Leonardo announces Shareholders Meeting and new long-term incentive plan proposal

Friday, April 5, 2024

During the Extraordinary session, the Shareholders’ Meeting will address proposals for amending Leonardo‘s Articles of Association, aimed at updating and simplifying certain statutory clauses. In the Ordinary session, alongside approving the Financial Statements as of December 31, 2023, the Shareholders’ Meeting will vote on the appointment of the Board of Statutory Auditors for the 2024-2026 term. Additionally, pursuant to art. 123-ter, para. 3-ter and 6 of TUF, the Ordinary Shareholders’ Meeting will vote on the Report on remuneration policy and fees paid, with binding and non-binding resolutions respectively, as approved by the Board of Directors today.

The Board of Directors also decided to present the proposal for the approval of the new Long-Term Incentive Plan for the management of the Leonardo Group to the Shareholders’ Meeting, in accordance with art. 114-bis of TUF. The new Incentive Plan maintains the core elements while introducing changes to enhance the pay for performance link. It includes three-year rolling cycles, starting from 2024, 2025, and 2026 financial years, and introduces an over-performance mechanism. The Plan, based on a mix of cash and Leonardo ordinary shares, aims to achieve medium and long-term objectives outlined in the Group’s Industrial Plan. Performance targets will be assessed at the end of each three-year period.

For a comprehensive overview of the Plan, please refer to the Information Document prepared in compliance with art. 114-bis of TUF and art. 84-bis of Issuers Regulation, which will be published within the legal timeframe.

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