From time to time, senior officers may be offered to participate in a LTI program.
There was an LTI program for the business plan period 2021-2023 with annual reconciliations with operating margin targets for the Group. The program was open to approximately 600 of the Group’s key employees. In order for an employee to receive their share of the result of the LTI program the employee had to still be working for Peab on December 31, 2023.
For senior officers and the CEO the upper limit (excluding social security) was 40 percent of their basic pay. For other positions the upper limit (excluding social security) was 15-35 percent of their annual basic pay, depending on their position. The outcome of the LTI program was placed in a pension savings connected to the Peab share alternatively paid as cash salary. No provisions were made for an LTI program for the years 2022 and 2023.
For 2024 the Board of Directors proposes that the AGM decide on a long-term incentive program for members of executive management, other senior officers and key personnel in the Peab Group (LTI 2024). The purpose of the LTI 2024 is to link employees’ remuneration to future profit and value development and thereby put a premium on shareholders and relevant employees. A long-term incentive program is also expected to facilitate recruiting and keeping key personnel. The LTI 2024 is proposed to comprise around 600 participants.