News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Novo Nordisk A/S (NVO): 2013 Long-Term, Share Based Incentive Program for the Senior Management Board


3/21/2013 9:52:45 AM

BAGSVAERD, DENMARK--(Marketwire - March 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

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and other applicable laws; and

(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Novo Nordisk A/S via Thomson Reuters ONE

[HUG#1686991]


Further information
Media:
Mike Rulis
+45 4442 3573
Email Contact

Ken Inchausti (US)
+1 609 514 8316
Email Contact

Investors:
Kasper Roseeuw Poulsen
+45 4442 4303
Email Contact

Frank Daniel Mersebach
+45 4442 0604
Email Contact

Lars Borup Jacobsen
+45 3075 3479
Email Contact

Jannick Lindegaard (US)
+1 609 786 4575
Email Contact


Read at BioSpace.com


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES