Incentive Programme
Employee options programme 2008/2012
The Annual General Meeting on 14 April 2008 resolved to adopt an
incentive programme comprising a maximum of 1,450,000 employee
options (Sw. personaloptioner) and to issue 1,920,090 warrants for
the subsidiary BioInvent Finans AB, free of charge, to secure the
company's commitment under the incentive programme and to cover the
company's associated social security contributions. BioInvent
Finans AB has subscribed all the warrants. Each employee option
entitles the holder to subscribe to a new share at a subscription
price of SEK 26.84. A basic allocation of 513,750 employee options
took place during 2008 and 2009. Extra allotment of 69,750 employee
options took place in February 2009, in January 2010 with 429,750
employee options and in February 2011 with 37,875 employee options.
218,166 of these employee options can be exercised from 12 June,
2011 at a subscription price of SEK 26.84. Last day for exercising
is 1 December 2012.
The Annual General Meeting on 21 April 2009 resolved to adopt an
amendment to the existing employee options programme 2008/2012,
resolved by the AGM 2008. The amendment programme comprises a
maximum of 240,250 employee options, directed to the employees of
the Company, entitling the holder to subscribe for new shares. Each
employee option entitles the holder to subscribe to a new share at
a subscription price of SEK 26.84. A basic allocation of 33,750
employee options took place during 2009 and 2010. Extra allotment
of 8,127 employee options took place in January 2010.
Employee options programme 2011/2015
The annual general meeting on 24 March 2011 resolved on a complement to the previous employee incentive programme. The new Employee Incentive Programme 2011/2015 shall comprise newly employed members of management and key-employees who do not participate in the previous programme. The programme shall comprise maximum 350,000 employee options and to issue 459,970 warrants for the subsidiary BioInvent Finans AB, free of charge, to secure the company's commitment under the incentive programme and to cover the company's associated social security contributions. BioInvent Finans AB has subscribed all the warrants. Each employee option entitles the holder to subscribe to a new share at a subscription price of SEK 30.36. A basic allocation of 37,500 employee options took place in June 2011.
Fully exercised the programs listed above represent a dilution of about 3.7 percent of the shares.