Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

Share-Based Compensation (Tables)

v3.25.4
Share-Based Compensation (Tables)
12 Months Ended
Dec. 31, 2025
Disclosure of terms and conditions of share-based payment arrangement [abstract]  
Summary of Fair Value of RSU and PSU Awards Measured Using the Share Price at the Grant Date

 

 

Long Term Incentive Plan 2023 -2027

 

Long Term Incentive Plan 2023 -2027

 

Long Term Incentive Plan 2023 -2027 - further assignments

 

Long Term Incentive Plan 2023 -2027

 

Long Term Incentive Plan 2023 -2027 - further assignments

 

 

 

Granted in 2023

 

Granted in 2024

 

Granted in 2024

 

Granted in 2025

 

Granted in 2025

 

Performance Share Units (PSUs)

 

EUR 16.44

 

EUR 23.03

 

EUR 16.92

 

EUR 18.64

 

 

 

Restricted Share Units (RSUs) - I Installment

 

EUR 16.54

 

EUR 23.16

 

EUR 17.03 - 17.43 - 18.67

 

EUR 18.75

 

EUR 19.68

 

Restricted Share Units (RSUs) - II Installment

 

EUR 16.49

 

EUR 23.11

 

EUR 16.98 - 17.39 - 18.62

 

EUR 18.69

 

EUR 19.62

 

Restricted Share Units (RSUs) - III Installment

 

EUR 16.44

 

EUR 23.03

 

EUR 16.92 - 17.34 - 18.56

 

EUR 18.64

 

EUR 19.57

 

Summary of Outstanding Number of PSUs and RSUs

Changes to the outstanding number of PSU and RSU awards under the equity incentive plans of the Group are as follows:

number of shares

 

Outstanding
PSUs

 

 

Outstanding RSUs

 

At January 1, 2023

 

 

 

 

 

 

Granted (*)

 

 

145,670

 

 

 

145,670

 

Forfeited

 

 

(1,390

)

 

 

(1,390

)

At December 31, 2023

 

 

144,280

 

 

 

144,280

 

Granted (**)

 

 

84,321

 

 

 

109,037

 

Forfeited

 

 

(42,471

)

 

 

(40,794

)

Vested (***)

 

 

 

 

 

(40,484

)

At December 31, 2024

 

 

186,130

 

 

 

172,039

 

Granted (****)

 

 

205,110

 

 

 

130,344

 

Forfeited

 

 

(132,696

)

 

 

(73,401

)

Vested (*****)

 

 

 

 

 

(82,253

)

At December 31, 2025

 

 

258,544

 

 

 

146,729

 

 

*Granted under the Performance Shares Plan 2023-2027 and the Restricted Shares Plan 2023-2027 for the First Vesting Period

**Granted under the Performance Shares Plan 2023-2027 and the Restricted Shares Plan 2023-2027 for the Second Vesting Period

***The vested shares related to the RSUs I Installment were awarded to the beneficiaries on June 10, 2024

****Granted under the Performance Shares Plan 2023-2027 and the Restricted Shares Plan 2023-2027 for the Third Vesting Period.
*****The vested shares related to the RSUs II Installment for the First Vesting Period and the RSUs I Installment for the Second Vesting Period were awarded to the beneficiaries on June 10 and 13, 2025 and September 11, 2025.

Summary of Outstanding Number of Shares for the Share Based Compensation of Board Members

Changes to the outstanding number of shares for the share-based compensation of Board members are as follows:

number of shares

Outstanding RSUs

 

At January 1, 2024

 

44,996

 

Granted (*)

 

22,750

 

Vested (**)

 

(44,996

)

Forfeited

 

(3,250

)

At December 31, 2024

 

19,500

 

Granted (***)

 

39,800

 

Vested (****)

 

(19,500

)

At December 31, 2025

 

39,800

 

*Granted on May 22, 2024

**The vested shares were granted to Board members in 2022 and 2023 and were subject to the condition of tenure until the date of approval of the financial statements of the Company as at December 31, 2023. The vested shares were awarded to the beneficiaries on June 10, 2024.

*** Granted on May 23, 2025.

****The vested shares that were granted in 2024 were awarded to the Board members on June 10 and 13, 2025.