Long Term Incentive Programs
Billerud has implemented long term incentive programs for the Senior Management and other key employees within the group. The main objective of the programs is to strengthen Billerud’s capability to retain the best talent for key leadership positions.
The main objective of the programs is to strengthen Billerud’s capability to attract and retain the best talent for key leadership positions. The aim is further that managers and key employees whose efforts have direct impact on Billerud's result, profitability and value growth, shall be stimulated to increased efforts by aligning their interests and perspectives with those of the shareholders. There are currently three programs in force, LTIP 2022, LTIP 2021 and LTIP 2020.
The details of the programs may vary from year to year, but a common denominator is that participation in the programs requires that the participants have made an own investment in shares in the company. The programs run with a three-year vesting period. At vesting, the participants can receive, free of charge, a certain amount of shares in the company on the condition that certain targets (primarily financial targets) have been met. A further condition is that the participant remains employed by the group at the end of the vesting period and that the private investment of shares (that was a condition to participation) has been retained.
For further information about the programs, such as terms, participation, number of shares for the programs etc., refer to the full proposals for each program that can be found under General Meetings, or refer to the Annual Reports of Billerud.