The Annual General Meeting decides on the remuneration of the Board of Directors.
The Annual General Meeting 2022 decided on the annual fees of the Board of Directors as follows:
- Chairman EUR 66,000/year
- Members EUR 33,000/year
- Chairman of the Audit Committee: EUR 49,000 per year, provided that the Chairman of the Audit Committee does not simultaneously serve as the Chairman or Deputy Chairman of the Board of Directors.
In addition, EUR 400 per meeting is to be paid to the members of the Board of Directors’ Audit Committee as a meeting fee. However, a separate meeting fee will not be paid to the chairman of the Audit Committee.
Out of the annual remuneration paid to the Board members, 40% of the total gross remuneration amount is used to purchase Teleste Corporation’s shares for the Board members through trading on the regulated market organised by Nasdaq Helsinki Ltd, and the rest is paid in cash.
In addition, reasonable travel expenses shall be reimbursed to the members of the Board of Directors in accordance with the Company practice applicable at the time, excluding daily allowance. The members of the Board of Directors are not employed by the Company and are not covered by the company’s incentive or pension schemes. The members of the Board of Directors are not covered by the company’s remuneration schemes.
The shareholdings and annual fees of the members of the Board of Directors are presented in the Remuneration Report for the Company’s Governing Bodies.