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Incentive program

Long term incentive program ("LTIP")

LTIP 2021

The AGM held on 26 April 2021 decided on a new Long Term Incentive Program to succeed from 2021 until the AGM 2024.

Senior executives and other key employees within the Bravida group are offered to participate in LTIP 2021. To participate in LTIP 2021, the participant is required to own a certain number of shares in Bravida throughout the term and also be employed in Bravida throughout the period. Each participant may be rewarded a minimum of one (1), and a maximum of three (3) alternatively five (5) new Bravida shares, free of charge, for each share the participant owns within the LTIP 2021. The number of shares rewarded depends on how well the performance target is met. The performance target is a minimum level of the 2023 earnings (EBITA) for the Group. All participants have the same performance target. Any allotment will occur after the first interim report for 2024 is released.

The CEO may participate with shares equating to SEK 300,000 when starting, the CFO with shares equating to SEK 240,000 SEK, other members of the Group Management with shares equating to SEK 200,000 and Regional Managers with shares equating to a maximum of SEK 50,000. Department managers and branch managers, whose departments or branches have earned more than 7 per cent Group EBITA and have had a turnover over SEK 50 million over the last three years may participate with shares equating up to SEK 50,000. Department managers and branch managers, whose departments or branches have earned more than 4 per cent Group EBITA (but less than 7 per cent) and have had a turnover SEK 30 million (but less than SEK 50 million) over the last three years may participate with shares equating up to SEK 30,000. Certain other managers on group, division or regional level as well certain key persons may participate with shares equating to either up to SEK 30,000 or up to SEK 50,000.

If the maximum result is reached, and all invested Saving Shares are retained under LTIP 2021 and a fulfilment of the performance conditions of 100 per cent, the maximum cost of LTIP 2021 as defined in IFRS 2 is approximately SEK 46 million and the maximum social security cost is estimated to approximately SEK 10 million.

LTIP 2020

The extraordinary general meeting held on 23 October 2020 decided on a new Long Term Incentive Program to succeed from 2020 until the AGM 2023. 

Primarily Regional Managers and Branch Managers are offered to participate in LTIP 2020. To participate in LTIP 2020, the participant is required to own a certain number of shares in Bravida throughout the term and also be employed in Bravida throughout the period. Each participant may be rewarded a minimum of one, and a maximum of five new Bravida shares for each share the participant owns within the LTIP 2020. The number of shares rewarded depends on how well the performance target is met. The performance target is a certain minimum level of the 2022 earnings (EBITA) for the Group. All participants have the same performance target. Any allotment will occur after the first quarterly report for 2023 is released.

The CEO may participate with shares equating to a maximum of SEK 300,000 when starting, the CFO with shares equating to SEK 240.000, other members of the Group Management with shares equating to SEK 200,000, Regional Managers and Branch Managers whose branches has a turnover of a minimum SEK 50 million and has an EBITA margin over 7 percent may participate with shares equating to a maximum of SEK 50,000, and Branch Managers whose branches has a turnover of a minimum SEK 30 million and has an EBITA margin over 4 percent may participate with shares equating to a maximum of SEK 30,000.

In addition, a smaller number of other staff members and other identified key-persons have been invited to invest in the program.

If the maximum result is reached, and all invested Saving Shares are retained under LTIP 2020 and a fulfilment of the performance conditions of 100 per cent, the maximum cost of LTIP 2020 as defined in IFRS 2 is approximately SEK 45.8 million and the maximum social security cost is estimated to approximately SEK 10 million.

LTIP 2019

The extraordinary general meeting held on 3 June 2019 decided on a new Long Term Incentive Program to succeed from 2019 until the AGM 2022. 

Primarily Regional Managers and Branch Managers are offered to participate in LTIP 2019. To participate in LTIP 2019, the participant is required to own a certain number of shares in Bravida throughout the term and also be employed in Bravida throughout the period. Each participant may be rewarded a minimum of one, and a maximum of five new Bravida shares for each share the participant owns within the LTIP 2019. The number of shares rewarded depends on how well the performance target is met. The performance target is a certain minimum level of the 2021 earnings (EBITA) for the Group. All participants have the same performance target. Any allotment will occur after the first quarterly report for 2022 is released.

The CEO may participate with shares equating to a maximum of SEK 300,000 when starting, the CFO with shares equating to SEK 240.000, other members of the Group Management with shares equating to SEK 200,000, Regional Managers and Branch Managers whose branches has a turnover of a minimum SEK 50 million and has an EBITA margin over 7 percent may participate with shares equating to a maximum of SEK 50,000, and Branch Managers whose branches has a turnover of a minimum SEK 30 million and has an EBITA margin over 4 percent may participate with shares equating to a maximum of SEK 30,000.

In addition, a smaller number of other staff members and other identified key-persons have been invited to invest in the program.

Altogether, 185 people have accepted the offer.

At a performance achievement according to Bravida’s business plan, an expected annual employee turnover of 10 percent, an annual share price increase of 10 percent, the Company’s total cost for LTIP 2019 is expected to amount to approximately SEK 38.2 million.

LTIP 2018

The AGM 2018 decided on a new Long Term Incentive Program to succeed from 2018 until the AGM 2021.

To participate in the LTIP 2018, the participant is required to own a certain number of shares in Bravida throughout the term and also to be employed in Bravida throughout the period. For each share you participate with, you can be assigned a minimum of one share, and a maximum of five shares in Bravida Holding AB. The CEO may participate with shares equating to a maximum of SEK 300,000 when starting, the CFO with shares equating to SEK 240,000, other members of the Group Management with shares equating to SEK 200,000, Regional Managers and Branch Managers whose branches turnover a minimum of SEK 50 million and has an EBITA margin over 7% may participate with shares equating to a maximum of SEK 50,000, and Branch Managers whose branches turnover a minimum of SEK 30 million and has an EBITA margin over 4% may participate with shares equating to a maximum of SEK 30,000.

In addition, a smaller number of other staff members and other identified key-persons has been invited to invest in the program.

Altogether, 155 people have accepted the offer.

Each participant may be rewarded a minimum of one, and a maximum of five new Bravida shares for each share the participant owns within the LTIP 2018.

The number of shares rewarded depends on how well the performance target is met. The performance target is the 2020 earnings (EBITA) for the Group. All participants have the same performance target. Any allotment will occur after the first quarterly report for the 2021 is released.

At a performance achievement according to Bravida’s business plan, an expected annual employee turnover of 10 percent, an annual share price increase of 10 percent, the Company’s total cost for the LTIP 2018 is expected to amount to approximately SEK 33,8 million.