32Transactions with members of the Board of Directors, Executive Committee and related parties

Key management compensation

As of December 31, 2023, there are no outstanding loans with members of the Board of Directors or the Executive Committee. No shares have been granted to members of the Board of Directors, the Executive Committee, or related persons, with the exception of shares granted in connection with equity-settled plans and service awards.

Transactions and balances with associates and joint ventures

In 2023, the group recorded transactions and balances with associates. Sales with associates amounted to CHF 0.5 million (2022: CHF 0.0 million), the operating expenses amounted to CHF 1.5 million (2022: CHF 2.5 million). As of December 31, 2023, loan receivables amount to CHF 2.0 million (2022: CHF 0.0 million), payables amount to CHF 0.1 million (2022: CHF 0.4 million). See note 17 for details on the investments in associates.

Transactions and balances with other related parties

In 2023, sale or other operating income with other related parties amounted to zero (2022: CHF 0.0 million), and operating expenses in relation to goods and services purchased amount to zero (2022: CHF 0.0 million). Open payables with related parties amounted to CHF 365.4 million (2022: CHF 332.0 million), of which CHF 88.1 million (2022: CHF 92.9 million) related to the purchase of treasury shares (see note 28) and CHF 277.2 million (2022: CHF 239.2 million) related to outstanding dividend payments (see note 24 and note 28). 

All related party transactions are priced on an arm’s-length basis.