.00
(III) Total 3,691,725.00 1,230,575.00 - - - - 0.00

(1) Dr. Alberto Pirelli is included in the MBO and LTI variable incentive plans in his capacity as Senior Manager of Pirelli Tyre S.p.A.
(2) During 2014 Mr. Maurizio Boiocchi is included in the annual incentive plan (MBO) in his capacity as Chief Technical Officer (Director with strategic responsibility at Pirelli & C. S.p.A.).
(3) As at 31 December 2014 the following were directors with strategic responsibility: Mr. Giuliano Menassi, Dr. Maurizio Sala, Dr. Francesco Tanzi and Dr. Christian Vasino. Up to 4 August 2014 Mr. Maurizio Boiocchi was also a Director with strategic responsibility and on 5 August 2014 was appointed General Manager of Technology. The 2014 incentive (MBO) for Mr. Boiocchi is shown as an aggregate amount.