Investor Presentaiton
123
A.P. Møller-Mærsk A/S Annual Report 2020
Financials
Parent company financial statements
Notes index
Note 8 Share capital – continued
Development in the holding of own shares:
Table 8.3
Own shares
No. of shares of DKK 1,000
2020
2019
Nominal value DKK million
2020
2019
% of share capital
2020
2019
A shares
1 January
134,279
134
0.65%
0.00%
Addition
141,874
134,279
142
134
0.69%
0.65%
Cancellation
156,977
157
0.75%
0.00%
31 December
119,176
134,279
119
134
0.59%
0.65%
B shares
1 January
587,949
55,515
588
56
2.82%
0.27%
Addition
567,493
537,143
567
537
2.83%
2.57%
Cancellation
627,938
628
3.02%
0.00%
Disposal
31 December
22,223
505,281
4,709
22
5
0.11%
0.02%
587,949
505
588
2.52%
2.82%
Note 9 Share-based payment
Table 9.1
Amounts in USD million
==
Table 8.3
Note 11 in the consolidated financial statements includes
rules for changing the share capital, and information
regarding the authorisation of the Board of Directors to
acquire own shares as well as the total number of own
shares held by the Group.
Addition of own shares relates to the share buy-back
programme announced in May 2019. Note 11 in the
consolidated financial statements provides more
information about the share buy-back programme.
Disposal of own shares relates to the share option
plan and the restricted shares plan.
Members of
Employees'
Total
the Executive
Total
fair value¹
Table 9.1
Outstanding restricted shares
Board'
No.
No.
No.
1 January 2019
1,002
12,786
13,788
Granted
1,310
4,319
5,629
7
Granted in connection with Maersk Drilling demerger
294
1,286
1,580
Exercised
4,756
4,756
Forfeited
739
1,700
2,439
Outstanding 31 December 2019
1,867
11,935
13,802
Granted
1,626
6,165
Exercised
3,777
Forfeited
125
Outstanding 31 December 2020
3,493
14,198
7,791
3,777
125
17,691
7
USD million
Restricted shares plan
The restricted shares plan was introduced in 2013 and
grants have been awarded to employees on a yearly basis
since 2013. Beginning in 2018, grants have also been
awarded to members of the Executive Board.
The transfer of restricted shares is contingent upon the
employee still being employed and not being under notice
of termination and takes place when three years have
passed from the time of granting. For members of the
Executive Board the vesting period is five years.
The members of the Executive Board as well as other
employees are not entitled to any dividends during the
vesting period. Special conditions apply regarding illness,
death and resignation as well as changes in the company's
capital structure, etc. A part of A.P. Møller-Mærsk A/S'
holding of own B shares will be used to meet the company's
obligations in connection with the restricted shares plan.
The fair value of restricted shares (A.P. Møller-Mærsk A/S
B shares) granted to 96 (92) employees and five (five) mem-
bers of the Executive Board was USD 7m (USD 7m) at the
time of grant.
The fair value per restricted share at the time of grant is DKK
5,975 (DKK 8,668), which is equal to the volume weighted
average share price on the date of grant, i.e. 1 April 2020.
The payroll expense related to the restricted shares plan
is USD 1m (USD 1m).
On 1 April 2020, the restricted shares originally granted
in 2017 were settled with the employees. The weighted
average share price at that date was DKK 5,975.
The average remaining contractual life for the restricted
shares as per 31 December 2020 is 1.8 years (1.7 years).
1 At the time of grant.View entire presentation