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Remuneration

The Annual General Meeting on 20 March, 2024 passed a resolution to adopt the proposed guidelines for remuneration of senior executives as follows

Guidelines for remuneration of senior executives

Background

According to the Swedish Companies Act, the Annual General Meeting must establish guidelines for remuneration and other terms of employment for senior executives. The term senior executives refers to Platzer’s senior management.

Board of Directors’ proposal


Following preparatory work carried out by the Remuneration Committee, the Board of Directors proposes that the Annual General Meeting approve the following main guidelines for remuneration of senior executives. 


Compensation of senior managment shall be market-based and consist of a fixed salary, variable compensation, pension benefits and other benefits. In addition, the Annual General Meeting (AGM) may – these guidelines notwithstanding – decide on compensation based on shares and share price. 

Fixed salary 
All senior executives shall be offered a fixed salary that is competitive for the role and commensurate with the execeutive’s experience, skills, responsibilities and qualitiative performance. As a rule, the fixed salary is reviewed annually. 


Variable compensation 
The variable remuneration shall be linked to specific goals that are the same for all members of the senior management team and for other Platzer employees. The maximum variable remuneration is 10% of fixed annual salary. It must be possible to measure fulfilment of the performance criteria for variable compensation over a period of one calendar year. Additional variable compensation may be payable in exceptional circumstances on condition that such arrangements are only agreed on an individual level, either in order to recruit or retain executives, or as compensation for extraordinary work performance above and beyond the person’s ordinary job responsibilities. Such compensation must not exceed an amount corresponding to 40% of annual fixed base salary and must not be paid more than once per year and person. Decisions on further monetary compensation are taken by the Board of Directors. 

Pension 
Senior management are covered by defined contribution pension plans or a collectively agreed ITP occupational pension plan. Contributions from Platzer shall amount to not more than 30% of annual fixed salary for the CEO and be in line with collectively agreed ITP plans for other senior executives. Variable remuneration shall be pensionable only to the extent that this adheres to binding collective agreement rules applicable to individual executives. 


Other benefits 
Other benefits may include income protection insurance, life insurance, health insurance and car benefit. Such benefits may not exceed 10% of fixed salary. 


Termination of employment 
In the event of termination of employment, the period of notice for a member of senior management must not exceed twelve months, irrespective of whether notice was given by Platzer or the executive. Severance pay may be payable when the employment is terminated by Platzer. Severance pay, including salary during the notice period, must not be greater than 12 months’ fixed salary.

 

Criteria for payment of variable remuneration, etc. 
Variable remuneration shall be based on predetermined, company-wide goals within Platzer. 
The variable remuneration for 2023 shall be based on the outcome of goals relating to operating surplus, new rental, maintained customer volume and climate footprint within scope 3 (reuse in projects and emissions in new production). It is the Board’s view that these goals have a positive impact on Platzer’s business strategy, long-term interests and sustainability.
 

Gothenburg February 2024

Platzer Fastigheter Holding AB (publ)
Board of Directors