Guidelines for remuneration to senior executives
Below are documents containing guidelines for remuneration to senior executives adopted by the 2024 Annual General Meeting as well as Logistea’s remuneration reports.
Incentive programs (LTIP)
Logistea currently has four incentive programs (LTIP 2021/2025, LTIP 20203/2026, LTIP 2024/2027 and LTIP 2025/2028) based on warrants. All warrants (regardless of series) entitle the holder to subscribe for one (1) new ordinary class B share in the Company. All four programmes require that the participant is employed for the entire duration of the programme.
Warrant program 2021/2025
At an Extraordinary General Meeting of the Company on 22 October 2021, it was resolved to implement an incentive program for existing and future senior executives, key employees and employees of the Company (“Incentive Program 2021/2025”). The Board’s reason for the proposal was that the employees through the introduction of an incentive program are expected to have a personal and long-term ownership commitment, which is expected to lead to an increased interest in the business and earnings development, increase motivation, that the Company is expected to be able to retain and recruit competent and committed staff and an increased shareholder value for all shareholders.
The program comprises a maximum of 4,180,000 warrants entitling to subscription of a maximum of 4,180,000 new Class B shares in the Company. The right to acquire the warrants was granted, with deviation from the shareholders’ preferential rights, the following allotment categories: (i) CEO and Deputy CEO: not more than 2,090,000 warrants, corresponding to a maximum of 1,045,000 warrants per participant; (ii) senior executives, CFO and COO: not more than 960,000 warrants, corresponding to a maximum of 480,000 warrants per participant; (iii) key employees including consultants: a maximum of 800,000 warrants corresponding to a maximum of 200,000 warrants per participant and (iv) other employees: a maximum of 330,000 warrants corresponding to a maximum of 55,000 warrants per participant. As consideration for the warrants, the warrant holders have paid SEK 2.06 per warrant during the allotment date. The option price is calculated according to the Black & Scholes valuation model.
Warrant program 2023/2026
At the Annual General Meeting of the Company on 5 May 2023, it was resolved to implement a new incentive program for existing and future senior executives, key employees and employees in the Company (“Incentive Program 2023/2026”). The Board’s reason for the proposal was that the employees through the introduction of an incentive program are expected to have a personal and long-term ownership commitment, which is expected to lead to an increased interest in the business and earnings development, increase motivation, that the Company is expected to be able to retain and recruit competent and committed staff and an increased shareholder value for all shareholders.
The program comprises a maximum of 1,640,000 warrants entitling to subscription of a maximum of 1,640,000 new Class B shares in the Company. The right to acquire the warrants was granted, with deviation from the shareholders’ preferential rights, the following allotment categories: (i) CEO and Deputy CEO: a maximum of 440,000 warrants corresponding to a maximum of 286,000 warrants per participant; (ii) other management team: a maximum of 640,000 warrants corresponding to a maximum of 208,000 warrants per participant; (iii) other senior executives: a maximum of 240,000 warrants corresponding to a maximum of 104,000 warrants per participant and (iv) other employees and key employees: a maximum of 320,000 warrants corresponding to a maximum of 52,000 warrants per participant. As consideration for the warrants, the warrant holders have paid SEK 1.15 per warrant during the allotment date. The option price is calculated according to the Black & Scholes valuation model.
Warrant program 2024/2027
At the Annual General Meeting of the Company on 3 May 2024, it was resolved to implement a new incentive program for existing and future senior executives, key employees and employees in the Company (“Incentive Program 2024/2027”). The Board’s reason for the proposal was that the employees through the introduction of an incentive program are expected to have a personal and long-term ownership commitment, which is expected to lead to an increased interest in the business and earnings development, increase motivation, that the Company is expected to be able to retain and recruit competent and committed staff and an increased shareholder value for all shareholders.
The program comprises a maximum of 630,000 warrants entitling to subscription of a maximum of 630,000 new Class B shares in the Company. The right to acquire the warrants was granted, with deviation from the shareholders’ preferential rights, the following allotment categories: (i) CEO and Deputy CEO: 180,000 warrants, but not more than 135,000 warrants per participant; (ii) Other management team: 280,000 warrants, but not more than 105,000 warrants per participant; (iii) other senior executives: 90,000 warrants, but not more than 45,000 warrants per participant, and (iv) other employees and consultants: not more than 80,000 warrants, but not more than 15,000 warrants per participant. As consideration for the warrants, the warrant holders have paid SEK 1.55 per warrant during the grant date. The option price is calculated according to the Black & Scholes valuation model.
Warrant program 2025/2028
At the Annual General Meeting of the Company on 9 May 2025, it was resolved to implement a new incentive program for existing and future senior executives, key employees and employees in the Company (“Incentive Program 2025/2028”). The Board’s reason for the proposal was that the employees through the introduction of an incentive program are expected to have a personal and long-term ownership commitment, which is expected to lead to an increased interest in the business and earnings development, increase motivation, that the Company is expected to be able to retain and recruit competent and committed staff and an increased shareholder value for all shareholders.
The program comprises a maximum of 850,000 warrants entitling to subscription of a maximum of 850,000 new Class B shares in the Company. The right to acquire the warrants was granted, with deviation from the shareholders’ preferential rights, the following allotment categories: (i) CEO and Deputy CEO: 180,000 warrants, but not more than 150,000 warrants per participant; (ii) other management team: 420,000 warrants, but not more than 115,000 warrants per participant; (iii) other senior executives: 120,000 warrants, but not more than 50,000 warrants per participant, and (iv) other employees and consultants: not more than 130,000 warrants, but not more than 20,000 warrants per participant. As consideration for the warrants, the warrant holders have paid SEK 1.41 per warrant during the allotment date. The option price is calculated according to the Black & Scholes valuation model.
