Remuneration for Executive management
The remuneration for executives can consist of fixed cash salary, variable cash remuneration, pension and insurance benefits, and other customary benefits. Additionally, the General Meeting may irrespective of these guidelines resolve on, among other things, long-term share-based or share-related incentive programs/remuneration. The Board of Directors decide at its discretion, according to established internal performance-based goals, whether a variable cash remuneration should be paid to the executives.
During 2023, the CEO and CFO were granted a variable salary for the financial year 2022 corresponding to 42 percent of the fixed annual salary. During the beginning of 2024, the board has granted the CEO and CFO variable salary of 50 percent, of the fixed annual salary for the financial year 2023.
The CEO and CFO have individually premium based pension plans, of which the Company pays premiums corresponding to 4.5 per cent of the fixed salary up to 7.5 income base amount and premiums of 30 per cent of the fixed salary for the amount of salary that exceeds 7.5 income base amount.