Remuneration for the board of directors is resolved by the general meeting. At the annual general meeting held on 12 May 2022, it was resolved that fees to the board of directors (plus any social security contributions) shall be payable in the amount of SEK 150,000 to the respective elected board member and SEK 300,000 shall be paid to the chairman of the board.
Remuneration for the senior management may consist of fixed salary, variable remuneration, pension and other benefits.
Hexicon has a warrant-based incentive program for the board of directors, senior management, employees and newly recruited in the company. 11,900,057 warrants have been subscribed for by those entitled to subscribe for such warrants.
The purpose of the incentive program was to create an incentive for the company’s board, senior management, employees and newly recruited in the company who to a large extent contribute to the positive development of the company. Transfer to the participants has been made against payment in cash corresponding to the market value of the share at the time of transfer.
The warrants are represented by an option certificate and each earned option certificate gives rise to a right to subscribe for one new share in the company against payment in cash with a subscription price of SEK 2.80 per share. The warrants may be exercised during the period starting on the 30 June 2023 up and including 30 December 2023, and if the warrants are exercised in full for subscription of new shares the company’s share capital will increase by SEK 130,000 and the number of shares will increase by 13,000,000, which is equivalent to a dilution of approximately 3,4 percent of the total number of shares in the company after the listing on Nasdaq First North Premier Growth Market.