STOCKHOLM, SWEDEN -- (Marketwired) -- 04/09/13 -- Telefonaktiebolaget LM Ericsson's AnnualGeneral Meeting ("AGM") was held onApril 9, 2013 in Stockholm.
The proposed dividend of SEK 2.75 per share was approved by the AGM. Therecordday for dividend was set to Friday, April 12, 2013. Payment from EuroclearSweden AB is expected to take place on Wednesday, April 17, 2013.
Adoption of the Profit and Loss Statements and the Balance Sheets
The AGM resolved to adopt the Profit and Loss Statement and the BalanceSheetfor the Parent Company as well as the Consolidated Profit and LossStatement andthe Consolidated Balance Sheet for the Group for 2012. The members of theBoardof Directors and the President were discharged from liability for thefiscalyear 2012.
Board of Directors
In accordance with the proposal of the Nomination Committee, Leif Johanssonwasreelected Chairman of the Board of Directors. Roxanne S. Austin, Sir PeterL.Bonfield, Börje Ekholm, Alexander Izosimov, Ulf J. Johansson, SverkerMartin-Löf, Hans Vestberg and Jacob Wallenberg werere-elected to the Board and NoraDenzel, Kristin Skogen Lund and Pär Östberg were elected newmembers of theBoard of Directors.
Board of Directors' Fees
The AGM resolved, in accordance with the Nomination Committee's proposal,on ayearly fee to the Chairman of the Board of SEK 3,850,000 (previouslySEK 3,750,000), and fees to non-employed members of the Board, elected bytheAGM, of SEK 900,000 each (previously SEK 875,000 each). Fees for Committeeworkto non-employed members of the Committees, elected by the AGM, wereapproved asfollows (unchanged); SEK 350,000 to the Chairman of the Audit Committee andSEK 250,000 to each of the other members of the Audit Committee, SEK200,000 toeach of the Chairmen of the Finance and Remuneration Committee and SEK175,000to each of the other members of the Finance and Remuneration Committee.
The AGM approved the Nomination Committee's proposal to enable payment ofpartof the fees to the members of the Board for the Board assignment, in theform ofsynthetic shares.
The AGM elected PricewaterhouseCoopers AB auditor for the period up untiltheend of the AGM 2014.
Guidelines for Remuneration to Group Management
In accordance with the Board of Directors' proposal, the AGM resolved toapprovethe Guidelines for remuneration to Group Management.
Long-Term Variable Remuneration Program (LTV)
In accordance with the Board of Directors' proposals, the AGM resolved asfollows:
LTV 2013 and transfer of treasury stock
* Implementation of LTV 2013, with the same structure as previousprograms. The program comprises in total up to 32.2 million B shares and includesthe Stock Purchase Plan for all employees, the Key Contributor RetentionPlan and the Executive Performance Stock Plan. All plans are based on the employees' own investment in Ericsson shares. If the shares areretained for a period of three years and the employment remains, the participantsobtain matching shares from the company. The following performance criteriawere resolved for the Executive Performance Stock Plan 2013; net salescompound annual growth rate between 2 and 8 percent (2012-2015), operatingincome compound annual growth rate between 5 and 15 percent (2012- 2015), andcash conversion at or above 70 percent annually (2013, 2014 and 2015).
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