Establishment of Restricted Share Plan
11 Abril 2018 - 3:54AM
Establishment of Restricted Share Plan
ANNOUNCEMENT
A.P. Møller - Mærsk A/S – Establishment
of Restricted Share Plan
In continuation of the adoption of revised
General guidelines for incentive pay and Remuneration Policy for
A.P. Møller - Mærsk A/S (the “Company”) at the Company’s Annual
General Meeting held on 10 April 2018, the Board of Directors has
decided to establish a restricted shares plan for the members of
the Executive Board (“Executive Board Members”) in addition to the
stock option plan established in 2017.
The restricted shares plan is designed mainly
for the purposes of further linking the Executive Board Members’
compensation to the long-term interests of the shareholders and the
performance of the Company by linking a higher proportion of the
Executive Board Members’ annual pay to the share price development
of the Company. Also, the plan strengthens retention of the
Executive Board Members within the Maersk Group.
Decision to grant restricted shares will be
taken on an annual basis by the Board of Directors, normally on or
around 1 April (the “Main Grant Date”), the first time during April
2018. A grant of restricted shares in one year does not
automatically entitle the Executive Board Member to receive
restricted shares in subsequent years.
The restricted shares will be granted free of
charge to the Executive Board Member and upon vesting the Executive
Board Member will receive one B share in A.P. Møller - Mærsk A/S of
nominally DKK 1,000 for each vested restricted share. The
restricted shares will vest five years after the Main Grant Date in
the year of the grant.
Other than being an Executive Board Member at
the time of granting of the restricted shares no conditions are
attached to the grant. In case of an Executive Board Member’s
resignation during the vesting period, non-vested restricted shares
will in certain circumstances lapse.
The theoretical market value of the restricted
shares is based on the 5 day volume weighted average of the A.P.
Møller - Mærsk A/S’ B shares in the 5 trading days immediately
following the publication of the annual report. In 2018, this value
is DKK 10,476.
The value of restricted shares granted to each
Executive Board Member will not exceed 25% of the respective
Executive Board Member’s annual fixed base salary. Based on the
theoretical market value, approximately 1,002 restricted shares in
total are expected to be granted to the Executive Board Members in
2018.
Copenhagen, 11 April 2018
Contact person: Executive Vice President,
Lars-Erik Brenøe, tel. +45 3363 3607
Page 1 of 1
- Announcement - Establishment of Restricted Share Plan