AI assistant
Solteq Oyj Remuneration Information 2025
3341_rns_2025-03-05_c9ceaf26-cd85-4183-9868-fc5ffa63fb67.pdf
Remuneration Information
Open in viewerOpens in your device viewer
SOLTEQ
Remuneration Report
2024
Remuneration Principles
The Remuneration Report contains information on the remuneration of Solteq Plc's Board of Directors and CEO from January 1 to December 31, 2024. The report has been prepared in accordance with the recommendations of the Corporate Governance Code 2025 and the requirements of the Finnish Securities Markets Act and Limited Liability Companies Act.
The remuneration of Solteq Plc's governing bodies is based on the remuneration policy, which was determined at the Annual General Meeting held on March 27, 2024. The remuneration policy is presented to the Annual General Meeting whenever significant changes are made to it, but at least every four years, unless legislation or other regulations require otherwise.
In 2024, a change to the CEO's short- and long-term incentive schemes was approved. The change allows remuneration paid under short-term incentive schemes to be a maximum of 75% of the fixed annual salary, and at the target level, the weight of the long-term incentive schemes constitutes a significant part of the CEO's overall remuneration. The change aims to ensure that any potential variable remuneration emphasizes the achievement of the company's long-term objectives.
The Company's remuneration policy was implemented accordingly in 2024, and no exceptions were made. This remuneration report contains essential information on the remuneration paid and due to the Company's Board of Directors and CEO for the financial year 2024.
The Remuneration Report will be presented at the Annual General Meeting in 2025. In addition, the remuneration report is also published in a stock exchange bulletin and on the Company's website.
Solteq's Performance and Remuneration Development
The Board of Directors' remuneration is based on monthly fees and remuneration paid per meeting, which the Annual General Meeting decides. From January 1 to December 31, 2024, the board members were paid a monthly fee of EUR 2,500, and the Chairman of the Board was paid a monthly fee of EUR 5,000. In addition, each board member was paid EUR 500 per meeting.
In 2024, the CEO's remuneration consisted of a fixed salary based on the CEO's contract. The CEO had no performance-based or other short- or long-term incentive schemes.
The following compares the development of the Company's results and the average salary of its employees with the remuneration of the Board of Directors and CEO over the past five years.
SOLTEQ
SOLTEQ
Development of Key Figures
*) Comparison periods' figures adjusted
Remuneration of the Board of Directors
The Annual General Meeting decides on the remuneration paid to the Board of Directors. In accordance with the decisions made in the 2024 Annual General Meeting, the Chairman of the Board was paid a monthly fee of EUR 5,000, and other Board members were paid a monthly fee of EUR 2,500 between January 1, 2023, and December 31, 2024. All Board members were paid a meeting fee of EUR 500 for Board and Committee meetings. Board members' travel expenses were compensated in accordance with the Company's applicable travel guidelines. Remuneration paid and due to the Company's Board of Directors for the financial year 2024:
| TEUR | Annual Remuneration | Meeting Remuneration | Total Remuneration |
|---|---|---|---|
| Markku Pietilä, Chairman of the Board | 60.0 | 8.0 | 68.0 |
| Lotta Airas (Mar 27–Dec 31, 2024) | 22.5 | 4.5 | 27.0 |
| Katarina Cantell | 30.0 | 7.0 | 37.0 |
| Esko Mertsalmi | 30.0 | 5.5 | 35.5 |
| Panu Porkka | 30.0 | 5.0 | 35.0 |
| Anni Sarvaranta | 30.0 | 5.5 | 35.5 |
| Mika Sutinen | 30.0 | 6.5 | 36.5 |
| Total | 232.5 | 42.0 | 274.5 |
The meeting fees also include the fees paid for the Committee meetings.
2
SOLTEQ
CEO's Remuneration
The Board of Directors decides on the terms and conditions of the CEO's service agreement and on the CEO's remuneration in accordance with the remuneration policy.
The CEO was paid a fixed remuneration (a fixed part) in accordance with the CEO's service agreement. In 2024, the CEO did not have any performance-based or other short or long-term incentive schemes (possible variable part) in addition to the basic salary.
Remuneration paid and due to the CEO for the financial year 2024:
| TEUR | Fixed Salary |
|---|---|
| Aarne Aktan | 350.4 |
| Total | 350.4 |
The remuneration paid to the CEO includes taxable fringe benefits.
Other key terms:
- The CEO's notice period is 6 months
- No severance pay is stipulated by the CEO's contract
In accordance with the Remuneration Policy, the Board of Director's may decide changes to the remuneration of the CEO and deputy CEO. The remuneration paid may consist of a fixed salary, fringe benefits, and short and long-term incentive schemes.
3
SOLTEQ
Solteq Plc
Revontulenkuja 1
02100 Espoo