Share-based programmes in 2010 

Option programme

The Group has an option program introduced in 1999, however the last options granted under this programme were granted in 2007 and there is currently no intention to issue any new options in the future.

Two share-award programmes

Two share-based programmes, i.e. the Regular Performance Share Program and the Early Career Talents Restricted Share Program, were launched in 2010. 

1.) 2010 Regular Performance Share Programme
The Regular Performance Share Program will deliver awards over a three-year period starting 1 March 2011, based on the Group performance during each of the preceding financial years. If the target is not reached no shares will be granted, but if the target is exceeded, up to 150% of the granted shares can be delivered. The target is set annually by the Remuneration Committee and is for 2010 based on reaching target levels for the Group Return on Capital Employed (ROCE). A total number of 500 awards and 1 325 000 shares were granted in 2010. The delivery can then vary according to the company result between 0 – 1 987 500 shares.

The right to undelivered shares is lost if the employee resigns his position or employment is terminated by the company.

2.) 2010 Early Career Talents Restricted Share Programme
A Restricted Share program was launched in 2010 to target individuals in lower levels of the organisation who have performed on a high level and are showing potential to take on more senior positions within the company in the future.  The size of this program is  maximum 100 awards and 75 000 shares. The awards will be delivered in March 2013.Typical award size is 525 -1 050. The right to shares is lost if the employee resigns or employment is terminated by the company before date of delivery.