DSV Annual Report 2022
80
DSV Annual Report 2022
Consolidated financial statements 2022
= III
6.2 Share option schemes - continued
Share option schemes
DSV has launched incentive share-based payment schemes with the
purpose of motivating and retaining key employees across the organisa-
tion. Share options are awarded at all levels in the organisation, e.g.
from team leads, specialists, branch managers, country managers, up to
Executive Management.
Retention is motivated by requiring continued service for a period cover-
ing the vesting period as a minimum. The schemes are also intended to
align the interests of employees and shareholders.
All active schemes entail a three-year vesting period and a two-year ex-
ercise period. In case of a change of control, all outstanding share options
will vest. Exercise prices are set based on the quoted market prices lead-
ing up to the date of granting. The share options can be exercised by cash
purchase of shares only. The obligation relating to the schemes is partly
covered by the Company's treasury shares.
Share options are granted pursuant to the procedures laid down in the
Group's Remuneration Policy applicable in the relevant year.
A total of 2,988 employees held share options at 31 December 2022
(2021: 2,625 employees).
Total costs recognised in 2022 for services received but not recognised
as an asset amounted to DKK 202 million (2021: DKK 160 million).
The average share price for options exercised in the financial year was DKK
1,093.4 per share at the date of exercise (2021: DKK 1,324.5 per share).
Granted
Transferred*
Exercised
Executive
Outstanding share options
Board
Key
employees
Total
Average exercise
price per option
Outstanding at 1 January 2021
760,000
8,646,129
156,750
36,000
(190,000)
2,281,550
9,406,129
2,438,300
507.2
1,325.0
Options waived/expired
Outstanding at 31 December 2021
762,750
(36,000)
(1,953,556)
(123,475)
8,814,648
(2,143,556)
427.9
(123,475)
684.7
9,577,398
730.9
Outstanding at 1 January 2022
Granted
762,750
198,250
(12,000)
8,814,648
2,442,650
(1,279,573)
(164,925)
9,577,398
730.9
2,640,900
(1,291,573)
(164,925)
1,485.0
479.1
1,091.6
949,000
9,812,800
10,761,800
940.6
Exercised
Options waived/expired
*
Outstanding at 31 December 2022
A member of the Executive Board has previously received share options in the Director's former capacity as a key employee.View entire presentation