The variable remuneration of senior management shall normally not exceed 7 month's salary and and may amount to a maximum of SEK 14 million in the aggregate. The remuneration is to be linked to the degree of success in improving the results for the Company and for the different business areas and the growth of the Indutrade group.
In April 2014 the Annual General Meeting of Indutrade AB resolved to introduce a long-term incentive programme (LTI 2014), comprising a combined maximum of 460,000 warrants in two series for senior executives and other key persons in the Indutrade Group. A total of 285,000 warrants were subscribed. Following the bonus issue in May 2016, each warrant carries entitlement to subscribe for three shares. The subscription price for Series I has been recalculated to SEK 118.80 per share, and the subscription price for Series II has been recalculated to SEK 116.70 per share. During the period 249,100 warrants for 747,300 shares were exercised, entailing that 747,300 new shares have been subscribed. Shares can be subscribed during specially stipulated subscription periods through Friday, 18 May 2018.
In April 2017 the Annual General Meeting of Indutrade AB resolved to introduce a long-term incentive programme (LTI 2017), comprising a combined maximum of 704,000 warrants in two series for senior executives and other key persons in the Indutrade Group. During the period the participants subscribed for a total of 526,000 warrants within the framework of Series I. The price per warrant was SEK 15.00, and the subscription price was set at SEK 244.90 per share. Upon full exercise the number of shares outstanding will increase by 704,000, corresponding to 0.6% of the total number of shares and votes.
The warrants entailed a dilutive effect of 0.19% (0.19%) during the quarter, 0.21% (0.18%) during the interim period January–June, and 0.21% (0.14%) for the last 12 months.