Remuneration
General
According to the Limited Liability Companies Act, the Annual General Meeting of shareholders decides on the remuneration payable to the members of the Board of Directors (the “Board”). The Board prepares the presentation for the remuneration of Board members to the General Meeting.
The Board of Directors decides on the remuneration of the CEO and members of the Management Team. With respect to the members of the Management Team, the Remuneration Committee is responsible for, among other things, preparing proposals concerning remuneration as well as incentive and other benefit plans to the Board for approval.
With respect to the CEO, the Remuneration Committee reviews and prepares proposals to the Board on corporate goals and objectives relevant to the compensation of the CEO. The Remuneration Committee also evaluates the performance of the CEO in light of these goals and objectives and prepares a proposal to the Board on the compensation of the CEO (including each of the components thereof) based on its evaluation.
The Remuneration Committee of the Board of Directors is responsible for reviewing and preparing proposals to the Board of Directors on overall compensation policies. The Remuneration Committee is also responsible for ensuring that the CEO and the members of the Management Team are rewarded appropriately for their contributions to the company’s growth and profitability and that compensation policies are aligned with the company’s business strategy, long-term financial success and shareholder interests. The Remuneration Committee also reviews and evaluates on at least an annual basis the company’s compensation and other benefit plans, including incentive compensation and equity-based plans and programs.
Remuneration of the Board of Directors
The Annual General Meeting decided, in accordance with the proposal of the Board of Directors that the members of the Board of Directors be paid the following annual remuneration:
- Chair of the Board of Directors: EUR 65,000
- Other members of the Board of Directors: EUR 35,000
In addition, members of the Audit Committee and the Remuneration Committee of Board of Directors will be paid the following annual remuneration:
- Chair of the Committee: EUR 7,500
- Other Committee members: EUR 5,000
The Annual General Meeting decided, in accordance with the proposal of the Board of Directors, that the aforementioned remuneration shall not be paid to Board members who are employed by the company’s ultimate parent company, Sonae SGPS, S.A.
Additionally, due to the longer duration of the previous financial year (1 October 2023 – 31 December 2024, totaling 15 months) the Annual General Meeting decided, in accordance with the proposal of the Board of Directors, that the following remuneration be paid to the then-current members of the company’s Board of Directors for the period 1 October 2024 – 31 December 2024, i.e., for the portion exceeding a customary 12-month financial year:
- Chair of the Board of Directors: EUR 16,250
- Other members of the Board of Directors: EUR 8,750
Additionally, also due to the aforementioned reason, the Annual General Meeting decided, in accordance with the proposal of the Board of Directors, that the following remuneration be paid to the then-current members of the Audit Committee and the Remuneration Committee for the period 1 October 2024 – 31 December 2024, i.e., for the portion exceeding a customary 12-month financial year:
- Chair of the Committee: EUR 1,875
- Other Committee members: EUR 1,250
The Annual General Meeting decided, in accordance with the proposal of the Board of Directors, that the aforementioned remuneration shall not be paid to Board members who are employed by the company’s ultimate parent company, Sonae SGPS, S.A.
Remuneration of the CEO and Management Team
The remuneration of the CEO and the Management Team are presented in detail in the Remuneration Policy, approved by the Annual general Meeting 29.4.2025.
Remuneration Report and Remuneration Policy
