Remuneration guidelines
The Annual General Meeting in Stillfront Group AB (publ) adopts guidelines for remuneration and other terms of employment for the company’s executive management. The 2025 Annual General Meeting adopted the Board of Directors’ suggested remuneration guidelines, which provide i.a. that remuneration of executive management shall be on market terms and may consist of the following components: fixed cash salary, variable cash remuneration, pension benefits and other benefits. For the complete guidelines, please see the Annual General Meeting May 2025. In addition to remuneration covered by the remuneration guidelines, the general meetings of the company have resolved to implement long-term share-related incentive programmes as set out below.
Remuneration
| REMUNERATION FOR GROUP EXECUTIVE MANAGEMENT | ||||
| 2024 (SEK ‘000) | Former CEO and President1 | Interim CEO and President2 | Other senior executives3 | Total |
| Fixed Salary | 7,533 | 1,409 | 18,339 | 27,281 |
| Variable remuneration | 1,037 | 139 | 2,015 | 3,192 |
| Cost for shared based benefits | 2,811 | 582 | 10,021 | 13,414 |
| Severance | 10,980 | 0 | 0 | 10,980 |
| Pension expenses | 0 | 0 | 983 | 983 |
| Total remuneration | 22,362 | 2,130 | 31,359 | 55,850 |
| 2023 (SEK ‘000) | CEO and President | Other senior executives | Total | |
| Fixed Salary | 9,115 | 18,604 | 27,719 | |
| Variable remuneration | 1,128 | 1,705 | 2,833 | |
| Cost for shared based benefits | 3,380 | 9,248 | 12,628 | |
| Other benefits | 0 | 41 | 41 | |
| Pension expenses | 0 | 2,069 | 2,069 | |
| Total remuneration | 13,623 | 31,667 | 45,290 | |
1) Former CEO and President is Jörgen Larsson up until October 15, 2024.
2) Interim CEO and President is Alexis Bonte from October 15, 2024.
3) Remuneration for Other senior executives included in the table corresponds to the full remuneration expensed during the period in which the individuals concerned were senior executives, including vested but as yet unpaid variable
remuneration and share based benefits for each year. Other senior executives whose remuneration is included are Marina Andersson (until August 2024), Alexis Bonte (until 15 October 2024), Armin Busen (from September 2024), Phillip Knust, Johanna Lundberg (until June 2024), Alexandre Salem (from September 2024), Björn Tönne (April 2023-August 2024), Andreas Uddman, and Sofia Wretman (until August 2024).
| FEES TO THE BOARD OF DIRECTORS | ||
| SEK ‘000 | 2024 | 2023 |
| Jan Samuelsson, Chair (up to June 2023) | 0 | 371 |
| Katarina Bonde, Chair (from June 2023) | 855 | 618 |
| Birgitta Henriksson (up to May 2024) | 156 | 375 |
| Erik Forsberg | 559 | 550 |
| Ulrika Viklund (up to May 2024) | 125 | 300 |
| Marcus Jacobs | 353 | 335 |
| David Nordberg (from June 2023) | 309 | 175 |
| Maria Hedengren (from June 2024) | 242 | – |
| Lars-Johan Jarnheimer (from June 2024) | 184 | – |
| Total | 2,782 | 2,724 |
Long-term incentive programs
A prerequisite for the successful implementation of Stillfront’s business strategy and safeguarding of its long-term interests, is that Stillfront is able to attract, motivate and retain the best talent globally. To achieve this, it is necessary that Stillfront offers competitive remuneration to create incentives for the senior executives and key individuals to execute strategic plans, deliver excellent operating results and to align their incentives with the interests of Stillfront’s shareholders.
LTIP 2022/2026
The Annual General Meeting on 12 May 2022 resolved to implement a long-term incentive program under which a maximum of 2,000,000 restricted stock units shall be offered to approximately 50 participants, consisting of the CEO, senior executives and key personnel within the Stillfront Group.
The restricted stock units are gradually vested during a three-year period, and after the expiration of the three-year period, each vested restricted stock unit entitles the participant to receive one share in Stillfront for free during one of three exercise windows during 2026, if the performance target of an average annual total shareholder return of 8% has been met.
For additional information on LTIP 2022/2026, please see the Annual General Meeting May 2022.
LTIP 2023/2027
The Annual General Meeting on 11 May 2023 resolved to implement a long-term incentive program under which a maximum of 2,024,000 restricted stock units shall be offered to 45 participants, consisting of the CEO, senior executives and key personnel within the Stillfront Group.
The restricted stock units are vested on an annual basis during a four-year period depending on Stillfront’s annual achievement of two of its financial targets (revenue growth and EBITDAC-margin), and after the expiration of the four-year period, each vested restricted stock unit entitles to participant to receive one share in Stillfront for free during the exercise windows following the release of Stillfront’s Q2 report 2027.
For additional information on LTIP 2023/2027, please see the Annual General Meeting May 2023.
LTIP 2024/2028
The Annual General Meeting on 14 May 2024 resolved to implement a long-term incentive program under which a maximum of 2,100,000 restricted stock units shall be offered to approximately 45 participants, consisting of the CEO, senior executives and key personnel within the Stillfront Group.
The restricted stock units are vested on an annual basis during a four-year period depending on Stillfront’s annual achievement of three targets: two financial targets (revenue growth and EBITDAC margin) and one ESG target (comprising of one goal related to employee satisfaction and one related to data privacy). After the expiration of the four-year period, each vested restricted stock unit entitles the participant to receive one share in Stillfront for free during the exercise windows following the release of Stillfront’s Q2 report 2028.
For additional information on LTIP 2024/2028, please see the Annual General Meeting May 2024.
LTIP 2025/2029
The Annual General Meeting on 14 May 2025 resolved to implement a long-term incentive program under which a maximum of 3,100,000 restricted stock units shall be offered to approximately 65 participants, consisting of the CEO, senior executives and key personnel within the Stillfront Group.
The restricted stock units are vested on an annual basis during a four-year period depending on Stillfront’s annual achievement of three targets: two financial targets (revenue growth and EBITDAC margin) and one ESG target (comprising of one goal related to employee satisfaction and one related to data privacy). After the expiration of the four-year period, each vested restricted stock unit entitles the participant to receive one share in Stillfront for free during the exercise windows following the release of Stillfront’s Q2 report 2029.
For additional information on LTIP 2025/2029, please see the Annual General Meeting May 2025.