Incentive Programme
Employee options programme 2008/2012
In accordance with the board´s proposal, the AGM 2008
resolved to adopt an incentive programme comprising of a total
maximum of 1,450,000 employee options (Sw. personaloptioner) and to
issue 1,920,090 warrants to the subsidiary BioInvent Finans AB,
free of charge, in order to secure the company´s commitment
under to the incentive program and the social security
contributions connected therewith. BioInvent Finans AB has
subscribed all the warrants. Each employee option entitles the
holder to subscribe to a new share at a subscription price of SEK
26.84. Basic allotment is determined according to the following
guidelines: (i) 7,500 employee options to the CEO, members of
management, the Heads of a section and persons with other key
positions (app. 15 persons), except for members of management
without a substantial shareholding in the company, who will receive
30,000 employee options, and (ii) 3,750 employee options to other
employees (app. 90 persons). Further, extra allotment may be
obtained based on performance according to the following
guidelines: (i) maximum 15,000 employee options each year 2009-2011
to the CEO and other members of management, (ii) maximum 7,500
employee options each year 2009-2011 to Heads of sections and other
key employees and (iii) maximum 3,750 employee options for 2010 to
other employees. The employee options will be allotted free of
charge and the holders shall be entitled to exercise 50 per cent of
basic-allotted options as from the three-year anniversary from the
allotment and remaining 50 per cent as from the four-year
anniversary from the allotment. The holders shall be entitled to
exercise extra-allotted options as from the AGM of 2012. The last
day for exercising the employee options shall be December 1,
2012.
A basic allocation of 498,750 employee options took place during 2008. Extra allotment of 69,750 employee options took place during February 2009.