Renumeration

Compensation to the CEO and senior executives

Xspray must offer levels of compensation and employment conditions on market terms to enable the recruitment and retention of senior executives and key expertise. There are currently no agreements regarding severance pay for senior executives. Compensation to senior executives consists of basic salary, share-related compensation, pension provision and other benefits.

Renumeration report 2020

Klick the links below to download the renumeration report and the auditors opinion:
Xspray Pharma Renumeration report 2020
Auditor’s opinion under Chapter 8 Section 54 of the Swedish Companies Act (2005:551), Renumeration report 2020

Incentive programs

Xspray has conducted a total of four long term incentive programs for senior executives and employees.

Warrant program LTIP 2015/2021
Terminated, see press release August 21, 2020, and January 26, 2021

Warrant program LTIP 2017/2020
Terminated, see press release August 21, 2020

Warrant program LTIP 2018/2021
An Extraordinary General Meeting on November 28, 2020, resolved to introduce an incentive program, LTIP 2018/2021, involving a maximum of 234,505 warrants. The warrants can be exercised in the period December 1, 2021 to January 17, 2022. The program provides a maximum dilution effect of 1.13 percent on the current number of shares. The warrants were subscribed on market terms at a price determined on the basis of an estimated market valuation (Black & Scholes) by an independent valuation institution.

Warrant program LTIP 2020/2023
An Extraordinary General Meeting on March 26, 2020, resolved to introduce an incentive program, LTIP 2020/2023, involving a maximum of 79,074 warrants. The warrants can be exercised in the period April 1, 2023 to May 4, 2023. The program provides a maximum dilution effect of 0.42 percent on the current number of shares. The warrants were subscribed on market terms at a price determined on the basis of an estimated market valuation (Black & Scholes) by an independent valuation institution.

Warrant program LTIP 2021/2024
The Annual General Meeting on May 20, 2021, resolved to introduce an incentive program, LTIP 2021/2024, involving a maximum of 195,725 warrants. The warrants can be exercised in the period June 3, 2024 to July 15, 2024. The program provides a maximum dilution effect of 1,02 percent on the current number of shares. The warrants were subscribed on market terms at a price determined on the basis of an estimated market valuation (Black & Scholes) by an independent valuation institution.

Warrant program Chairman LTIP 2021/2026
The Annual General Meeting on May 20, 2021, resolved to introduce an incentive program, Chairman LTIP 2021/2026, involving a maximum of 13,214 warrants. The warrants can be exercised in the period May 25, 2026 to June 15, 2026. The program provides a maximum dilution effect of 0,07 percent on the current number of shares. The warrants were subscribed on market terms at a price determined on the basis of an estimated market valuation (Black & Scholes) by an independent valuation institution.