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Share-based incentive program 2022/23


Nørresundby, Denmark, 16 February 2023
Announcement no. 07/2023

The Board of Directors of RTX A/S has decided to continue the share-based incentive program in accordance with the current remuneration policy adopted at the Annual General Meeting on 26 January 2023. Therefore, RTX will launch a share-based incentive program for 2022/23 comprising a long-term share-based bonus in the form of Restricted Share Units (“RSU”) as defined in the remuneration policy and as further described below.

The remuneration policy of RTX is available at in the “Investors” section.

Restricted Share Units
As in previous years, the long-term share-based bonus in the form of RSUs will be earned and matured over a three-year period based on the continued employment of each participant and based on a minimum floor level of earnings is achieved in the three-year period from the award. Subject to vesting, each RSU provides the participant with the right to receive one share in RTX A/S of nominally DKK 5.

Participants and Purpose The Executive Board, Group Executive Management and other specified senior management and specialist positions in the Group. In total, the program for 2022/23 includes approx. 60 participants. The purpose of the program is to create shared interests between the participants in the program and RTX and its shareholders as well as to create incentives for the retention of the participants at RTX. The targets set in the program are set so as to emphasize incentives related to retention.


Number of Restricted Share Units If all pre-defined targets are met or exceeded, a total number of 50,877 shares will be granted with a total present value / fair value of DKK 7.0 million as calculated based on an adjusted Black-Scholes model reflecting the specific terms and conditions of the program and the share price at the time of RTX’s Annual General Meeting on 26 January 2023.


The actual number of RSUs distributed may range from 0 to 100 percent of the total number above and is determined by RTX’s performance in the financial years 2022/23, 2023/24 and 2024/25 being above a certain minimum threshold and by the continued employment of the participants.


Timing The RSUs will at the earliest vest and be granted as shares after the Annual General Meeting in January 2026.


Targets/Performance Indicators The vesting of RSUs depends on the fulfillment of a defined minimum target for EBITDA in the three-year period from the award (financial years 2022/23, 2023/24 and 2024/25) and it is further dependent on the conduct of RTX’s business in compliance with the principles of the UN Global Compact as adopted by RTX.




The RSUs are governed by the specific terms and conditions of the program in accordance with the remuneration policy of RTX and subject to mandatory law. If a participant chooses to leave RTX before the time of vesting, the participant’s right to receive the shares will generally lapse. No payments for the granted shares are made by the participants.


Adjustments to the Program The number of shares available for grant may be adjusted in the event of relevant changes in the capital structure of RTX. Further the program is subject to a usual clawback provision.


The total number of RSUs granted is covered by the Company’s current holding of treasury shares.

Questions and further information:

CEO Peter Røpke, tel: +45 96 32 23 00

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