Compensation to Senior Management

Novotek shall offer compensation that is in line with the going rate in the market and that enables qualified senior executives to be recruited and retained. The absolute level depends on the position and the individual’s performance.

The total remuneration consists of fixed salary, variable salary, pension and additional benefits. Fixed salary and benefits shall be established individually based on each employee’s unique skills. Any variable salary is payable after completion of clearly defined objectives. The variable salary is paid as percentage of the fixed salary and is limited, maximum 25 percent of the total fixed cash salary during the financial year. Pension shall as a rule be defined contribution plan.

The guidelines for remuneration to Senior Management >> (only in Swedish), adopted by the annual general meeting 2020-05-07.

Outcome of remuneration to senior management is in each year’s annual report.

(Only in Swedish)

Annual General Meeting 2021
Auditor report concerning compensation to senior management 2021
Remuneration report to AGM 2021

Annual General Meeting 2020
Auditor report concerning compensation to senior management 2020

Annual General Meeting 2019
Auditor report concerning compensation to senior management 2019

Annual General Meeting 2018
Auditor report concerning compensation to senior management 2018

Annual General Meeting 2017
Auditor report concerning compensation to senior management 2017

Annual General Meeting 2016
Auditor report concerning compensation to senior management 2016

Annual General Meeting 2015
Auditor report concerning compensation to senior management 2015

Annual General Meeting 2014
Auditor report concerning compensation to senior management 2014

Annual General Meeting 2013
Auditor report concerning compensation to senior management 2013

Annual General Meeting 2012
Auditor report concerning compensation to senior management 2012

Annual General Meeting 2011
Auditor report concerning compensation to senior management 2011

Incentive programs

No incentive program currently exist.

 

Insiders and Insiders trading

As a result of the new insider trading legislation (MAR), Novotek keeps a list of Persons discharging managerial responsibilities (PDMR’s) – former insiders – together with their closely related persons. PDMR in Novotek are the members of the Board, the CEO and the CFO, as well as the members of the Senior Management. PDMR’s as well as their closely related persons are subject to a duty to within three days notify Novotek and the Swedish Financial Supervisory Authority of all transactions* with the securities of Novotek.

* The duty to report applies only if the total transaction amount of 5000 euros is reached during the calendar year.

Here is a link to The Swedish Financial Supervisory Authority´s Insider register https://marknadssok.fi.se/publiceringsklient/en-GB/Search/Start/Insyn