Share-Based Incentive Program 2017/2020

The Annual General Meeting 2017 decided to implement a warrants program for senior executives and key employees in the Thule Group.

The program comprised 1,950,645 warrants issued to Thule AB for further transfer to the participants. In total 1,346,330 were distributed.

Participants did acquire warrants at fair market value and the program included 10 participants. The subscription price was SEK 182.40, which corresponded to 118 percent of the volume weighted average price according to Nasdaq Stockholm's official price list for shares in the company during the period as from 27 April 2017 through May 4, 2017.

The warrants could be exercised 15 May – 15 December 2020. As part of the incentive program, participants may receive a retention bonus in the form of a gross salary supplement from the company that corresponds in total to the amount paid by the participant for the warrants, conditional upon continued employment at the time of payment and that the participant has not terminated the employment.
The dilution effect of the program was approximately 2 percent.

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