Telefonaktiebolaget LM Ericsson's (NASDAQ:ERIC)
Annual General Meeting (AGM) was held on April 14, 2015 in
Stockholm.
Dividend
The proposed dividend of SEK 3.40 per share was
approved by the AGM. The record day for dividend was set to
Thursday, April 16, 2015. Payment from Euroclear Sweden AB is
expected to take place on Tuesday, April 21, 2015.
Adoption of the Profit and Loss
Statements and the Balance Sheets
The AGM resolved to adopt the Profit and Loss
Statement and the Balance Sheet for the Parent Company as well as
the Consolidated Profit and Loss Statement and the Consolidated
Balance Sheet for the Group for 2014.
Discharge from liability
The members of the Board of Directors and the
President were discharged from liability for the fiscal year
2014.
Board of Directors
In accordance with the proposal of the Nomination
Committee, Leif Johansson was reelected Chairman of the Board of
Directors. Roxanne S. Austin, Nora Denzel, Börje Ekholm, Alexander
Izosimov, Ulf J. Johansson, Kristin Skogen Lund, Hans Vestberg and
Jacob Wallenberg were re-elected to the Board and Anders Nyrén and
Sukhinder Singh Cassidy were elected new Board members.
Board of Directors' Fees
The AGM resolved, in accordance with the
Nomination Committee's proposal, on a yearly fee to the Chairman of
the Board of SEK 4,000,000 (previously SEK 3,975,000), and fees to
other non-employee members of the Board, elected by the AGM, of SEK
975,000 each (previously SEK 950,000 each). Fees for Committee work
to non-employee members of the Committees, elected by the AGM, were
approved as follows (unchanged); SEK 350,000 to the Chairman of the
Audit Committee and SEK 250,000 to each of the other members of the
Audit Committee, SEK 200,000 to each of the Chairmen of the Finance
and Remuneration Committee and SEK 175,000 to each of the other
members of the Finance and Remuneration Committee.
The AGM approved the Nomination Committee's
proposal to enable payment of part of the fees to the members of
the Board for the Board assignment, in the form of synthetic
shares.
Auditor
The AGM elected PricewaterhouseCoopers AB auditor
for the period up until the end of the AGM 2016.
Guidelines for Remuneration to
Group management
In accordance with the Board of Directors'
proposal, the AGM resolved to approve the Guidelines for
remuneration to Group management.
Long-Term Variable Compensation
Program (LTV)
In accordance with the Board of Directors'
proposals, the AGM resolved as follows:
LTV 2015 and transfer of treasury stock
-
Implementation of LTV 2015, with the same
structure as previous programs. The program comprises in total up
to 28.4 million B shares and includes the Stock Purchase Plan for
all employees, the Key Contributor Retention Plan and the Executive
Performance Stock Plan. All plans are based on the employees' own
investment in Ericsson shares. If the shares are retained for a
period of three years and the employment remains, the participants
obtain matching shares from the company. The following performance
criteria were resolved for the Executive Performance Stock Plan
2015; net sales compound annual growth rate between 2 and 6 percent
(2014-2017), operating income compound annual growth rate between 5
and 15 percent (2014-2017), and cash conversion at or above 70
percent annually (2015, 2016 and 2017).
-
Transfer of up to 23.5 million B shares during
the period November 2015 up to and including November 2019, free of
consideration, to employees covered by the terms of the LTV
2015.
-
Transfer of up to 4.9 million B shares on Nasdaq
Stockholm, prior to the AGM 2016, at a price within the at each
time prevailing price interval for the share, to cover certain
expenses, mainly social security charges.
The Company has approximately 3.3 billion shares
in issue. The 28.4 million B shares allocated for LTV 2015 now
correspond to less than 1 percent of the total number of
outstanding shares.
Transfer of treasury stock for previously resolved
LTV programs
-
Transfer of approximately 19.2 million B shares
on Nasdaq Stockholm prior to the AGM 2016 to cover certain
expenses, mainly social security charges, which may occur in
relation to the Long-Term Variable Compensation Programs 2011,
2012, 2013 and 2014.
NOTES TO EDITORS
Download high-resolution photos and
broadcast-quality video at www.ericsson.com/press
Ericsson is the driving force
behind the Networked Society - a world leader in communications
technology and services. Our long-term relationships with every
major telecom operator in the world allow people, business and
society to fulfill their potential and create a more sustainable
future.
Our services, software and
infrastructure - especially in mobility, broadband and the
cloud - are enabling the telecom industry and
other sectors to do better business, increase efficiency, improve
the user experience and capture new opportunities.
With approximately 115,000
professionals and customers in 180 countries, we combine global scale with technology and services
leadership. We support networks that connect more than 2.5 billion
subscribers. Forty percent of the world's mobile traffic is carried
over Ericsson networks. And our investments in research and
development ensure that our solutions - and our customers - stay in
front.
Founded in 1876, Ericsson has its
headquarters in Stockholm, Sweden. Net sales in 2014 were SEK 228.0
billion (USD 33.1 billion). Ericsson is listed on NASDAQ OMX stock
exchange in Stockholm and the NASDAQ in New York.
www.ericsson.com
www.ericsson.com/news
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www.youtube.com/ericsson
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Communications
Phone: +46 10 719 69 92
E-mail: media.relations@ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail: investor.relations@ericsson.com
Ericsson Annual General Meeting
2015
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Ericsson via Globenewswire
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