The organic Food Manufacturer AUGA group, AB (hereinafter, of the company) is moving forward with its employee incentive program through stock options. The company decided to allocate another 2.04 Million shares to the employees and members of the governing bodies (hereinafter, Employees) of the company and its subsidiaries (hereinafter, the group). Total since 2019 the Company will have allocated 90.2 million shares to its employees. That is also planned fordHah assign more than 2.3 million shares for the same purpose in the future.
The company launched its first option program in spring 2019. Almost 2.55 million shares were granted to employees in the first phase, another 2.23 million shares in 2020, 2.38 million shares in 2021.
Employees who signed the first stock option agreements in 2019 have the right to exercise them for the first time this year. As previously announced, the Company will increase its share capital by issuing new registered common shares and transferring them free of charge to participants in the 2019 stock option program following the approval of this resolution at the Annual General Meeting on April 29th, 2022.
The program will continue this year with the granting of an additional 2.04 million shares.
A motion to approve an additional 1.7 million shares for future allotment, bringing the Company’s total unallocated shares earmarked for the option program to reach 2.3 million shares, was included on the agenda for the forthcoming annual general meeting of the Company shareholders included.
When all accumulated reserves are allocated to employees and new shares are issued, they amount to 5.08% of the company’s equity.
“Employees with stock options become more involved in the activities and improvement of the group’s results, feel motivated and become more loyal. A survey conducted across the group’s companies shows that 92% of employees with stock options feel their role as professionals and understand that knowing they have stock options is not only a pleasant evaluation for them, but also a motivation to strive for better results strive,” says Kęstutis Juščius, CEO of AUGA Group, AB.
The company’s stock option program aims to increase employee motivation and commitment. Shares are primarily granted to those employees who have the greatest impact on the success of the company’s operations.
Under existing contract terms, employees are entitled to receive a certain number of company shares after a period of 3 years. These shares are issued to employees free of charge and are financed from a company reserve set up for this purpose.
CEO of AUGA Group, AB
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