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v3.24.1

Employee deferred compensation (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Share-based compensation disclosures |
Deferred compensation expense | Deferred compensation expense
in |  | 2023 |  | 2022 |  | 2021 |
Deferred compensation expense (CHF million)
Share awards |  | 275 |  | 293 |  | 466 |
Performance share awards |  | 6 | 1 | 1 | 1 | 281 |
Strategic Delivery Plan |  | 80 |  | 235 |  | – |
Contingent Capital Awards |  | (299) | 2 | (4) |  | 194 |
Transformation Awards |  | 65 |  | – |  | – |
Cash awards |  | 659 |  | 623 |  | 370 |
Retention awards |  | 368 |  | 170 |  | 123 |
Total deferred compensation expense |  | 1,154 |  | 1,318 |  | 1,434 |
Total shares delivered (million)
Total shares delivered |  | 15.8 |  | 56.7 |  | 55.7 |
1 Included downward adjustment applied to outstanding performance share awards.
2 CCA cancelled in 2023, resulting in a credit of CHF 0.4 billion.
Additional information | Estimated unrecognized deferred compensation
end of |  | 2023 |
Estimated unrecognized compensation expense (CHF million)
Share awards |  | 100 |
Performance share awards |  | 4 |
Strategic Delivery Plan |  | 23 |
Transformation Awards |  | 45 |
Cash awards |  | 215 |
Retention awards |  | 125 |
Total |  | 512 |
Aggregate remaining weighted-average requisite service period (years)
Aggregate remaining weighted-average requisite service period |  | 1.3 |
Stock compensation plan | Share awards |
Share-based compensation disclosures |
Share-based award activities | Share award activities
|  | 2023 |  | 2022 |  | 2021 |
|  | Number of share awards in million |  | Weighted- average grant-date fair value in CHF |  | Number of share awards in million |  | Weighted- average grant-date fair value in CHF |  | Number of share awards in million |  | Weighted- average grant-date fair value in CHF |
Share awards
Balance at beginning of period |  | 139.8 |  | 8.59 |  | 135.3 |  | 11.22 |  | 115.2 |  | 11.82 |
Granted pre-acquisition |  | 93.4 | 1 | 1.92 | 1 | 76.1 | 2 | 6.21 |  | 85.7 |  | 11.19 |
Settled pre-acquisition |  | (9.3) |  | 8.05 |  | (57.8) |  | 11.26 |  | (50.1) |  | 12.44 |
Forfeited pre-acquisition |  | (19.6) |  | 7.46 |  | (13.8) |  | 10.13 |  | (15.5) |  | 11.52 |
Balance pre-acquisition |  | 204.3 |  | 5.67 |  | 139.8 |  | 8.59 |  | 135.3 |  | 11.22 |
Conversion impact: 22.48 CS shares to one UBS share |  | 195.2 |  |  |  |  |  |  |  |  |  |  |
Balance post-acquisition |  | 9.1 |  |  |  |  |  |  |  |  |  |  |
Granted post-acquisition |  | 10.9 |  |  |  |  |  |  |  |  |  |  |
Settled post-acquisition |  | (1.9) |  |  |  |  |  |  |  |  |  |  |
Forfeited post-acquisition |  | (2.5) |  |  |  |  |  |  |  |  |  |  |
Balance at end of period |  | 15.6 |  |  |  |  |  |  |  |  |  |  |
of which vested |  | 2.1 |  | – |  | 24.1 |  | – |  | 11.8 |  | – |
of which unvested |  | 13.5 |  | – |  | 115.7 |  | – |  | 123.5 |  | – |
1 Included cancellation of awards as instructed by the Swiss Federal Department of Finance.
2 Included an adjustment for share awards granted in the fourth quarter of 2022 to compensate for the proportionate dilution of Credit Suisse Group AG shares resulting from the rights offering approved on November 28, 2022. The number of deferred share-based awards held by each individual was increased by 5.64%. The terms and conditions of the adjusted shares were the same as the existing share-based awards, thereby ensuring that holders of the awards were neither advantaged nor disadvantaged by the additional shares granted.
Stock compensation plan | Strategic Delivery Plan |
Share-based compensation disclosures |
Share-based award activities | Strategic Delivery Plan activities
|  | 2023 |  | 2022 |
|  | Number of Strategic Delivery Plan awards in million |  | Weighted- average grant-date fair value in CHF |  | Number of Strategic Delivery Plan awards in million |  | Weighted- average grant-date fair value in CHF |
Strategic Delivery Plan
Balance at beginning of period |  | 58.8 |  | 8.10 |  | – |  | – |
Granted pre-acquisition |  | (6.2) | 1 | 8.09 | 1 | 62.6 | 2 | 8.12 |
Settled pre-acquisition |  | 0.0 |  | 8.20 |  | 0.0 |  | 0.00 |
Forfeited pre-acquisition |  | (4.6) |  | 8.13 |  | (3.8) |  | 8.42 |
Balance pre-acquisition |  | 48.0 |  | 8.09 |  | 58.8 |  | 8.10 |
Conversion impact: 22.48 CS shares to one UBS share |  | 45.9 |  |  |  |  |  |  |
Balance post-acquisition |  | 2.1 |  |  |  |  |  |  |
Forfeited post-acquisition |  | (0.3) |  |  |  |  |  |  |
Balance at end of period |  | 1.8 |  |  |  |  |  |  |
of which vested |  | 0.6 |  | – |  | 6.8 |  | – |
of which unvested |  | 1.2 |  | – |  | 52.0 |  | – |
1 Included cancellation of awards as instructed by the Swiss Federal Department of Finance.
2 Included an adjustment for Strategic Delivery Plan awards granted in the fourth quarter of 2022 to compensate for the proportionate dilution of Credit Suisse Group AG shares resulting from the rights offering approved on November 28, 2022. The number of deferred share-based awards held by each individual was increased by 5.64%. The terms and conditions of the adjusted shares were the same as the existing share-based awards, thereby ensuring that holders of the awards were neither advantaged nor disadvantaged by the additional Strategic Delivery Plan shares granted.
Stock compensation plan | Transformation Awards [Member] |
Share-based compensation disclosures |
Share-based award activities | Transformation Awards activities
|  | 2023 |
|  | Number of Transformation awards in million |  | Weighted- average grant-date fair value in CHF |
Transformation Awards
Balance at beginning of period |  | – |  | – |
Granted pre-acquisition |  | 30.3 | 1 | 1.91 | 1
Forfeited pre-acquisition |  | 0.2 |  | 1.91 |
Balance pre-acquisition |  | 30.5 |  | 1.91 |
Conversion impact: 22.48 CS shares to one UBS share |  | 29.1 |  |  |
Balance post-acquisition |  | 1.4 |  |  |
Forfeited post-acquisition |  | (0.3) |  |  |
Balance at end of period |  | 1.1 |  |  |
of which vested |  | 0.2 |  | – |
of which unvested |  | 0.9 |  | – |
1 Included cancellation of awards as instructed by the Swiss Federal Department of Finance.
Performance shares | Performance share awards |
Share-based compensation disclosures |
Share-based award activities | Performance share award activities
|  | 2023 |  | 2022 |  | 2021 |
|  | Number of performance share awards in million |  | Weighted- average grant-date fair value in CHF |  | Number of performance share awards in million |  | Weighted- average grant-date fair value in CHF |  | Number of performance share awards in million |  | Weighted- average grant-date fair value in CHF |
Performance share awards
Balance at beginning of period |  | 42.1 |  | 9.93 |  | 73.8 |  | 11.67 |  | 88.0 |  | 11.67 |
Granted pre-acquisition |  | (5.9) | 1 | 8.45 | 1 | 2.9 | 2,3 | (14.47) | 3 | 27.4 |  | 12.71 |
Settled pre-acquisition |  | (4.2) |  | 10.67 |  | (29.7) |  | 11.70 |  | (33.2) |  | 12.50 |
Forfeited pre-acquisition |  | (2.8) |  | 10.18 |  | (4.9) |  | 11.00 |  | (8.4) |  | 11.78 |
Balance pre-acquisition |  | 29.2 |  | 10.11 |  | 42.1 |  | 9.93 |  | 73.8 |  | 11.67 |
Conversion impact: 22.48 CS shares to one UBS share |  | 27.9 |  |  |  |  |  |  |  |  |  |  |
Balance post-acquisition |  | 1.3 |  |  |  |  |  |  |  |  |  |  |
Settled post-acquisition |  | (0.4) |  |  |  |  |  |  |  |  |  |  |
Forfeited post-acquisition |  | (0.2) |  |  |  |  |  |  |  |  |  |  |
Balance at end of period |  | 0.7 |  |  |  |  |  |  |  |  |  |  |
of which vested |  | 0.3 |  | – |  | 13.5 |  | – |  | 10.4 |  | – |
of which unvested |  | 0.4 |  | – |  | 28.6 |  | – |  | 63.4 |  | – |
1 Included cancellation of awards as instructed by the Swiss Federal Department of Finance.
2 Included an adjustment for performance share awards granted in the fourth quarter of 2022 to compensate for the proportionate dilution of Credit Suisse Group AG shares resulting from the rights offering approved on November 28, 2022. The number of deferred share-based awards held by each individual was increased by 5.64%. The terms and conditions of the adjusted shares were the same as the existing share-based awards, thereby ensuring that holders of the awards were neither advantaged nor disadvantaged by the additional performance shares granted.
3 Included downward adjustment applied to outstanding performance share awards.

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