Long Term Share-based incentive programme for 2023/24
11 July 2023 - 2:08AM
Long Term Share-based incentive programme for 2023/24
Pursuant to Bang & Olufsen A/S’ Remuneration Policy, the
Board of Directors has approved the long-term restricted share
program for 2023/24. The program consists of restricted share-based
remuneration to the Executive Management Board, key employees and
certain other employees.
Two thirds of the restricted shares are Performance Shares that
are eligible for vesting in equal tranches over the three financial
years 2023/24, 2024/25 and 2025/26 depending on the level of
achievement of certain KPIs defined by the Board of Directors for
each performance year. The KPI metrics for 2023/24 relates to Bang
& Olufsen A/S’ revenue and EBIT (before special items) in
2023/24.
The remaining shares are Retention Shares, which are subject to
the participants’ continued employment with the Bang & Olufsen
group and satisfactory people review ratings in the course of the
three-year period. The Retention Shares also vest in three equal
tranches over the period.
The maximum number of shares that the participants will be able
to receive pursuant to the programme is 7,707,401. Any vested
restricted shares will be released after the general meeting’s
approval of the annual report for 2025/26, provided vesting and
release may be accelerated in certain extraordinary events as
described in the company’s remuneration policy.
Based on the volume-weighted average price of the company’s
shares traded on Nasdaq Copenhagen since the publication of the
2022/23 Annual Report, the total value of the restricted shares for
all participants per today's date can amount to DKK 39.9m assuming
achievement of target level performance.
For further information, please contact:
Cristina Rønde HeftingInvestor RelationsPhone: +45 4153 7303
Jens GamborgGlobal sustainability and Communications Phone: +45
2496 9371
Bang & Olufsen A/s (LSE:0MRM)
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