Incentive programs

AcadeMedia currently has one long term incentive programs in the form one convertible program. The program was launched in February 2019 and is directed to the employees within the AcadeMedia group, excluding the CEO and members of the Group Management.

The rationale for the incentive programs is to motivate and retain competent employees, align the participants’ goals with those of the Company, as well as to increase the motivation to meet and exceed the Company’s financial targets.

Current incentive programs:

  • Programs resolved at the General Meeting on November 22, 2018
    • Convertible program 2019
  • Program resolved and issued by main shareholder Mellby Gård
    • Stock options to Executive Management 2018
    • Stock options to the CEO 2021

Convertible program

The convertible program is aimed at the employees within the AcadeMedia group, excluding the CEO and members of Executive Management. The participants in the program must have entered into a Pre-emption Agreement with the company. The program includes the issue of convertible bonds with a maximum nominal value of SEK 152,100,000 and an estimated maximum dilution of 2.5 percent. The participants are offered to buy convertibles at their nominal value, which corresponds to their estimated market value. Each convertible can be converted into shares in the company at a conversion rate of 120 percent of the average volume weighted share price during the period 1 February 2019 up to and including 7 February 2019. The convertible bonds carry interest from and including March 15, 2019, and may be converted into shares during four periods. The first period will take place approximately three years from the time of issue.

More information about the convertible program can be found in the Annual report 2018/19 Note 6 and in the full proposal by the Board of Directors of AcadeMedia AB (publ) on a directed issue of convertibles on the homepage. Please note that the original proposal was adjusted, the changes are described in the press release on November first 2018.

Stock options to Executive Management

In November 2018, Mellby Gård AB, the principal owner, offered Group Management to buy cash-settled options. The purpose of the program is to promote the company’s long-term development and earnings. AcadeMedia AB has not participated in the offering and will not incur any costs as a result of the offering. The program will not either result in any dilution of the AcadeMedia share.

In total, Group Management has acquired 681 000 options as of 30 November 2018. Participants have acquired each option for SEK 3.90, which corresponds to the market value as calculated according to the Black & Scholes model and using assumptions regarding volatility and risk-free interest at the time of issue. If the options are exercised, a cash settlement will be paid from Mellby Gård AB. No shares will be sold.

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