The ROCKWOOL International A/S Board of Directors has today, in accordance with the new remuneration policy approved at the Annual General Meeting 1 April 2020, decided to allocate Restricted Share Units, including phantom units, (“RSUs”) to a group of up to 75 key employees in leading positions, including Group Management (the “Participants”). The scheme is designed to align the interest of the Participants to those of our shareholders, and to give the Participants an incentive to make a long-term commitment as well as to promote value creation within the group.
The Board of Directors has granted the Participants a total of 15,734 RSUs and, subject to vesting, each RSU entitles the holder to receive one ROCKWOOL International B-share or, in case of phantom units, a cash based settlement to the corresponding share value at the time of transfer. The fair value of each RSU is DKK 1,186 being the 15 days average price of ROCKWOOL International’s B-share up to the date of approval of the allocation. The total fair value of the RSU allocation is EUR 2.5 million.
