In May 2010, the Board of Directors of Indutrade, in co-operation with AB Industrivärden and pursuant to a resolution by the Annual General Meeting, directed an offer to senior executives to participate in a new incentive programme. The aim of the programme is to promote management’s long-term commitment and involvement in the Company. The term of the programme extends until 31 October 2013.
Forty-nine senior executives have acquired a combined total of 358,000 stock options, issued by AB Industrivärden, and 10,000 shares. Indutrade pays a subsidy of SEK 22 for every purchased stock option and share under the condition that the participants continue to be employed and that they have not sold their purchased stock options/shares at the time of payment of the subsidy. The subsidy will be paid by the Company to the participants on two occasions in two equal parts, in December 2011 and June 2013. The total cost for the Company will amount to approximately SEK 9 million, corresponding to approximately SEK 3 million per year.
The exercise price for the call options has been set at SEK 191.44 per share, corresponding to 120% of the share price during the measurement period.
The detailed programme can be downloaded here.