Remuneration statement

The Board of Directors

The company’s Board of Directors confirms the remuneration and other benefits paid to the President and CEO and other members of the Management Group and decides on the company’s incentive schemes.

The Annual General Meeting, held on 27 March 2024, resolved that an annual fixed remuneration of the members of the Board of Directors is paid as follows:

  • The Chair is paid EUR 69,000
  • The Vice Chair is paid EUR 51,000
  • Members are each paid EUR 39,000

The AGM also resolved that the members of the Board of Directors are paid a meeting-specific fee as follows: EUR 1,000 to the Chair of the Board of Directors and EUR 500 to the members of the Board of Directors per each meeting held in the home country of the respective member, and EUR 1,500 to the Chair of the Board of Directors and EUR 1,000 to the members of the Board of Directors per each meeting held elsewhere than in the home country of the respective member.

An elected member of the Board of Directors may, at his/her discretion, choose to receive the annual fixed remuneration partly in company shares and partly in cash so that approximately 40% of the annual fixed remuneration is paid in Detection Technology Plc’s shares. The number of shares forming the above remuneration portion, which would be payable in shares, will be determined based on the share value in the public trading maintained by Nasdaq Helsinki Ltd, calculated as the trade volume weighted average quotation of the share during the one-month period immediately following the date on which the interim report of January-March 2024 of the company is published.

The members of the Audit Committee and the Remuneration Committee are paid a meeting fee of EUR 500 per meeting. The travel expenses of the members of the Board of Directors as well as the Audit Committee and the Remuneration Committee are compensated in accordance with the Company’s travel rules.

Remuneration and meeting fees of the Board of Directors paid in 2023 and 2022 (EUR)

2023 2022
Annual remuneration Meeting fees Total Annual remuneration Meeting fees Total
Hannu Syrjälä,
Chair
65,000 11,500 76,500 65,000 13,500 78,500
Henrik Roos,
Vice Chair
46,000 9,000 55,000 36,511 13,500 50,011
Carina Andersson,
Member
27,750 8,500 36,250 45,750 14,000 59,750
Vera Backström,
Member *
8,750 2,000 10,750
Marion Björkstén,
Member
37,000 7,000 44,000 27,953 5,500 33,453
Richard Ingram,
Member
37,000 10,000 47,000 45,750 13,500 59,250
Pasi Koota,
Member
37,000 7,000 44,000 37,000 8,000 45,000
Total 249,750 53,000 302,750 266,714 70,000 336,714

*Vera Backström acted as a member of the Board until 30 March 2022

Remuneration of the Board of Directors in shares in 2023 (pcs)

Hannu Syrjälä, Chair 1,364
Richard Ingram, Member 776
Pasi Koota, Member 776
Total 2,916

President and CEO

Remuneration of the President and CEO consists of salary, fringe benefits, a possible annual bonus based on performance and a share-based incentive scheme. The President and CEO remuneration includes an entitlement to an annual incentive of a maximum of six months’ salary.

The Board of Directors decides on the service terms and conditions of the President and CEO, specified in writing. The President and CEO is subject to six months’ notice and is entitled to a salary for the period of notice should the Company give notice, in addition to which he is entitled to severance pay equivalent to 12 months’ fixed salary.

In addition to the statutory pension, the President and CEO is eligible supplementary pension benefit. The pension age applied to the CEO is 62 years.

Remuneration of the President and CEO paid in 2023 and 2022 (EUR)

2023 2022
Base salary and benefits Short-term incentives Long-term incentives Total Base salary and benefits Short-term incentives Long-term incentives Total
EUR 320,407 25,214 345,621 315,375 29,667 345,042
Share of remuneration element, % 93% 7% 0% 100% 91% 9% 0% 100%
Voluntary pension contribution, EUR 8,896 8,964

No long-term incentive (LTI) payments were made to the President and CEO during 2023. In 2023, the President and CEO was granted with 7,000 shares by the Board of Directors within the Performance Share Plan (PSP) 2023–2025. In 2022, the President and CEO was granted with 7,000 shares by the Board of Directors within the Performance Share Plan (PSP) 2022-2024. The grant represents the target level reward, the maximum reward being four times the target allocation. Final reward is determined based on the extent to which the targets have been reached during the performance period.

Performance share plan LTI target
(pcs of shares)
Performance criteria Weight Performance Payment
PSP 2022–2024 7,000 Absolute Total Shareholder Return 100% – / Plan ongoing H1 / 2025
PSP 2023–2025 7,000 Absolute Total Shareholder Return 100% – / Plan ongoing H1 / 2026

Management Group

The Management Group’s remunerations consist of salary, fringe benefits, a possible annual bonus based on performance and a share-based incentive scheme. The compensation principles of the Management Group members are decided by the Board of Directors. The Management Group’s remuneration program includes an entitlement to an incentive of up to four months’ salary.

The pension and retirement age for the members of the Management Group are determined in accordance with the applicable legislation in force regarding pension.

Remuneration of the members of the Management Group in 2023 and 2022 (EUR)
(excluding the President and CEO)

2023 2022
Salaries and benefits 1,041,533 1,015,465
Performance-based incentives paid in cash 60,205 73,008
Proceeds from LTI program 2018A 0 0
Total 1,101,738 1,088,472

Long-term incentive plans

The company’s current long-term incentive plans consist of performance share plans and stock option plans.

Performance share plans

The grant represents the target level reward, the maximum reward being four times the target allocation. Final reward is determined based on the extent to which the targets have been reached during the performance period.

PSP 2023-2025
(pieces of shares)
PSP 2022-2024
(pieces of shares)
President and CEO, Martola Hannu 7,000 7,000
Other Management Group members 17,500 17,500
TOTAL 24,500 24,500

Stock option plans

The amount (pcs) of outstanding stock options 2018 and 2020 of President and CEO and Management Group members are presented in the table below.

2020 B1 and B2
2020 A1 and A2 2018 B1 and B2 
President and CEO, Martola Hannu 33,300 40,000 40,000
Other Management Group members 105,000 105,00 89,900
Total 138,300 145,000 129,900

The current stock option plans, exercise periods and subscription prices

Stock option plan Exercise period Subscription price (EUR)
2018B1 and 2018B2 2.5.2022–31.5.2023 19.45
2020A1 and 2020 2.5.2023–31.5.2024 18.05
2020B1 and 2020B2 2.5.2024–31.5.2025 30.77