In recognition of the contribution made by DFDS’ employees in recent years to the company’s growth and to celebrate the company’s 150 year anniversary, the Board of Directors has awarded 30 shares to each employee.
The total number of employees eligible for the award of shares exceeds 7,000 and the total value of awarded shares equals DKK 70m at today’s share price.
“In recent years DFDS’ performance has been considerably improved, not least due to the efforts of DFDS’ dedicated employees. To recognise this effort and to strengthen the bond between DFDS and its employees, and as a fitting tribute to DFDS’ 150 year anniversary, the Board of Directors has decided to award shares to all employees,” says Bent Østergaard, Chair of DFDS’ Board of Directors.
Terms of the share award
The award of shares is made as a Restricted Stock Unit Plan. A restricted stock unit represents the grant to the employees of one DFDS share to be transferred to a par-ticipating employee in February 2020 depending on continued employment. The transfer will be made free of charge.
The Plan is based on DFDS A/S’ sale of shares from its holding of treasury shares to the employees and thus no new shares will be issued in February 2020.
The cost of the share award will be expensed monthly in the income statement pro-portionately under special items until the end of the vesting period in February 2020.
DFDS’ 150 year anniversary
On 11 December 2016, 150 years had passed since DFDS was founded in 1866 by C. F. Tietgen, one of Denmark’s greatest industrialists of the 19th century.