At the Annual General Meeting (AGM) on 6 May 2025, a new long-term savings share-based incentive program (LTIP 2025) was resolved. LTIP 2025 is aimed at Group Management and other key employees and is based on the same principles as previous programs (LTIP 2018, LTIP 2021 and LTIP 2023). For the performance-based plan, performance targets have been set for the development of earnings per share and a target related to CO2 reduction, the former of which is determined annually during the term of the program. The relative distribution between the EPS target and the CO2 target of the maximum allotment of Performance Shares is 84 per cent and 16 per cent, respectively. The performance targets, which are decided by the Board of Directors, shall specify a minimum level and an upper target level for each performance target. If the upper target level is reached or exceeded, full allotment of performance shares shall take place, corresponding to: (i) five performance shares per saving share to the CEO, Regional Manager Europe, Regional Manager USA and Group CFO, respectively, (ii) four performance shares per savings share to the other members of Group Management and (iii) three performance shares per savings share for other participants.

LTIP 2025 will give rise to personnel costs during the vesting period, partly in the form of accounting salary costs and partly in the form of social security contributions. 

For details about previous long-term incentive plans, reference is made to the notice to the Annual and Sustainability Reports as well as notice to AGMS for 2018, 2021, 2023 and 2025.