At the general meeting on May 4, 2023, a long-term share-based incentive program (LTIP 2023) was decided. LTIP 2023 is aimed at group management and other key employees and includes both a performance-based plan and also a matching program. 

For the performance-based plan, performance targets have been established regarding the development of earnings per share as well as a target related to the reduction of CO2. The former is determined yearly during the term of the program. The relative distribution between the EPS target and the CO2 target of the maximum allocation of performance shares is 90 percent and 10 percent, respectively. The performance targets, which are decided by the board, must indicate a minimum level and an upper target level for each performance target. If the upper target level is reached or exceeded, full allocation of performance shares shall take place, corresponding to: (i) five performance shares per savings share to the CEO, Regional President Europe, Regional President USA and Group CFO respectively, (ii) four performance shares per savings share to other members of the group management and (iii) ) three performance shares per savings share for other participants.

LTIP 2023 will cause personnel costs during the Vesting Period partly in the form of accounting salary costs, partly in the form of social security contribution.