According to the Finnish Companies Act, the Annual General Meeting of Shareholders decides on the fees payable to the members of Administer’s Board of Directors.
The Annual General Meeting decided on 16 May 2023 that the annual remuneration of the Chair and members of the Board of Directors shall remain unchanged and therefore the Chair of the Board shall be paid an annual remuneration of EUR 50,000 and other members of the Board shall each be paid an annual remuneration of EUR 25,000. Additionally, should the Board of Directors elect a Deputy Chair, the Deputy Chair’s annual remuneration shall be EUR 35,000. If a Board member resigns during his/her term of office, the remuneration will be paid in proportion to the term of office actually taken place.
The committee members shall be paid EUR 500 per meeting. Board members’ and committee members’ travel expenses shall be reimbursed in accordance with the Company’s travel policy.
The table below sets forth the salaries and fees paid to the CEO and the management team of the group and the members of the company’s Board of Directors for the financial periods 2022, 2021, 2020, 2019 and 2018.
|Other members of the Management Team||901,2||727,6||622,7||534,5||358,51)|
|Board of Directors||160,9||61,0||56||56||47|
|1) The Group did not have a Management Team in 2018, and due to this, the table includes the figure for the Company’s Management Team.|
No loans, guarantees or other contingencies have been granted to the CEOs or members of the Boards of Directors of the group companies. The CEOs of the group companies are covered by TyEL or YEL. No other pension commitments have been made in connection with the CEOs or members of the Boards of directors or previous members of the governing bodies. [Furthermore, the employment or service agreements entered into by Administer with the members of the management do not include severance benefits when they terminate.]
Administer does not have share-based incentive plans in effect.
Administer offers incentive plans to the group’s personnel and the members of the management team based on their performance.