LTIP 2022
The Annual General Meeting on 5 May 2022 passed a resolution regarding a
new long-term incentive programme with a vesting period running from 2022
to 2024
The offer is aimed at senior executives and other key personnel in the
Bravida Group. Participation in LTIP 2022 requires participants to own a
certain number of shares in Bravida throughout the term of the programme
and requires that they are employed by Bravida for the etire period. For
each share (Bravida share) held by participants under LTIP 2022, the
Company will allocate, at no cost, a maximum of three (3) or five (5) new
shares in Bravida to the participants. The number of shares allocated
depends on the extent to which the defined performance target is met. The
defined performance target is that the 2024 earnings (EBITA) of the Group
are at least SEK 1,855,480,000 to achieve full allocation. For any shares
to be allocated at all, a minimum level must be exceeded. This minimum
level is set at 85 percent of the target figure of SEK 1,855,480,000. All
participants have the same performance targets. Any allocation takes place
after the first interim report for 2025 has been published.
The CEO may participate with Bravida shares corresponding to a value of SEK
300,000 at the starting point, the CFO may participate with Bravida shares
corresponding to a maximum value of SEK 240,000, other members of the Group
management may participate with Bravida shares corresponding to a maximum
value of SEK 200,000, regional managers may participate with Bravida shares
corresponding to a maximum value of SEK 50,000, branch managers whose
branches on average during the last three years have earned more than 7
percent Group-EBITA and had sales of more than SEK 50 million may
participate with Bravida shares corresponding to a value of SEK 50,000,
branch managers whose branches on average during the last three years have
earned more than 4 percent Group-EBITA (but less than 7 percent) and had
sales of more than SEK 30 million (but less than SEK 50 million) may
participate with Bravida shares corresponding to a value of SEK 30,000. In
addition, certain other executives at the Group, divisional or regional
level and certain key employees may participate with Bravida shares
corresponding to either a maximum value of SEK 30,000 or a maximum value of
SEK 50,000.
If the maximum outcome is achieved, and all invested Bravida shares are
retained in accordance with LTIP 2022 and the performance-based conditions
are fulfilled to 100 percent, the maximum cost for LTIP 2022 will amount to
approximately SEK 46 million in accordance with IFRS 2 and the cost for
social security contributions will amount to approximately SEK 10 million.