Currently, Dustin has four outstanding incentive programs which are described below.

LTI 2022

The Annual General Meeting 2020/21 resolved to implement a long-term incentive program based on no more than 1,329,710 warrants, each warrant shall after the three-year vesting period entitle the holder to subscribe for one (1) share, in one series, and issuance of no more than 373,252 cash-settled synthetic options, which after the three-year vesting period entitle the holder to a cash payment. LTI 2022 includes no more than 50 individuals and the company's board members are not included in LTI 2022.

The main objective of LTI 2022 is to link a portion of central key employees' compensation to the Dustin share's long-term value growth, and thereby aligning the interests of the employees with those of the shareholders. 

Further information can be found in the notice to attend the Annual General Meeting 2020/21, item 17.

PSP 2023

The Annual General Meeting 2021/22 resolved to implement a new long-term performance share plan for members of the Executive Management and other key employees in Dustin (the “PSP 2023”).

In order for the plan to be clear and predictable for the participants and to create flexibility to better suit the fast-moving IT and e-commerce industries as well as to further align the participants’ interests with those of the shareholders, PSP 2023 focuses on the for Dustin strategically important financial performance measures organic growth and EBITA margin, as well as the total shareholder return (TSR). PSP 2023 further includes a target related to product recycling (annual takeback sales), with the purpose of linking the participants’ awards to Dustin’s 2030 sustainability commitments.

PSP 2023 comprises no more than 825,000 ordinary Dustin shares. Within the scope of PSP 2023, the participants will be granted performance share awards entitling the participants to receive ordinary Dustin shares after a three-year vesting period ending after the disclosure of Dustin’s interim financial report for the period 1 September–30 November 2025.
In order to participate in PSP 2023, the employees are required to invest in ordinary Dustin shares and to allocate such shares to PSP 2023 (the “Investment Shares”). The maximum number of Investment Shares that each of the participants can allocate to PSP 2023 will correspond to approximately 7.5–10 per cent of the individual annual base salary.

Further information can be found in the notice to attend the Annual General Meeting 2021/22, item 18.

PSP 2024

The Annual General Meeting 2022/23 resolved to implement a long-term performance share plan for members of the Executive Management and other key employees in Dustin (the “PSP 2024”). PSP 2024 retains the same structure, and the same economic characteristics for the participants, as the long-term performance-based share plan adopted at the Annual General Meeting 2021/22.
The purpose of PSP 2024 is to ensure long-term commitment to the value growth in Dustin and to align the participants’ incentives and the shareholders’ interests by for Dustin strategically important financial performance measures, organic growth and the total shareholder return (TSR). PSP 2024 further includes a target related to product recycling (annual takeback sales), with the purpose of linking the participants’ awards to Dustin’s 2030 sustainability commitments.

PSP 2024 comprises no more than 8,900,000 ordinary Dustin shares. Within the scope of PSP 2024, the participants will be granted performance share awards entitling the participants to receive ordinary Dustin shares after a three-year vesting period ending after the disclosure of Dustin’s interim financial report for the period 1 September–30 November 2026.

In order to participate in PSP 2024, the employees are required to invest in ordinary Dustin shares and to allocate such shares to PSP 2024 (the “Investment Shares”). The maximum number of Investment Shares that each of the participants can allocate to PSP 2024 will correspond to approximately 7.5–10 per cent of the individual annual base salary.

Further information can be found in the notice to attend the Annual General Meeting 2022/23, item 17.

PSP 2025

The Annual General Meeting 2023/24 resolved to implement a long-term performance share plan for members of the Executive Management and other key employees in Dustin (the “PSP 2025”). PSP 2025 retains the same general structure and economic characteristics for the participants, as the long-term performance-based share plans adopted at the Annual General Meeting 2021/22 and 2022/23.

The purpose of PSP 2025 is to ensure long-term commitment to the value growth in Dustin and to align the participants’ incentives and the shareholders’ interests by for Dustin strategically important financial performance measures.

PSP 2025 comprises no more than 3,100,000 ordinary Dustin shares. Within the scope of PSP 2025, the participants will be granted performance share awards entitling the participants to receive ordinary Dustin shares after a three-year vesting period ending after the disclosure of Dustin’s interim financial report for the period 1 September–30 November 2027.

In order to participate in PSP 2025, the employees are required to invest in ordinary Dustin shares and to allocate such shares to PSP 2025 (the “Investment Shares”). Participation in PSP 2025 can be made with a maximum of 12,400–80,200 Investment Shares, depending on the category to which the participant belongs.

Further information can be found in the notice to attend the Annual General Meeting 2023/24, item 18.