Extraordinary Restricted Stock Unit offer to retain key employees
COMPANY ANNOUNCEMENT NO. 7-2023
3 March 2023, Copenhagen, Denmark
The Board of Directors of FLSmidth & Co. A/S has today allocated restricted shares (RSUs) to members of the Executive Management and key staff (54 persons in total) to retain strategic resources to execute on the transformation of FLSmidth and deliver on its pure play strategies.
The maximum number of restricted shares allocated is 108,139, of which 49,468 pertain to members of the Executive Management. The vesting period is three years and vesting are subject to the participant being actively employed at the two vesting tranches in the offer. The first vesting tranche is two years after the grant, where one-third of the allocated RSUs vest. The second vesting tranche is three years after the grant, where the remaining two-thirds of the allocated RSUs vest.
The cost of the programme is DKK 29.8 million assuming full vesting, based on the average closing share price during the period from 23 February to 1 March 2023 (the first five trading days after the release of the Annual Report 2022).
Jannick Lindegaard Denholt, +45 21 69 66 57, firstname.lastname@example.org
Therese Möllevinge, +45 41 37 16 38, email@example.com
Mikkel Johansen, +45 23 30 29 50, firstname.lastname@example.org
Rasmus Windfeld, +45 40 44 60 60, email@example.com
FLSmidth is a full flowsheet technology and service supplier to the global mining and cement industries. We enable our customers to improve performance, lower operating costs and reduce environmental impact.
MissionZero is our sustainability ambition towards zero emissions in mining and cement by 2030. FLSmidth works within fully validated Science-Based Targets, our commitment to keep global warming below 1.5°C and to becoming carbon neutral in our own operations by 2030. www.flsmidth.com