Saab 2012 Annual Report Download - page 108

Parent Company’s pension obligations
Funds allocated for pensions according to the balance sheet correspond to
the net present value of existing pension obligations less funds that are
secured by Saab’s pension fund.
MSEK 31-12-2012 31-12-2011
ITP and the book reserve method 197 309
Other pensions 50 88
Other provisions for pensions 87 72
Total 334 469
Of which credit guarantees in PRI Pensionsgaranti 268 389
MSEK 2012 2011
Amount of provision expected to be settled after more
than 12 months 182 333
Share Matching Plan In April , Saab’s Annual General Meeting resolved
to oer employees the opportunity to participate in a Global Share Matching
Plan. e Board considers it important that Saab’s employees share a long-
term interest in the appreciation of the company’s shares. Employees who
participate in the plan can have up to  per cent of their gross base salary
withheld to purchase shares on the   Stockholm during a twelve-
month period. If the employee retains the purchased shares for three years
aer the investment date and is still employed by the Saab Group, the
employee will be allotted a corresponding number of Series  shares.
In April , Saab’s Annual General Meeting resolved to introduce a
Performance-Based Plan for senior executives and key employees entitling
them to – matching shares depending on the category the employee
belongs to. In addition to the requirement that the employee remain
employed by Saab aer three years, there is a requirement that earnings per
share grow in the range of  to  per cent on average per year during the
three-year period. e Annual General Meeting  amended the terms of
the Performance Share Plan , compared to previous years’ programmes,
so that those who are eligible may also participate in Saab’s Share Matching
Plan  and so that the Performance Share Plan  entitles participants to
- matching shares, depending on the category to which the employee
belongs.
2008 Share Matching Plan
In April , Saab’s Annual General Meeting resolved to oer employees a
new Share Matching Plan with terms comparable to the  plan. In ,
employees purchased , Series  shares, corresponding to the maxi-
mum number of matching shares. e number of participants from the out-
set was ,. Matching took place on four occasions during . A total of
, shares were matched under the programme, corresponding to  per
cent of the purchased shares.
2009 Share Matching Plan
In April , Saab’s Annual General Meeting resolved to oer a third Share
Matching Plan with terms comparable to the previous years’ plans. In ,
participants purchased , Series  shares, corresponding to the total
number of matching shares. e number of participants from the outset was
,. Matching will take place on three occasions during  and one occa-
sion in January .
2010 Share Matching Plan
In April , Saab’s Annual General Meeting resolved to oer a fourth Share
Matching Plan with terms comparable to the previous years’ plans. In ,
participants purchased , Series  shares, corresponding to the total
number of matching shares. e number of participants from the outset
was,.
2011 Share Matching Plan
In April , Saab’s Annual General Meeting resolved to oer a h Share
Matching Plan with terms comparable to the previous years’ plans. In ,
participants purchased , Series  shares, corresponding to the total
number of matching shares. e number of participants from the outset
was,.
2008 Performance Share Plan
Approximately  senior executives and key employees were invited to par-
ticipate in the rst Performance Share Plan. e number of participants from
the outset was . Participants in the plan purchased , shares. It was
determined aer the close of the measurement period,  September ,
that the growth requirement earnings per share of  to  per cent on average
per year during the three year period had not been reached; accordingly, no
matching has been issued in .
2009 Performance Share Plan
In the second Performance Share Plan, the  participating employees pur-
chased , shares in . It was determined aer the close of the meas-
urement period,  December , that the growth requirement earnings per
share of  to  per cent on average per year during the three-year period had
been reached and totalled about  per cent. e participants will thus receive
a maximum matching award. Matching will take place on three occasions
during  and on occasion in January .
2010 Performance Share Plan
In the third Performance Share Plan, the participating employees pur-
chased , shares in .
2011 Performance Share Plan
In the fourth Performance Share Plan, the  articipating employees pur-
chased , shares in .
2012 Share Matching Plan and Performance Share Plan
In April , Saab’s Annual General Meeting resolved to oer employees a
new Share Matching Plan and a new Performance Share Plan. e Share
Matching Plan for  covers all employees. e Performance Share Plan
which covers senior executives and key employees, entitles participants to -
matching shares, depending on the category to which the employee belongs.
e plans start in January  and continue through calendar year . e
maximum number of matching shares in these two plans is ,,.
Share Matching Plan
2008
plan
2009
plan
2010
plan
2011
plan Total
Number of matching shares
at beginning of the year 588,796 431,696 299,272 - 1,319,764
Allotted during the year
(treasury shares) - - - 413,863 413,863
Early matching -8,080 -8,009 -6,069 -1,287 -23,445
Ordinary matching -575,426 - - - -575,426
Forfeited matching shares -5,290 -6,665 -3,946 -3,594 -19,495
Number of matching shares
eligible at year-end - 417,022 289,257 408,982 1,115,261
Number of participants,
31 Dec. 2012 - 2,558 2,181 2,765
% of total number of
employees - 18 16 20
Average remaining maturity,
years - 0.7 1.7 2.7
Performance Share Plan
2009
plan
2010
plan
2011
plan Total
Number of matching shares at
beginning of the year 55,269 46,650 - 101,919
Allotted during the year (treasury shares) - - 82,007 82,007
Forfeited matching shares -2,829 -1,631 -10,383 -14,843
Number of matching shares
eligible at year-end 52,440 45,019 71,624 169,083
Number of participants, 31 Dec. 2012 119 107 175
Average remaining maturity, years 0.7 1.7 2.7
NOTE 37, CONT.
FINANCIAL INFORMATION > NOTES
104 SAAB ANNUAL REPORT 2012