{"id":25025,"date":"2026-06-25T10:00:35","date_gmt":"2026-06-25T07:00:35","guid":{"rendered":"https:\/\/yknot.gr\/ir\/?p=25025"},"modified":"2026-06-26T15:08:29","modified_gmt":"2026-06-26T12:08:29","slug":"remuneration-report-of-the-members-of-the-bod-for-2025","status":"publish","type":"post","link":"https:\/\/yknot.gr\/ir\/remuneration-report-of-the-members-of-the-bod-for-2025\/","title":{"rendered":"Remuneration Report of the Members of the BoD for 2025"},"content":{"rendered":"

REMUNERATION REPORT OF THE MEMBERS OF THE BOARD OF DIRECTORS <\/strong><\/p>\n

OF THE COMPANY “Y\/KNOT INVEST S.A.” FOR THE FINANCIAL YEAR 2025 (1\/1\/2025 \u2013 31\/12\/2025)<\/strong><\/p>\n

    \n
  1. Introduction \u2013 Legal Framework<\/strong><\/li>\n<\/ol>\n

    The present Remuneration Report (hereinafter the “Report”) was prepared in accordance with Article 112 of Law 4548\/2018. The content of the Report constitutes a comprehensive overview of the total remuneration (fixed, variable, and benefits) of the members of the Board of Directors of “Y\/KNOT INVEST S.A.” (hereinafter the “Company”) for the financial year 2025. All components of this remuneration are regulated by the Remuneration Policy for the members of the Board of Directors, which was initially approved by the Annual Regular General Meeting of the Company’s shareholders on July 22nd, 2024, and was subsequently updated by the General Meetings of July 10th, 2025, and November 4th, 2025.<\/p>\n

    The present Remuneration Report for the financial year 2025 will be submitted for discussion to the Annual Regular General Meeting of the Company’s shareholders, which will take place within 2026, as a separate item on the agenda, and will subsequently be made available to the public on the Company’s website at www.yknot.gr for a period of at least ten years.<\/p>\n

    The objective of the Report is to enhance corporate transparency and provide clear information to shareholders regarding the alignment of remuneration with the business strategy and the long-term interests of the Company.<\/p>\n

      \n
    1. Applicable Remuneration Policy<\/strong><\/li>\n<\/ol>\n

      The financial year 2025 was a transition year for the Company. Therefore, the remuneration paid is governed by two successive policies:<\/p>\n

        \n
      • Period A (until 10\/07\/2025):<\/strong> Application of the Remuneration Policy approved by the Regular General Meeting of 22.07.2024 (under the company name “KIRIACOULIS MEDITERRANEAN CRUISES SHIPPING S.A.”).<\/li>\n
      • Period B (from 10\/07\/2025):<\/strong> Application of the new Remuneration Policy approved by the Regular General Meeting of 10.07.2025 and amended by the Extraordinary General Meeting of 04.11.2025.<\/li>\n<\/ul>\n
          \n
        1. Detailed Remuneration Table of BoD Members (Financial Year 2025)<\/strong><\/li>\n<\/ol>\n

          The amounts are presented in gross value (Euros) and relate to the duration of each member’s office term within the year.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
          Full Name \/ Title<\/strong><\/td>\nBoD Member Fees (\u20ac)<\/strong><\/td>\nAudit Committee (AC) Fees (\u20ac)<\/strong><\/td>\nRemuneration & Nominations Committee (RNC) Fees (\u20ac)<\/strong><\/td>\nSalary (\u20ac)<\/strong><\/td>\nBenefits (1) (\u20ac)<\/strong><\/td>\nTotal 2025 (\u20ac)<\/strong><\/td>\n<\/tr>\n<\/thead>\n
          Outgoing Members<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
          Theofanis Kiriacoulis (CEO until 31\/10)<\/td>\n41.644<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n6.303<\/td>\n47.947<\/td>\n<\/tr>\n
          Spyridon Kiriacoulis (Chairman until 06\/06)<\/td>\n26.469<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n888<\/td>\n27.357<\/td>\n<\/tr>\n
          Charikleia Theodorou (Exec. Member until 06\/06)<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n27.988<\/td>\n6.052<\/td>\n34.040<\/td>\n<\/tr>\n
          New Members (from reconstitution)<\/strong><\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
          Rigas Tzortzis (Chairman of the BoD)<\/td>\n11.986<\/td>\n2.877<\/td>\n1.438<\/td>\n–<\/td>\n–<\/td>\n16.301<\/td>\n<\/tr>\n
          Georgios Koutsos (CEO)<\/td>\n23.973<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n23.973<\/td>\n<\/tr>\n
          Ioannis Mouzakis (Deputy CEO)<\/td>\n23.973<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n23.973<\/td>\n<\/tr>\n
          Kalliopi Papadopoulou (Independent Non-Exec. Member)<\/td>\n4.795<\/td>\n5.754<\/td>\n2.877<\/td>\n–<\/td>\n–<\/td>\n13.425<\/td>\n<\/tr>\n
          Christina Korkidi (Independent Non-Exec. Member)<\/td>\n4.795<\/td>\n2.877<\/td>\n1.438<\/td>\n–<\/td>\n–<\/td>\n9.110<\/td>\n<\/tr>\n
          Panagiotis Tzortzis (Non-Exec. Member)<\/td>\n1.699<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n–<\/td>\n1.699<\/td>\n<\/tr>\n
          TOTALS<\/strong><\/td>\n139.334<\/strong><\/td>\n11.508<\/strong><\/td>\n5.753<\/strong><\/td>\n27.988<\/strong><\/td>\n13.243<\/strong><\/td>\n197.826<\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

          (1) Breakdown of Benefits:<\/strong><\/p>\n

            \n
          • An amount of \u20ac6.303 concerns the operating expenses of a company car (\u20ac4.986), mobile telephony service expenses (\u20ac429), and insurance expenses (\u20ac888) of Mr. Th. Kiriacoulis.<\/li>\n
          • An amount of \u20ac6.052 concerns the insurance expenses of Ms. Ch. Theodorou.<\/li>\n
          • An amount of \u20ac888 concerns the insurance expenses of Mr. S. Kiriacoulis.<\/li>\n<\/ul>\n
              \n
            1. Compliance with the Remuneration Policy<\/strong><\/li>\n<\/ol>\n
                \n
              • Fixed Remuneration:<\/strong> 100% of the remuneration for the financial year 2025 was of a fixed nature.<\/li>\n
              • Variable Remuneration:<\/strong> During the financial year 2025, no variable remuneration (bonus) was paid, nor was Article 4 of the Policy regarding target-based additional remuneration activated.<\/li>\n
              • Share-based Incentives:<\/strong> There was no granting or exercise of stock options or free distribution of shares (stock grants).<\/li>\n
              • Clawback:<\/strong> No reason arose for the application of variable remuneration recovery (clawback) clauses.<\/li>\n<\/ul>\n

                It is clarified that no remuneration has been granted to the members of the BoD in the form of a percentage of the company’s profits, as provided for in paragraph 2 of Article 109 of Law 4548\/2018.<\/p>\n

                  \n
                1. Remuneration of Any Nature from Companies Belonging to the Group of “Y\/KNOT INVEST S.A.”<\/strong><\/li>\n<\/ol>\n

                  The financial results for the year 2025 of the subsidiary “KYRIAKOULIS MEDITERRANEAN CRUISES SINGLE MEMBER L.T.D.” were burdened with the following amounts:<\/p>\n

                    \n
                  • The amount of \u20ac389 concerning Mr. Spiridon Kiriacoulis, Administrator of the subsidiary, refers to mobile telephony service fees.<\/li>\n
                  • An amount of \u20ac3.351 concerns the operating expenses of a company-owned car used by Mr. Spiridon Kiriakoulis, Administrator of the subsidiary. The expenses of this benefit include depreciation, maintenance and repair costs, road tax, insurance premiums, and car fuel.<\/li>\n
                  • The amount of \u20ac199 concerning Ms. Charikleia Theodorou refers to mobile telephony service fees.<\/li>\n<\/ul>\n

                    The financial results for the year 2025 of the subsidiary “MARINA KALAMATAS TOURIST S.A.” were burdened with the following amounts:<\/p>\n

                      \n
                    • An amount of \u20ac4.671 concerning Mr. Georgios Koutsos as his remuneration for the position of Chairman of the BoD of the subsidiary company.<\/li>\n
                    • An amount of \u20ac3.397 concerning Mr. Ioannis Mouzakis as his remuneration for the position of non-executive member of the BoD of the subsidiary company.<\/li>\n
                    • An amount of \u20ac3.397 concerning Ms. Kalliopi Papadopoulou as her remuneration for the position of independent non-executive member of the BoD of the subsidiary company.<\/li>\n<\/ul>\n
                        \n
                      1. Longitudinal Comparative Analysis (2021-2025)<\/strong><\/li>\n<\/ol>\n

                        The comparison reflects the strategic shift of the Company and the readjustment of its operating costs.<\/p>\n\n\n\n\n\n\n\n\n\n
                        Year<\/strong><\/td>\nTotal BoD Remuneration (\u20ac)<\/strong><\/td>\nChange %<\/strong><\/td>\nAverage Employee Remuneration (\u20ac)<\/strong><\/td>\nChange %<\/strong><\/td>\nResults After Taxes (\u20ac)<\/strong><\/td>\nChange %<\/strong><\/td>\n<\/tr>\n<\/thead>\n
                        2021<\/td>\n100.000<\/td>\n0,00%<\/td>\n18.522<\/td>\n0,00%<\/td>\n(1.225.898)<\/td>\n0,00%<\/td>\n<\/tr>\n
                        2022<\/td>\n100.000<\/td>\n0,00%<\/td>\n23.532<\/td>\n27,05%<\/td>\n(3.757.409)<\/td>\n(206,50) %<\/td>\n<\/tr>\n
                        2023<\/td>\n100.000<\/td>\n0,00%<\/td>\n27.273<\/td>\n15,90%<\/td>\n(2.667.356)<\/td>\n29,01%<\/td>\n<\/tr>\n
                        2024<\/td>\n100.000<\/td>\n0,00%<\/td>\n32.968<\/td>\n20,88%<\/td>\n(1.416.921)<\/td>\n46,88%<\/td>\n<\/tr>\n
                        2025<\/td>\n156.595<\/td>\n56,59%<\/td>\n32.924<\/td>\n(0,13%)<\/td>\n(5.425.893)<\/td>\n(282,94) %<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

                        \u00a0<\/strong><\/p>\n

                        Interpretation of Changes:<\/strong><\/p>\n

                          \n
                        • BoD Remuneration:<\/strong> The increase of 56,6% is due to the simultaneous existence of compensation for the outgoing management and the fees of the new members during the transition period (Overlap).<\/li>\n
                        • Employee Remuneration:<\/strong> The decrease of 0,1% reflects the structural reorganization of personnel and the adaptation to the new business model of Y\/KNOT INVEST.<\/li>\n
                        • Corporate Performance:<\/strong> The increased losses of the financial year 2025 are mainly due to extraordinary reorganization expenses, impairments, and the cost of transitioning to the new corporate structure. This internal restructuring coincided with a broader, cyclical downturn in the global yacht sales and purchase market, which was significantly affected by macroeconomic uncertainty, inflation, and high interest rates.<\/li>\n<\/ul>\n
                            \n
                          1. Information from the Advisory Vote of Shareholders<\/strong><\/li>\n<\/ol>\n

                            During the Regular General Meeting of July 10th, 2025, the Remuneration Report for the financial year 2024 was put to an advisory vote and was approved unanimously (100% of the represented shares). The Company remains committed to maintaining the level of transparency requested by the shareholders.<\/p>\n

                              \n
                            1. Deviations<\/strong><\/li>\n<\/ol>\n

                              All financial earnings of the Board of Directors members for the financial year 2025 are fully aligned with the Remuneration Policy for the members of the Board of Directors, which was approved by the Annual Regular General Meeting of the Company’s shareholders on July 22nd, 2024, as amended by the Regular General Meeting of July 10th, 2025, and by the Extraordinary General Meeting of November 4th, 2025. No deviation from the applicable approved Remuneration Policy occurred during the financial year 2025.<\/p>\n

                              The Board of Directors<\/strong><\/p>\n

                               <\/p>\n","protected":false},"excerpt":{"rendered":"

                              REMUNERATION REPORT OF THE MEMBERS OF THE BOARD OF DIRECTORS OF THE COMPANY “Y\/KNOT INVEST S.A.” FOR THE FINANCIAL YEAR 2025 (1\/1\/2025 \u2013 31\/12\/2025) Introduction \u2013 Legal Framework The present<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[783],"tags":[],"class_list":["post-25025","post","type-post","status-publish","format-standard","hentry","category-remuneration-report-of-the-bod"],"_links":{"self":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts\/25025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/comments?post=25025"}],"version-history":[{"count":2,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts\/25025\/revisions"}],"predecessor-version":[{"id":25027,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/posts\/25025\/revisions\/25027"}],"wp:attachment":[{"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/media?parent=25025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/categories?post=25025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yknot.gr\/ir\/wp-json\/wp\/v2\/tags?post=25025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}