Ericsson Authorizes Transfer of Own Shares to Cover Compensation Program Costs

Ericsson Authorizes Transfer of Own Shares to Cover Compensation Program Costs

(IN BRIEF) Ericsson (NASDAQ:ERIC) has announced that it will be exercising its authorization granted at the annual general meeting on March 29, 2023, to transfer the company’s own shares. This decision allows Ericsson to retain and sell up to 60% of the vested shares of series B to cover costs associated with tax and social security liabilities related to performance share awards under the long-term variable compensation programs 2019 and 2020 (LTV 2019 and LTV 2020). The shares will be transferred on Nasdaq Stockholm from February 16, 2024, until the annual general meeting in 2024, at a price within the registered price interval. Currently, Ericsson holds 12,932,223 shares of series B, and the maximum number of shares that may be transferred amounts to 774,889 shares.

(PRESS RELEASE) STOCKHOLM, 16-Feb-2024 — /EuropaWire/ — Ericsson (NASDAQ: ERIC), a Swedish multinational networking and telecommunications company, announced today its decision to leverage the authorization granted at the company’s annual general meeting on March 29, 2023, pertaining to the transfer of its own shares. This strategic move allows Ericsson to retain and sell up to 60% of vested shares of series B in conjunction with the long-term variable compensation programs 2019 and 2020 (LTV 2019 and LTV 2020). The objective is to cover costs associated with tax and social security liabilities linked to performance share awards, ensuring smooth remittance to revenue authorities. Ericsson’s proactive approach reflects its commitment to effectively manage compensation expenses while upholding shareholder value.

The transfer of own shares will be facilitated on Nasdaq Stockholm from February 16, 2024, until the annual general meeting in 2024, offering flexibility in timing and execution. With a current holding of 12,932,223 shares of series B, Ericsson aims to transfer a maximum of 774,889 shares, aligning with its strategic goals and financial objectives.

NOTES TO EDITORS:

FOLLOW US:

Subscribe to Ericsson press releases here
Subscribe to Ericsson blog posts here
https://twitter.com/ericsson
https://www.facebook.com/ericsson
https://www.linkedin.com/company/ericsson

MORE INFORMATION AT:
Ericsson Newsroom
media.relations@ericsson.com  (+46 10 719 69 92)
investor.relations@ericsson.com  (+46 10 719 00 00)

ABOUT ERICSSON:
Ericsson enables communications service providers and enterprises to capture the full value of connectivity. The company’s portfolio spans the following business areas: Networks, Cloud Software and Services, Enterprise Wireless Solutions, Global Communications Platform, and Technologies and New Businesses. It is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s innovation investments have delivered the benefits of mobility and mobile broadband to billions of people globally. Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com

SOURCE:  Telefonaktiebolaget LM Ericsson