Better Collective establishes new Long Term Incentive Plan for key employees in the Better Collective group
Regulatory Release no. 6/2022
January 27, 2022
The board of directors (the “Board”) of Better Collective A/S has today decided to implement a new Long Term Incentive Plan (the “LTI”) for key employees in the Better Collective group. Grants under the new LTI will be in the form of performance share units and share options vesting over a 3-year period. The executive management of Better Collective A/S will not receive any grants under the LTI.
The LTI has been designed by the Remuneration Committee and approved by the Board with the focus to appropriately retain, motivate and reward selected key employees in the Better Collective group. The intent is also to support sustainable value creation for the shareholders as well as aligning the interests of participants in the LTI to those of the Better Collective A/S’ shareholders. To achieve this, the LTI provides an opportunity to participate in the value creation of Better Collective A/S by rewarding business performance against selected metrics as well as share price growth.
In total the grants under the LTI in 2022 covers 71,432 performance share units and 23,221 share options to 35 key employees in total. Though it is the intention that the program will be revolving with a yearly grant, the size of such grants and the allocation hereof in the following years, will be at the full discretion of the Board.
The total value of the 2022 LTI grant program is 1.4 mEUR (Calculated @Black-Scholes value) measured at the target level, which is to say 100% achievement of the financial goals. If the financial goals are not met, the value of these grants will be zero. If exceptional performance above target is achieved on the financial goals, the maximum value of the 2022 LTI grants can reach 2.8mEUR (@Black-Scholes value), assuming a constant share price.
The grant value of the program (Black Scholes formula) will be evenly expensed as an employee remuneration cost during the vesting period. The cost will be revalued at each period based on the forecasted performance on the financial KPIs at that time and the expected retention rate of the employees included in the program.
The LTI will have no dilutive effect on Better Collective A/S' shareholders, since Better Collective A/S intends to initiate share buy-back programs to meet its obligations under the LTI.
The details of the plan can be found in the attached Appendix 1.
Investor Relations: Christina Bastius Thomsen +45 2363 8844
This information is such information as Better Collective A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on January 27, 2022 at 9:00 p.m. CET.
About Better Collective
Better Collective is a global sports betting media group providing platforms that empower and enhance the betting experience for sports fans and iGamers. Aiming to make betting and gambling more entertaining, transparent and fair, Better Collective offers a range of editorial content, bookmaker information, data insights, betting tips, iGaming communities and educational tools. Its portfolio of platforms include bettingexpert.com, VegasInsider.com, HLTV.org and Action Network. Better Collective is headquartered in Copenhagen, Denmark, and listed on Nasdaq Stockholm (BETCO). More information at bettercollective.com.
- BC Regulatory release no. 6_2022 LTI 2022.01.27
- Appendix to BC regulatory release 6_2022 LTI 2022.01.27
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