Remuneration to the Board of Directors
Remuneration for the Board members was resolved on the Annual General Meeting (AGM) on May 25, 2022.
The AGM resolved that Board fees shall amount to a maximum of SEK 600,000 per year, in accordance with the following. The chairman of the Board will receive SEK 200,000 and each of the other Board members elected by the AGM will receive SEK 80,000.
Remuneration to the senior management
The Annual General Meeting on May 25, 2022 resolved to adopt guidelines for remuneration to the senior management.
Remuneration to senior managenent must be market-based and may consist of the following components: fixed cash salary, variable cash remuneration, pension benefits and other benefits. In addition - and independently of these guidelines - the Annual General Meeting may decide on, for example, share and share price-related remuneration. The total remuneration to the executive shall comprise a balanced mix of the above-mentioned components and conditions upon notice as well as severance pay. The board of directors shall annually evaluate whether share-related or share price-related long-term incentive programs shall be proposed to the general meeting. The fixed cash salary shall be individual and relate to the relevant person’s responsibilities and experience.
Cinis Fertilizer currently has one incentive programme based on outstanding warrants. The shareholders’ meeting resolved on 17 September 2021 to issue 70,000 warrants in the Company to be transferred to board members and employees of Cinis Fertilizer. The transfers were made based on the market price according to the Black-Scholes model. For more information, please see the Annual Report.