Posted in | News | Mining Business

Sandviks Board Proposes AGM to Resolve Long-Term Incentive Program

Sandviks Board of Directors propose that the Annual General Meeting resolve on a long-term incentive program for 2013 (LTI 2013) encompassing approximately 350 senior executives and key individuals within the Group, on substantially the same terms and conditions as the 2011 and 2012 long-term incentive programs.

Participants are offered allotment of employee stock options that entitle the holder to acquire Sandvik shares after three years at a set exercise price, on condition that certain performance targets are met. For some executives in more senior positions, a personal investment in Sandvik shares will also be required to gain entitlement to allotment of employee stock options and matching rights which entitle the holder to acquire Sandvik shares after three years at a set exercise price.

LTI 2013 comprises a maximum of 12,000,000 Sandvik shares, corresponding to approximately 1% of the total number of shares in the company The Board of Directors does not at present intend to take measures to hedge the program to ensure the delivery of Sandvik shares. Assuming a share price of 100 SEK, expected volatility of 40% and a five-year term, the cost of LTI 2013 is estimated at approximately 241 MSEK.

Citations

Please use one of the following formats to cite this article in your essay, paper or report:

  • APA

    Sandvik AB. (2019, February 18). Sandviks Board Proposes AGM to Resolve Long-Term Incentive Program. AZoMining. Retrieved on January 27, 2023 from https://www.azomining.com/News.aspx?newsID=7725.

  • MLA

    Sandvik AB. "Sandviks Board Proposes AGM to Resolve Long-Term Incentive Program". AZoMining. 27 January 2023. <https://www.azomining.com/News.aspx?newsID=7725>.

  • Chicago

    Sandvik AB. "Sandviks Board Proposes AGM to Resolve Long-Term Incentive Program". AZoMining. https://www.azomining.com/News.aspx?newsID=7725. (accessed January 27, 2023).

  • Harvard

    Sandvik AB. 2019. Sandviks Board Proposes AGM to Resolve Long-Term Incentive Program. AZoMining, viewed 27 January 2023, https://www.azomining.com/News.aspx?newsID=7725.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
Your comment type
Submit