SOFTWARE AG | ANNUAL REPORT 2012 238 Remuneration of the Management Board pursuant to Section 314 (1), no. 6 of the German Commercial Code (HGB) Remuneration for the Management Board in fiscal 2012 amounted to €11,515thousand (2011: €27,822thousand). The stock options issued under MIP IV were recognized with a value that was measured using the binomial model in the amount of €834 thousand (2011: €17,132 thousand). Future performance during the four-year period from 2012 to 2016 was annualized at €208 thousand (2011: in the 5-year period from 2011 to 2016 at €3,426 thousand) for this remuneration component. The remuneration of the Management Board still includes the consideration paid for 117,863 phantom shares totaling €3,473 thousand. The Management Board members received a total of 117,863 (2011: 125,341) phantom shares under the phantom share plan. The phantom shares awarded had a fair value as of the grant date of €29.47 (2011: €27.43) per phantom share. Remuneration for former Management Board members totaled €350 thousand (2011: €350 thousand). Pension provisions for former Management Board members amounted to €8,086 thousand (2011: €6,392 thousand). Software AG did not grant any advances or loans to Management Board members in fiscal 2012 or in fiscal 2011. Detailed disclosures on the remuneration paid to Management Board members are made in the Remu- neration Report, which forms part of the Management Report. Remuneration of the Supervisory Board pursuant to Section 314 (1), no. 6 of the German Commercial Code (HGB) Total remuneration paid to members of the Supervisory Board amounted to €726 thousand in the year under review (2011: €609 thousand). Software AG did not grant any advances or loans to Supervisory Board members in fiscal 2012 or in fiscal 2011. Detailed disclosures on the remuneration paid to Supervisory Board members are made in the Remunera- tion Report, which forms part of the Management Report.