BAGSVAERD, DENMARK--(Marketwire - Mar 21, 2013) - The long-term, share-based incentive
programme for 2013 for the Senior Management Board has been approved by the
Board of Directors.
Long-term, share-based incentive programme for senior management
As from 2004, members of Novo Nordisk's Executive Management and other
members of the Senior Management Board have participated in a
performance-based incentive programme where a proportion of the calculated
shareholder value creation has been allocated to a joint pool for the
participants. For members of Executive Management and other members of the
Senior Management Board, the joint pool has had a yearly maximum allocation
per participant equal to eight months' fixed base salary plus pension
contribution. At yesterday's Annual General Meeting, it was approved to
raise the potential maximum allocation per participant from Executive
Management to a value equal to 12 month's fixed base salary plus pension
contribution.
Once the joint pool for a given year has been approved by the Board of
Directors, the total cash amount is converted into Novo Nordisk B shares at
market price. The market price is calculated as the average trading price
for Novo Nordisk B shares on NASDAQ OMX Copenhagen in the open trading
window following the release of the full-year financial results for the
year preceding the year of the performance-based incentive programme. The
shares in the joint pool are locked up for a three-year period before they
are transferred to the participants. In the lock-up period, the Board of
Directors may remove shares from the joint pool in the event of lower than
planned value creation in subsequent years.
Company announcement No 22 / 2013:
http://hugin.info/2013/R/1686991/553159.pdf
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Source: Novo Nordisk A/S via Thomson Reuters ONE
[HUG#1686991]