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Information on remuneration | 12 Months Ended
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Dec. 31, 2023
Information on remuneration [Abstract] |
Information on remuneration [Text Block] | ### 27Information on remuneration #### Remuneration of the Executive Committee In 2023, the total remuneration costs relating to the members of the Executive Committee (consisting of 16 members throughout the year, including the members of the Board of Management) amounted to EUR 32.8 million (2022: EUR 25.6 million; 2021: EUR 33.4 million) consisting of the elements in the following table. Philips Group Remuneration costs of the Executive Committee1) in EUR
| 2021 | 2022 | 2023
--- | --- | --- | ---
Base salary/Base compensation | 9,598,588 | 9,528,279 | 8,729,458
Annual incentive2) | 5,250,408 | 208,370 | 11,405,130
Performance shares3) | 12,610,073 | 11,242,581 | 7,272,815
Stock options |  |  | 13,358
Restricted share rights3) | 1,380,644 | 1,191,529 | 1,907,511
Pension allowances4) | 2,107,953 | 1,949,204 | 1,346,937
Pension scheme costs | 306,694 | 288,179 | 260,554
Other compensation5) | 2,104,044 | 1,216,163 | 1,900,224
Total | 33,358,405 | 25,624,305 | 32,835,987
1)The Executive Committee consisted of 13 members as per December 31, 2023 (2022: 13 members; 2021: 13 members)2)The annual incentives are related to the performance in the year reported which are paid out in the subsequent year.3)Costs of performance shares and restricted share rights are based on accounting standards (IFRS) and do not reflect the value of performance shares at the vesting/release date 4)Pension allowances are gross taxable allowances paid to the Executive Committee members in the Netherlands. These allowances are part of the pension arrangement 5)The stated amounts mainly concern (share of) allowances to members of the Executive Committee that can be considered as remuneration. In a situation where such a share of an allowance can be considered as (indirect) remuneration (for example, private use of the company car), then the share is both valued and accounted for here. The method employed by the fiscal authorities is the starting point for the value stated As of December 31, 2023, the members of the Executive Committee (including the members of the Board of Management) held 0 stock options (2022: 0; 2021: 184,900). #### Remuneration of the Board of Management In 2023, the total remuneration costs relating to the members of the Board of Management amounted to EUR 9.9 million (2022: EUR 8.4 million; 2021: EUR 10.3 million), see the following table. Philips Group Remuneration costs of individual members of the Board of Management in EUR
| base compensation/salary | annual incentive1) | performance shares2) | restricted share rights2) | pension allowances3) | pension scheme costs | other compensation | total costs
--- | --- | --- | --- | --- | --- | --- | --- | ---
2023 |  |  |  |  |  |  |  |
R. Jakobs | 1,200,000 | 2,004,480 | 968,922 |  | 267,798 | 31,891 | 109,256 | 4,582,347
A. Bhattacharya | 810,000 | 1,075,939 | 793,429 |  | 197,133 | 31,891 | 94,516 | 3,002,907
M.J. van Ginneken | 630,000 | 846,922 | 614,840 |  | 125,298 | 31,891 | 53,446 | 2,302,397
| 2,640,000 | 3,927,341 | 2,377,191 |  | 590,228 | 95,673 | 257,218 | 9,887,650
2022 |  |  |  |  |  |  |  |
R. Jakobs4) | 256,438 |  | 112,737 |  | 57,973 | 6,012 | 11,507 | 444,667
F.A. van Houten4) | 1,041,849 | 208,370 | 2,930,068 |  | 444,051 | 22,121 | 42,533 | 4,688,992
A. Bhattacharya | 806,250 |  | 763,140 |  | 237,250 | 28,133 | 61,308 | 1,896,081
M.J. van Ginneken | 626,250 |  | 585,490 |  | 141,622 | 28,133 | 35,343 | 1,416,837
| 2,730,788 | 208,370 | 4,391,434 |  | 880,896 | 84,398 | 150,691 | 8,446,577
2021 |  |  |  |  |  |  |  |
F.A. van Houten | 1,325,000 | 850,915 | 2,626,295 |  | 565,403 | 27,462 | 57,224 | 5,452,299
A. Bhattacharya | 790,000 | 360,103 | 1,172,533 |  | 233,857 | 27,462 | 68,908 | 2,652,864
M.J. van Ginneken | 605,000 | 317,192 | 886,035 |  | 150,755 | 27,462 | 42,610 | 2,029,054
| 2,720,000 | 1,528,211 | 4,684,863 |  | 950,014 | 82,387 | 168,742 | 10,134,217
1)The annual incentives are related to the performance in the year reported which are paid out in the subsequent year.2)Costs of performance shares and restricted share rights are based on accounting standards (IFRS) and do not reflect the value of performance shares at the vesting/release date 3)The stated amounts mainly concern (share of) allowances to members of the Board of Management that can be considered as remuneration. In a situation where such a share of an allowance can be considered as (indirect) remuneration (for example, private use of the company car), then the share is both valued and accounted for here. The method employed by the fiscal authorities is the starting point for the value stated.4)As per October 15, 2022, Roy Jakobs was appointed as CEO of the company. The table includes actual costs incurred in respect of the remuneration received by Mr Van Houten and Mr Jakobs, respectively, as CEO. The accumulated annual pension entitlements and the pension costs of individual members of the Board of Management are as follows: Philips Group Accumulated annual pension entitlements and pension-related costs in EUR unless otherwise stated
| age at December 31, 2023 | accumulated annual pension as of December 31, 2023 | total pension related costs
--- | --- | --- | ---
R. Jakobs | 49 | 56,383 | 299,689
A. Bhattacharya | 62 | 40,324 | 229,024
M.J. van Ginneken | 50 | 53,769 | 157,189
Pension costs |  |  | 685,901
When pension rights are granted to members of the Board of Management, necessary payments (if insured) and all necessary provisions are made in accordance with the applicable accounting principles. In 2023, no (additional) pension benefits were granted to former members of the Board of Management. #### Remuneration of the Supervisory Board The remuneration of the members of the Supervisory Board amounted to EUR 1.5 million (2022: EUR 1.5 million; 2021: EUR 1.3 million). Former members received no remuneration. The members of the Supervisory Board do not receive any share-based remuneration. Therefore, as of December 31, 2023 the members of the Supervisory Board held no stock options, performance shares or restricted shares. The individual members of the Supervisory Board received, by virtue of the positions they held, the following remuneration: Philips Group Remuneration of the Supervisory Board in EUR
| membership | committees | other compensation1) | total
--- | --- | --- | --- | ---
2023 |  |  |  |
F. Sijbesma | 155,000 | 35,000 | 16,345 | 206,345
P.A.M. Stoffels | 115,000 | 35,000 | 22,269 | 172,269
D.E.I. Pyott | 100,000 | 35,000 | 19,769 | 154,769
A.M. Harrison | 100,000 | 14,000 | 19,769 | 133,769
M.E. Doherty | 100,000 | 27,000 | 27,269 | 154,269
P. Löscher | 100,000 | 32,000 | 17,269 | 149,269
I. Nooyi | 100,000 | 14,000 | 17,269 | 131,269
S.K. Chua | 100,000 | 18,000 | 22,269 | 140,269
H. Verhagen | 100,000 | 14,000 | 7,269 | 121,269
S. Poonen | 100,000 | 18,000 | 19,769 | 137,769
| 1,070,000 | 242,000 | 189,266 | 1,501,266
2022 |  |  |  |
F. Sijbesma | 155,000 | 35,000 | 16,345 | 206,345
P.A.M. Stoffels | 115,000 | 35,000 | 27,269 | 177,269
N. Dhawan | 35,616 | 6,411 | 5,808 | 47,836
D.E.I. Pyott | 100,000 | 35,000 | 17,269 | 152,269
A.M. Harrison | 100,000 | 14,000 | 12,269 | 126,269
M.E. Doherty | 100,000 | 27,000 | 24,769 | 151,769
P. Löscher | 100,000 | 32,000 | 24,769 | 156,769
I. Nooyi | 100,000 | 14,000 | 17,269 | 131,269
S.K. Chua | 100,000 | 18,000 | 22,269 | 140,269
H. Verhagen | 100,000 | 14,000 | 7,269.0 | 121,269
S. Poonen | 100,000 | 18,000 | 17,269 | 135,269
| 1,105,616 | 248,411 | 192,574 | 1,546,602
2021 |  |  |  |
J. van der Veer | 53,507 | 12,082 | 3,916 | 69,505
C.A. Poon | 39,699 | 16,915 | 783 | 57,397
N. Dhawan | 100,000 | 18,000 | 2,269 | 120,269
O. Gadiesh | 34,521 | 4,833 | 783 | 40,137
D.E.I. Pyott | 100,000 | 36,370 | 2,269 | 138,639
P.A.M. Stoffels | 109,863 | 27,808 | 4,769 | 142,440
A.M. Harrison | 100,000 | 14,000 | 2,269 | 116,269
M.E. Doherty | 100,000 | 27,000 | 4,769 | 131,769
P. Löscher | 100,000 | 32,000 | 4,769 | 136,769
F. Sijbesma | 141,301 | 27,808 | 8,237 | 177,346
I. Nooyi | 100,000 | 14,000 | 2,269 | 116,269
S.K. Chua | 65,753 | 11,836 | 1,492 | 79,081
| 1,044,644 | 242,652 | 38,595 | 1,325,891
1)The amounts mentioned under other compensation relate to the fee for intercontinental travel, inter-European travel, the entitlement of EUR 2,000 under the Philips product arrangement and the annual fixed net expense allowance. #### Supervisory Board members’ and Board of Management members’ interests in Philips shares Members of the Supervisory Board and of the Board of Management are prohibited from writing call and put options or similar derivatives of Philips securities. Philips Group Shares held by Board members1)2) in number of shares
| December 31, 2022 | December 31, 2023
--- | --- | ---
R. Jakobs | 109,422 | 126,809
A. Bhattacharya | 169,517 | 177,088
M.J. van Ginneken | 123,914 | 129,447
P. Stoffels | 17,000 | 17,759
S. Poonen | 3,000 | 3,133
I. Nooyi | 3,100 | 3,238
D. Pyott | 19,000 | 19,848
S.K. Chua | 2,000 | 2,089
F. Sijbesma | 12,500 | 25,000
M. Harrison | 1,500 | 1,567
P. Löscher | 20,732 | 21,658
1)Reference date for board membership is December 31, 2023.2)The total shares held by the members of the Board of Management is less than 1% of the company's issued share capital.

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