Remuneration of the Board of Directors

Pursuant to the Companies Act, the General Meeting decides upon the remuneration paid to the members of the Board of Directors and the basis for it. 

The Annual General Meeting held on 28 April 2022 resolved that the remuneration payable to the members of the Board of Directors shall be EUR 20,000 annually for each member of the Board, except for the Chairman of the Board, who shall be paid EUR 50,000 annually, and the possible Vice Chairman of the Board, who shall be paid EUR 45,000 annually. In addition, the Chairman of the Audit Committee shall be paid a fixed annual remuneration of EUR 10,000 and each member of the Audit Committee EUR 5,000. In case the Chairman of the Audit Committee acts as the Chairman or as the Vice Chairman of the Board of Directors, no remuneration related to the committee work shall be paid. The Chairman of the Remuneration Committee shall be paid a fixed annual remuneration of EUR 5,000 and each member of the Remuneration Committee EUR 2,500. In case the Chairman of the Remuneration Committee acts as the Chairman or as the Vice Chairman of the Board of Directors, no remuneration related to the committee work shall be paid.

In addition, the meeting fees payable to all the other members of the Board of Directors, except for the Chairman of the Board, shall be EUR 1,000 per each meeting. When a member participates in a meeting via remote connection, the meeting fee shall be EUR 750. Travel expenses will be reimbursed in accordance with the Company’s travel policy and the official decision of the Finnish Tax Administration on tax-exempt allowances.

Remuneration of the members of the Management Team and the CEO

The Board of Directors decides upon the remuneration the CEO and the Management Team and the basis of it. The remuneration of the members of the Management Team and the CEO consists of fixed monthly salary, customary benefits in kind and incentives, as in force from time to time. In addition, the CEO has a housing benefit.

Incentive schemes and restrictions on disposal of shares

Lamor does not have share award systems in force. Lamor’s Board of Directors is investigating the establishment of a stock-based incentive scheme for the company’s key individuals, which would aim to reward the participants in a competitive manner and commit them to Lamor. The establishing of a possible incentive scheme as well as its terms and content will be decided after the listing.

Lamor Remuneration Policy

The Remuneration Policy of The Governing Bodies, PDF

Lamor Remuneration Report 2021

Lamor’s Remuneration Report 2021, PDF (0,9 MB)