The Board of Directors (Board) has established a remuneration committee (Remuneration Committee or the Committee). The Committee provides oversight in preparing the Remuneration Policy. It evaluates and makes recommendations for the remuneration of the Board and the Executive Group Management Board (EGMB) members. It also approves the remuneration of the Executive Group Management (EGM).
The Committee reviews the Remuneration Policy at least once a year and ensures that the remuneration complies with the Remuneration Policy.
The Committee may engage independent external advisers to advise the Committee in matters relating to remuneration and other related matters comprised by the tasks of the Committee.
The Remuneration Committee held eleven meetings in 2021.
In 2021, the Remuneration Committee continued its focus on evaluating the remuneration of the Board and EGMB, including the Short Term Incentive Program for 2021 (STIP) and the Long Term Incentive Program for 2021 (LTIP). In addition, the Committee evaluated the Remuneration Policy and the Remuneration Report.
The activities of the Remuneration Committee for 2021 are further described in the Remuneration Report.
The members of the Remuneration Committee are considered independent based on the definition outlined in the Danish Corporate Governance Recommendations.