Remuneration of senior executives

2017 (adopted at the Annual General Meeting on May 23, 2017)

2016 (adopted at the Annual General Meeting on May 10, 2016)


Incentive programs

Saniona does not have any incentive programs for senior executives.

The company has currently the following employee option programs:

  • Employee Option Program 2015-2019: The Annual General Meeting of May 20, 2015 decided to establish an employee option program for certain employees and key consultants in the Saniona Group in Denmark. The employee option program includes a maximum of 64,000 employee options. Each employee option entitles the holder to acquire one new share in the Company at a strike price of SEK 20.72 corresponding to 100 per cent of the average closing price of the Company’s share on Aktietorget for the ten trading days following the Annual General Meeting in 2015. The employee options are progressively vested over a period of 48 months. With certain exceptions linked to Danish labor law, vesting requires the participant being employed in the Saniona Group at each earning date. The exceptions linked to Danish labor law means that the employment requirement as a condition for vesting is not maintained if the employment expires due to the termination of the employment by Saniona without the employee violating the employment conditions; if the employment expires due to the employee terminating the employment as a result of Saniona substantially violating the employment conditions; or if the employment is terminated because of the employee’s retirement or invalidity. Vested employee options can be exercised for 30 days from the day following the publication of Saniona’s quarterly reports, or in terms of full year, the year-end report - the first time following the publication of the quarterly report for the first quarter of 2018, and the last time following the publication of the quarterly report for the third quarter of 2019. If Saniona does not issue quarterly or full year reports after the end of any calendar quarter, allotted and vested employee options can instead be exercised during the last month of the following calendar quarter, the first time in June 2018 and the last time in December 2019. In order to enable Saniona to deliver shares in accordance with the employee option program, the Annual General Meeting resolved on a directed issue of no more than 64,000 warrants to a subsidiary in the Saniona Group and decided to approve that the warrants be transferred free of charge to participants in the employee option program in connection with the exercise of employee options. Upon full exercise of all warrants issued under the program, dilution for shareholders will amount to approximately 0.3 percent. The options are subject to customary recalculation provisions connection with new share issues and etc.