Principles for Remuneration
Long-term incentive program
Since 2005, the Board of Directors has annually resolved on a long-term incentive program for the President and for senior executives considered to have a significant influence on the Trelleborg Group’s earnings per share. These programs are rolling on three years at the time. The Board determines annually whether to introduce new programs and, if so, the scope, objective, and participants. The long-term incentive programs have been cash-based supplement to the annual variable salaries, provided that the executives have not terminated their employment as per December 31 in the year when the program ends.
Remuneration to the Group Management 2022
SEK 000S | Fixed salary | Annual variable salary | Long Term Incentive program 1) | Other Benefits | Total | Pension | Total including pension | |
---|---|---|---|---|---|---|---|---|
President | 2022 | 12,317 | 7,279 | 7,559 | 220 | 27,375 | 5,363 | 32,738 |
2021 | 11,917 | 8,956 | 4,614 | 221 | 25,708 | 5,181 | 30,899 | |
Group Management, others (6 persons) | 2022 | 24,859 | 13,114 | 13,321 | 1,223 | 52,517 | 5,784 | 58,301 |
2021 | 24,401 | 13,233 | 5,461 | 1,124 | 44,219 | 5,574 | 49,793 | |
Total | 2022 | 37,176 | 20,393 | 20,880 | 1,443 | 79,892 | 11,147 | 91,039 |
Total | 2021 | 36,318 | 22,189 | 10,075 | 1,345 | 69,927 | 10,755 | 80,682 |
1) Expensed in 2022. Payment is made in the first quarter, 2023 to 2025, on condition that the individual is employed in the Group on December 31 of the preceding year.
In November 2018, the principal owner – The Henry Dunker Donation Fund & Foundations – offered Trelleborg’s Group management 12,500 call options each, except the President and CEO who was offered 50,000 call options, in Trelleborg, with a term of five years. They purchased these call options at a price of SEK 9.86 per call option. Each call option entitles the holder to purchase one Series B share at a call price of SEK 175.83. The Black & Scholes method was used in the valuation of the call options. The principal owner’s intention in introducing the program was to encourage the Group management’s long-term commitment to the company. Trelleborg AB did not participate in the offer and will not have any expenses in connection with the offer.
Remuneration to the Board of Directors 2022
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|
|
2022*
|
---|---|---|---|
SEK 000s |
Board | Committee | Total |
Hans Biörck | 1,975 | 410 | 2,385 |
Gunilla Fransson | 675 | 275 | 950 |
Monica Gimre | 675 | 160 | 835 |
Johan Malmquist | 675 | 180 | 855 |
Peter Nilsson | - | - | - |
Anne Mette Olesen | 675 | 90 | 765 |
Jan Ståhlberg | 675 | 250 | 925 |
Jimmy Faltin | - | - | - |
Lars Pettersson | - | - | - |
Maria Eriksson | - | - | - |
Magnus Olofsson | - | - | - |
*Remuneration to the Board for the May 2022–April 2023 period. The fees paid to the members of the Board of Directors elected by the Annual General Meeting are approved by the Annual General Meeting based on the proposals of the Nomination Committee. For the 2022 calendar year, remuneration was paid as per Note 10. No consulting fees were paid to the Board members. Remuneration is not paid to executive Board members. Remuneration excludes travel allowances.