Incentive program

The company has three long-term incentive programs in the form of warrant programs.

Warrant program 2023

At the annual shareholders’ meeting held on 11 May 2023, it was resolved to implement a long term incentive program and to issue warrants. Maximum 41 senior executives are entitled to participate in the program and the participants are divided into five categories.

In total, the share issue comprises no more than 895,627 warrants, entitling to subscription of the corresponding amount of new ordinary shares in the company. The participants have been invited to acquire warrants at market value, calculated in accordance with the Black-Scholes valuation model. The allocation is dependent on which category the participant belongs to.

The warrants have an exercise price per share corresponding to 115 percent of the average volume weighted price of the company’ closing price 10 trading days following the date of the annual shareholders meeting 2023. The subscription price is set at SEK 42,50 per share. The warrants may be exercised during two periods; during two weeks from the day of publication of the interim statement for the period 1 January – 31 March 2026 as well as during two weeks from the day of publication of the interim statement for the period 1 January – 31 September 2026. If, at the time of subscription of shares, the closing price, on the trading day immediately preceding the subscription, exceeds 200 percent of the exercise price, the exercise price shall be increased by the above mentioned price to the extent that it exceeds 200 percent of the exercise price.

Warrant program 2022

At the annual shareholders’ meeting held on 12 May 2022, it was resolved to implement a long term incentive program and to issue warrants. Maximum 40 senior executives are entitled to participate in the program and the participants are divided into five categories.

In total, the share issue comprises no more than 944,000 warrants, entitling to subscription of the corresponding amount of new ordinary shares in the company. The participants have been invited to acquire warrants at market value, calculated in accordance with the Black-Scholes valuation model. The allocation is dependent on which category the participant belongs to.

The warrants have an exercise price per share corresponding to 115 percent of the average volume weighted price of the company’ closing price 10 trading days following the date of the annual shareholders meeting 2022. The subscription price is set at SEK 56.20 per share. The warrants may be exercised during two periods; during two weeks from the day of publication of the interim statement for the period 1 January – 31 March 2022 as well as during two weeks from the day of publication of the interim statement for the period 1 January – 31 September 2022. If, at the time of subscription of shares, the closing price, on the trading day immediately preceding the subscription, exceeds 200 percent of the exercise price, the exercise price shall be increased by the above mentioned price to the extent that it exceeds 200 percent of the exercise price.

Warrant program 2021

At the annual shareholders’ meeting held on 12 May 2021, it was resolved to implement a long term incentive program and to issue warrants. Maximum 34 senior executives are entitled to participate in the program and the participants are divided into five categories.

In total, the share issue comprises no more than 956,148 warrants, however, corresponding to a maximum total investment by the participants of SEK 5,450,000, entitling to subscription of the corresponding amount of new ordinary shares in the company. The participants have been invited to acquire warrants at market value, calculated in accordance with the Black-Scholes valuation model. The allocation is dependent on which category the participant belongs to.

The warrants have an exercise price per share corresponding to 115 percent of the average volume weighted price of the company’ closing price 10 trading days following the date of the annual shareholders meeting 2021. The subscription price is set at SEK 77,90 per share. The warrants may be exercised during two periods; during two weeks from the day of publication of the interim statement for the period 1 January – 31 March 2022 as well as during two weeks from the day of publication of the interim statement for the period 1 January – 31 September 2022. If, at the time of subscription of shares, the closing price, on the trading day immediately preceding the subscription, exceeds 200 percent of the exercise price, the exercise price shall be increased by the above mentioned price to the extent that it exceeds 200 percent of the exercise price.