Flügger A/S offers share option scheme to its Executive Board and an extended share option scheme to CEO Jimmi Mortensen
Flügger’s Executive Board is being offered shares in the company with a vesting period of three years. At the same time, CEO Jimmi Mortensen is being awarded 25,000 share options, which can be exercised on condition that Flügger has achieved specific revenue and earnings targets by the end of FY 2020/21.
The Board of Directors and the Flügger Group’s majority shareholder Ulf Schnack have for some time been wanting to offer share option schemes to senior executives in the group, and Flügger A/S has therefore been acquiring treasury shares for this purpose for several years.
Executive Board offered share option scheme
The Executive Board is being awarded shares based on the seniority and salary level of the individual executives. The vesting period is three years. The shares are being allocated as follows:
|Title||No. of shares|
|Chief Operations Officer||600|
|Chief Financial Officer||600|
CEO Jimmi Mortensen offered extended share option scheme
The Board of Directors and the majority shareholder Ulf Schnack have also decided to award CEO Jimmi Mortensen a total of 25,000 share options at an exercise price of DKK 300, which can be exercised provided that the group has achieved specific revenue and earnings targets by the end of FY 2020/21. The share options are non-binding.
Carl Trock, Chairman of Flügger A/S, says:
“The Board of Directors is delighted to now be able to extend the share option scheme to also include the Executive Board of Flügger A/S. The incentive programmes recognise the management’s efforts but, as the name implies, it is of course also intended as an incentive for the management to commit to Flügger for the long term and to create efficiency and profitable growth in the group in the coming years.”