Long Term Incentive Programs
The purpose of long-term incentive plans is to generate the conditions for retaining and recruiting competent personnel to the Group and to offer employees an attractive opportunity to acquire a stake in the company. In addition, the purpose is to encourage continued company loyalty by combining the interests of the shareholders and the employees. The programmes are thought to have a positive effect on the Group’s ongoing development and hence to be beneficial for shareholders and the company alike.
SHARE-RELATED INCENTIVE PROGRAMS
Share warrant program 2020 – Series 2020/2023
At the Annual General Meeting on June 24, 2020, the shareholders decided to introduce an incentive program aimed at the CEO of the company. The program has been designed as a supplementary program that is only addressed to the CEO of the company who did not participate in the Warrants Program 2018. The program comprises a maximum of 250,000 warrants and will result in a minor dilution for the company’s shareholders, as the company cancels approximately 408,000 warrants from the Warrants Program 2018. The maximum 250,000 warrants entitle to subscribe for a maximum of 370,000 shares (after completion of the rights issue in June 2020). The subscription price was set for serie 20/23 at SEK 37.0 per share.
For Serie 20/23, the current exercise price amount to SEK 30.3 per share (subscription period from May 15 to July 15, 2023) after recalculation in accordance with the program terms due to the company’s rights issue in June 2021.
For more information we refer to:
Share warrant program 2018 – Series 2018/2022 and Series 2018/2023
At an extraordinary general meeting on December 17, 2018, the shareholders decided to introduce an incentive program for all employees of the company and future key employees. The program has been designed to stimulate the company’s staff and senior executives in the longer term and to promote investments in and ownership of the company’s shares. The program comprises a maximum of 1,461,698 warrants and the program is designed so that the warrants are transferred to market value according to a Black & Scholes calculation performed by Grant Thornton Sweden AB. At the end of each program, each warrant entitles the holder to subscribe for one new share in Isofol at a valid exercise price. The subscription price were set for series 18/22 at SEK 51.3 per share and for 18/23 at SEK 76.9 per share.
For Series 18/22, the current exercise price amounts to SEK 28.3 per share (subscription period from May 15 to July 15, 2022) and for Series 18/23 the exercise price is SEK 42.5 per share (subscription period from May 15 to July 15, 2023) after recalculation in accordance with the program terms due to the company’s rights issues in June 2020 and June 2021.
Last updated 03-02-2022