Incentive program

LTIP 2023

The Annual General Meeting on 28 April 2023 decided on a resolution regarding a new long-term incentive programme with a vesting period running from 2023 to 2025. The offer is aimed at senior executives and other key personnel in the Bravida Group.

Participation in LTIP 2023 requires participants to own a certain number of shares in Bravida throughout the term of the programme and requires that they are employed by Bravida during the entire period. For each share (Bravida share) held by participants under LTIP 2023, the company will allocate, at no cost, a maximum of three (3) or five (5) new shares in Bravida.

The number of shares allocated depends on the extent to which the defined performance target is met. The defined performance target is that the 2025 result (EBITA) of the Group shall amount to SEK 1,965 million to achieve full allocation. For any shares to be allocated at all, a minimum level must be exceeded. This minimum level is set at 85 percent of the target figure of SEK 1,965 million. All participants have the same performance targets. Any allocation takes place after the first interim report for 2026 has been published.

The CEO may participate with Bravida shares corresponding to a value of SEK 375,000 at the starting point. The CFO may participate with Bravida shares corresponding to a maximum value of SEK 300,000. Other members of the Group management may participate with Bravida shares corresponding to a maximum value of SEK 250,000. Regional Managers, certain Branch Managers and selected key personnel may participate with Bravida shares corresponding to a maximum value of SEK 62,500. In addition, certain key personnel may participate with shares corresponding to a maximum of SEK 37,500.

If the maximum outcome is achieved, and that all invested Bravida shares are retained in accordance with LTIP 2023 and the performance-based conditions are fulfilled to 100 percent, the cost for LTIP 2023 will amount to a maximum of approximately SEK 70 million in accordance with IFRS 2 and the cost for social security contributions to approximately SEK 19 million.

LTIP 2022

The Annual General Meeting on 5 May 2022 passed a resolution regarding a new long-term incentive programme with a vesting period running from 2022 to 2024

The offer is aimed at senior executives and other key personnel in the Bravida Group. Participation in LTIP 2022 requires participants to own a certain number of shares in Bravida throughout the term of the programme and requires that they are employed by Bravida for the etire period. For each share (Bravida share) held by participants under LTIP 2022, the Company will allocate, at no cost, a maximum of three (3) or five (5) new shares in Bravida to the participants. The number of shares allocated depends on the extent to which the defined performance target is met. The defined performance target is that the 2024 earnings (EBITA) of the Group are at least SEK 1,855,480,000 to achieve full allocation. For any shares to be allocated at all, a minimum level must be exceeded. This minimum level is set at 85 percent of the target figure of SEK 1,855,480,000. All participants have the same performance targets. Any allocation takes place after the first interim report for 2025 has been published.

The CEO may participate with Bravida shares corresponding to a value of SEK 300,000 at the starting point, the CFO may participate with Bravida shares corresponding to a maximum value of SEK 240,000, other members of the Group management may participate with Bravida shares corresponding to a maximum value of SEK 200,000, regional managers may participate with Bravida shares corresponding to a maximum value of SEK 50,000, branch managers whose branches on average during the last three years have earned more than 7 percent Group-EBITA and had sales of more than SEK 50 million may participate with Bravida shares corresponding to a value of SEK 50,000, branch managers whose branches on average during the last three years have earned more than 4 percent Group-EBITA (but less than 7 percent) and had sales of more than SEK 30 million (but less than SEK 50 million) may participate with Bravida shares corresponding to a value of SEK 30,000. In addition, certain other executives at the Group, divisional or regional level and certain key employees may participate with Bravida shares corresponding to either a maximum value of SEK 30,000 or a maximum value of SEK 50,000.

If the maximum outcome is achieved, and all invested Bravida shares are retained in accordance with LTIP 2022 and the performance-based conditions are fulfilled to 100 percent, the maximum cost for LTIP 2022 will amount to approximately SEK 46 million in accordance with IFRS 2 and the cost for social security contributions will amount to approximately SEK 10 million.

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.