Long-term share based incentive plan 2021
The AGM in May 2021 resolved in accordance with the proposal from the board on a long-term share-based incentive plan (LTIP 2021) and hedging measures in accordance with the below.
LTIP 2021 comprises approximately 30 employees consisting of senior executives and other key employees. The participants are allocated performance based share rights, which provide the participant with a right to acquire shares. Following the defined vesting period, the participants will, free of charge, be allocated shares in the company provided that certain conditions are fulfilled. Allocation of shares presupposes, with certain limited exceptions, the participant to remain employed within the Enea Group during the vesting period. In addition, a pre-requisite for the allocation of shares is that certain performance targets are fulfilled by Enea concerning Enea’s development in earnings per share. The maximum number of shares in the company, which may be allocated in total under the LTIP 2021 shall be limited to 243,000, which represents approximately 1.1 percent of all outstanding shares and votes in the company.
In order to secure delivery of shares to the participants in LTIP 2021, the Annual General Meeting further resolved on hedging measures by way of (i) amendment of the Articles of Association in order to enable issues of series C shares, (ii) to authorize the board to resolve on directed issues of series C shares, whereby the new shares, with deviation from the shareholders' preferential rights, only may be subscribed for by a bank or a securities company at a subscription price which corresponds to the quota value of the shares; (iii) to authorize the board to resolve to repurchase own series C shares; and (iv) to approve transfer of own ordinary shares to the participants under LTIP 2021.
More information about the program can be found at material for the Annual General Meeting
