Skip to main contentSkip to navigationSkip to search

Incentive programs

Camurus has four long-term share-based incentive programs active for the company’s employees, three subscription warrant programs and one employee option program. The programs were adopted by the Annual General Meeting in 2018, 2019, 2020 and 2021.

Subscription warrant programs

The warrants are valued by an independent institute in accordance with Black&Scholes model and are acquired by the participants at market value. As part of the program, the participants receive a three-piece stay-on bonus from the company in form of gross salary additions equivalent to the amount paid by the participant for the subscription warrants. As the stay-on bonus is conditional on continued employment, costs including social security fee, are based on how much has been earned, and are expensed over the vesting period. Expenses are recognized as personnel cost in the income statement.

Employee option program

The options are granted free of charge. Once vested, the options can be exercised provided that the participant is still employed. Each vested option gives the holder the right to acquire one share in Camurus at a pre-defined price. The incentive program comprises a maximum of 1,215,500 employee stock options. The fair value of the service that entitles to the allotment of options through the program is reported as a personnel cost with a corresponding increase in equity. The total amount to be expensed is based on the fair value of the employee stock options granted, including the share target price, and that the employee remains in the company’s service during the exercise period. The total cost is reported over the vesting period. At the end of each reporting period, the company reconsiders its assessment of how many options are expected to be exercised and the difference is reported in the income statement and a corresponding adjustment is made in equity. As a basis for allocating social security contributions, a revaluation of fair value is continuously made for the employee stock options earned at the end of each reporting period. Social security contributions are reported as personnel costs and the corresponding provision is made under long- or short-term liabilities depending on the remaining term.

For more information about each program see the below table: