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In the preparation of a proposal to the Annual General Meeting on the remuneration of the members of the Board, the Nomination and Remuneration Committee of the Board of Directors takes into consideration the remuneration development in relevant markets and peer companies in addition to the Sampo Group Remuneration Principles and Sampo plc´s Remuneration Policy for Governing Bodies.
In accordance with the decision of the Annual General Meeting, the members of the Board are paid the following fees, which were slightly increased, until the close of the next Annual General Meeting: The Chair of the Board is paid an annual fee of EUR 184,000 and the members of the Board are paid EUR 95,000 each. Additionally, the Vice Chair of the Board and the Chair of the Audit Committee are paid EUR 26,000, and the members of the Audit Committee are paid EUR 6,000. The Board members do not receive separate meeting fees. Potential statutory social and pension costs incurring to the Board members having permanent residence outside Finland are, according to applicable national legislation, borne by Sampo. In addition, actual travel and accommodation costs incurring to a Board member are reimbursed. No other financial benefits are paid to the members of the Board.
A Board member shall, in accordance with the resolution of the Annual General Meeting, acquire Sampo A shares at the price paid in public trading for 50 per cent of his/her annual fee after deduction of taxes, payments and potential statutory social and pension costs. Sampo pays any possible transfer tax related to the acquisition of the shares. A Board member shall be obliged to retain the Sampo A shares under his/her ownership for two years from the purchasing date. The disposal restriction on the Sampo shares shall, however, become unbinding if the term of the Board membership ends prior to the two-year period.
The members of the Board are not in an employment or service relationship with Sampo or any other Sampo Group company and are not covered by any employment-related remuneration systems. The members of the Board do not participate in Sampo's incentive schemes.