Executive compensation
recent-searches
Schnell-Links
Composition of executive remuneration
Click on the buttons below to navigate the page:
Type of remuneration | Purpose | Initiatives | Targets factored |
---|---|---|---|
Fixed remuneration
|
Attract and retain executives with experience and competence consistent with the role’s scope of duties and responsibilities.
|
-
|
-
|
Annual bonus
|
Recognize the executive’s contribution to the year’s results, encouraging them to overcome challenges, achieve sustainable results, and manage risks effectively.
|
Annual bonus.
|
ESG metrics help to build a more diverse pipeline at Vale; these include metrics related to occupational and community safety.
|
Long-term incentive (equity-based)
|
Promote long-term retention and commitment, generating value.
|
Matching Program and Vale Stock Program (PAV).
|
ESG Metrics included since 2020. In 2022, the weight of ESG metrics changed from 20% to 25%.
|
Changes in remuneration mix
CEO
2021: 11%
2022: 12%
2023E: 11%
2021: 19%
2022: 20%
2023E: 19%
2021: 70%
2022: 68%
2023E: 70%
Other Executive Committee members
2021: 29%
2022: 28%
2023E: 25%
2021: 29%
2022: 28%
2023E: 25%
2021: 42%
2022: 45%
2023E: 49%
Changes in remuneration mix | CEO | Other Executive Committee members | ||||
---|---|---|---|---|---|---|
|
2021
|
2022
|
2023E
|
2021
|
2022
|
2023E
|
Fixed Remuneration
|
11%
|
12%
|
11%
|
29%
|
28%
|
25%
|
Annual Bonus
|
19%
|
20%
|
19%
|
29%
|
28%
|
25%
|
Long-Term Incentives
|
70%
|
68%
|
70%
|
42%
|
45%
|
49%
|
Short-Term - Annual Bonus
Collective goals
Description: EBITDA (adjusted): achieve or exceed target EBITDA.
Fixed expenses: meet absolute budget target for fixed expenses per responsibility.
CEO:
30%/10%
Executive Committee:
CFO: 30% /10%
Technique: -
Others: 30%/20%
Description: Contribute to the continuous improvement of health and safety performance by identifying and reducing the number of potentially fatal accidents. This includes penalties for fatalities and life-changing injuries.
CEO: 10%
Executive Committee:
CFO: 10%
Technique: 30%
Others: 10%
Description: Contribute to the continuous improvement of process safety performance by identifying and reducing the number of minor and high-consequence incidents.
CEO: 7.5%
Executive Committee:
CFO: 7.5%
Technique: 27.5%
Others: 7.5%
Description: Improve community safety management, reducing exposure to the risk of adverse events.
CEO: 5%
Executive Committee:
CFO: 5%
Technique: 5%
Others: 7.5%
Description: Build a diverse talent pipeline at Vale, increasing the total number of women in the workforce and black individuals in leadership roles.
CEO: 7.5%
Executive Committee:
CFO: 7.5%
Technique: 7.5%
Others: 7.5%
Description: Deliver budgeted production volume for the Ferrous and Base Metals segment.
CEO: -
Executive Committee:
CFO: -
Technique: -
Others: 10%
Meta | Descrição | CEO | Comitê Executivo |
---|---|---|---|
Goal | Description | CEO | Executive Committee | ||
---|---|---|---|---|---|
Collective goals
|
|
|
CFO
|
Technical
|
Others
|
Economic/financial
|
EBITDA (adjusted): achieve or exceed target EBITDA.
|
30%
|
30%
|
-
|
30%-20%
|
Economic/financial
|
Fixed expenses: meet absolute budget target for fixed expenses per responsibility.
|
10%
|
10%
|
-
|
10%
|
Safety
|
Contribute to the continuous improvement of health and safety performance by identifying and reducing the number of potentially fatal accidents. This includes penalties for fatalities and life-changing injuries.
|
10%
|
10%
|
30%
|
10%
|
P Events
|
Contribute to the continuous improvement of process safety performance by identifying and reducing the number of minor and high-consequence incidents.
|
7.5%
|
7.5%
|
27.5%
|
7.5%
|
Sustainability
|
Improve community safety management, reducing exposure to the risk of adverse events.
|
5%
|
5%
|
5%
|
5%
|
Diversity, Equity and Inclusion
|
Build a diverse talent pipeline at Vale, increasing the total number of women in the workforce and black individuals in leadership roles.
|
7.5%
|
7.5%
|
7.5%
|
7.5%
|
Volume
|
Deliver budgeted production volume for the Ferrous and Base Metals segment.
|
-
|
-
|
-
|
10%
|
Individual targets
Goals: Individual targets
Description: Individual targets are defined for each executive based on their scope of work. Targets can be executive-specific or shared to enhance cross-department collaboration and engagement.
CEO: 30%
Executive Committee
CFO: 30%
Technique: 30%
Others: 30%
Total
CEO: 100%
Executive Committee
CFO: 100%
Technique 100%
Other: 100%
Individual targets
|
Individual targets are defined for each executive based on their scope of work. Targets can be executive-specific or shared to enhance cross-department collaboration and engagement.
|
30%
|
30%
|
30%
|
30%
|
Total
|
100%
|
100%
|
100%
|
100%
|
Long term
Explanatory note
Restricted shares: as outorgas das ações nesse modelo estão condicionadas a uma carência e/ou a metas de performance individuais ou coletivas.
Explanatory note
Performance shares: nesse caso, há um adendo nas regras de outorgas dessas ações baseado em metas de desempenho. No caso da Vale, o indicador de referência utilizado é o Total Shareholder Return (TSR) medido pela oscilação do preço das ações e dividendos pagos.
Fotógrafo: xxxx
Explanatory note
TSR: refers to the fluctuation (gain or loss) of the share price (including dividends distributed) over a period of time.
Fotógrafo: xxxx
Learn more
New executive compensation disclosures
The data provided, organized by salary grade, and the historical series from previous years show that the remuneration we pay to the CEO and other executives aligns with international practices and the specific challenges of our business as a global company, underscoring our commitment to responsible and prudent compensation practices.
The following table provides remuneration data by salary grade, along with a historical series of executive payments over recent years:
Explanatory note
Living wage: a measure of remuneration that considers providing the means for an individual/family to acquire the goods and services necessary to achieve a basic and dignified standard of living (food, housing, education, transportation, leisure, culture, etc.) in line with the social and cultural expectations of the community and/or country where the individual is located.
Executive compensation by salary grade
In absolute figures - BRL/USD 5.50
No. of executives: 1
Fees: 5.17
Benefits: 1.31
Total Fixed Remun: 6.48
STIP - Bonus: 10.03
LTIP - PAV: 16.46
LTIP - Matching: 26.98
Other payments: 0.00
Total VR: 53.47
Total Comp. BRL: 59.95
Total Comp. USD: 10.90
No. of executives: 1
Fees: 3.89
Benefits: 0.94
Total Fixed Remun: 4.83
STIP - Bonus: 5.96
LTIP - PAV: 2.65
LTIP - Matching: 6.20
Other payments: 0.00
Total VR: 14.81
Total Comp. BRL: 19.64
Total Comp. USD: 3.57
No. of executives: 4
Fees: 3.48
Benefits: 0.95
Total Fixed Remun: 4.43
STIP - Bonus: 4.75
LTIP - PAV: 1.79
LTIP - Matching: 5.49
Other payments: 3.54
Total VR: 15.56
Total Comp. BRL: 20.00
Total Comp. USD: 3.64
No. of executives: 3
Fees: 2.32
Benefits: 0.64
Total Fixed Remun: 2.96
STIP - Bonus: 2.91
LTIP - PAV: 0.90
LTIP - Matching: 2.95
Other payments: 0.21
Total VR: 6.97
Total Comp. BRL: 9.93
Total Comp. USD: 1.81
No. of executives
G23: 1
G22: 1
G21: 4
G20: 3
Fees
G23: 5.17
G22: 3.89
G21: 3.48
G20: 2.32
Benefits
G23: 1.31
G22: 0.94
G21: 0.95
G20: 0.64
Total Fixed Remun
G23: 6.48
G22: 4.83
G21: 4.43
G20: 2.96
STIP - Bonus
G23: 10.03
G22: 5.96
G21: 4.75
G20: 2.91
LTIP - PAV
G23: 16,46
G22: 2,65
G21: 1,79
G20: 0,90
LTIP - Matching
G23: 26.98
G22: 6.20
G21: 5.49
G20: 2.95
Other payments
G23: 0,00
G22: 0,00
G21: 3,54
G20: 0,21
Total VR
G23: 53.47
G22: 14.81
G21: 15.56
G20: 6.97
Total Comp. BRL
G23: 59.95
G22: 19.64
G21: 20.00
G20: 9.93
Total Comp. USD
G23: 10.90
G22: 3.57
G21: 3.64
G20: 1.81
Grade | G23 | G22 | G21 | G20 |
---|---|---|---|---|
No. of executives
|
1
|
1
|
4
|
3
|
Fees
|
5.17
|
3.89
|
3.48
|
2.32
|
Benefits
|
1.31
|
0.94
|
0.95
|
0.64
|
Total Fixed Remun
|
6.48
|
4.83
|
4.43
|
2.96
|
STIP - Bonus
|
10.03
|
5.96
|
4.75
|
2.91
|
LTIP - PAV
|
16.46
|
2.65
|
1.79
|
0.90
|
LTIP - Matching
|
26.98
|
6.20
|
5.49
|
2.95
|
Other payments
|
0.00
|
0.00
|
3.54
|
0.21
|
Total VR
|
53.47
|
14.81
|
15.56
|
6.97
|
Total Comp.
BRL |
59.95
|
19.64
|
20.00
|
9.93
|
Total Comp. USD
|
10.90
|
3.57
|
3.64
|
1.81
|
Actual 2022 (reported in accordance with CVM rules) – As a percentage of the mix
Total remuneration of the Executive Committee
2021 Accrual period: 33,301,594
2022R Accrual period: 39,636,743
2023P Accrual period: 38,043,248
2021 Accrual period: 26,723,539
2022R Accrual period: 31,297,473
2023P Accrual period: 30,384,220
2021 Accrual period: 6,578,055
2022R Accrual period: 8,339,270
2023P Accrual period: 7,659,028
2021 Accrual period: 55,646,138
2022R Accrual period: 155,102,223
2023P Accrual period: 154,331,591
2021 Accrual period: 42,959,956
2022R Accrual period: 45,527,162
2023P Accrual period: 46,617,593
2021 Accrual period: 12,686,182
2022R Accrual period: 14,779,564
2023P Accrual period: 19,013,042
2021 Accrual period: 66,887,193
2022R Accrual period: 94,795,497
2023P Competência: 88,700,956
2021 Accrual period: 7,909,251
2022R Accrual period: 10,252,402
2023P Accrual period: 9,247,220
2021 Accrual period: 163,744,175
2022R Accrual period: 204,991,368
2023P Accrual period: 201,622,059
Executive Committee | 2021 Accrual period | 2022R Accrual period | 2023P Accrual period |
---|---|---|---|
Fixed Annual Remuneration
|
33,301,594
|
39,636,743
|
38,043,248
|
Salary or management fees
|
26,723,539
|
31,297,473
|
30,384,220
|
Benefits
|
6,578,055
|
8,339,270
|
7,659,028
|
Variable Remuneration
|
55,646,138
|
155,102,223
|
154,331,591
|
Bonuses
|
42,959,956
|
45,527,162
|
46,617,593
|
Other
|
12,686,182
|
14,779,564
|
19,013,042
|
Equity-Based
|
66,887,193
|
94,795,497
|
88,700,956
|
Termination pay
|
7,909,251
|
10,252,402
|
9,247,220
|
Total
|
163,744,175
|
204,991,368
|
201,622,059
|
Individual Remuneration (R$)
Executive Committee - not including payroll charges
Maximum Remuneration
2020R (cash)
31.517.608
2021R (cash)
55.144.334
2022R (accrual)
59.948.670
2020R (cash)
6.668.017
2021R (cash)
11.309.941
2022R (accrual)
7.351.597
2020R (cash)
23.836.573
2021R (cash)
21.394.893
2022R (accrual)
21.375.534
Executive Committee - not including payroll charges | 2020R (cash) | 2021R (cash) | 2022R (accrual) |
---|---|---|---|
Maximum Remuneration
|
31.517.608
|
55.144.334
|
59.948.670
|
Minimum Remuneration
|
6.668.017
|
11.309.941
|
7.351.597
|
Average Remuneration
|
23.836.573
|
21.394.893
|
21.375.534
|