Shareholders Payout

The administrators’ payouts are aligned with the company’s short, medium, and long-term interests. The fixed portion of their payments reflects average market prices, whereas the variable portion is associated with short-term (12-month periods) and long-term (over one year) results, the latter of which is intended solely to statutory directors.

There are payment criteria for each plan, as follows:

Fixed payment
  • Job performed
  • Performance assessment
  • Market benchmarking
Short-term incentives (STI)
  • Targets hit
Long-Term Incentives (LTI)
Performance Shares
  • Performance targets hit
  • Common share subscription, provided the company made a profit
  • 5-year grace period
  • Continuance in the company
  • Keep the investment for at least 4 years
  • Keep 50% of the original shares
  • Beneficiary continues to work in the company

Advisors and their legal dependents are eligible for health insurance, a complementary pension scheme, and group life insurance

Fixed payment

The fixed portion of our executives’ payments is defined and adjusted in accordance with the professional’s merit in the performance of their duties, based on a performance assessment for that period. It can also be in step with the market, in case our annual research identifies any imbalances. These changes must be put forward by our People, Governance, and Appointments Committee and approved by our Managing Board.

The performance assessment takes into account financial results, EBIT, free cash flow, individual targets, specific projects, and the area.

Short-term incentives (STI)

The variable portion of the remuneration is fully linked to meeting the goals defined for the year. They vary according to the degree of achievement or overcoming of goals and affect all executives in the organization.

Our main performance indicators are linked to our financial results. The company also establishes specific projects and goals for each business area and a set of individual goals for each administrator, in the concept of goals contract. In line with our ESG strategy, targets linked to variable compensation are also linked to environmental and social issues and to levels of governance, which vary according to the area. Such targets represent 10% of the variable remuneration.

Long-Term Incentives (LTI)

Long-term Incentive (LTI) plans contribute to these goal aligning the interests of Dexco’s directors and shareholders.

The LTI may correspond to 25% of total earnings.

Plans include Performance Shares and Matching incentives. They ensure our directors can subscribe to Dexco’s common stocks within authorized capital limits. However, stock options are only granted in relation to periods sufficient profits were made to allow shareholders to be paid mandatory dividends.

Performance Shares

Our executives (CEO, VPs, and statutory directors) are granted shares issued by Dexco provided they meet their performance targets. This payment is released based on Dexco’s five-year strategic plan.

The performance target is set annually by our People, Governance, and Appointments Committee and approved by our Managing Board. Share transfers are subject to a five-year grace period and the participant’s continuity at Dexco.

The number of shares will be calculated using the average trading price as a baseline. In case of dismissal without cause or no job reinstatement, from the 37th month onwards, the participant will receive, after a five-year period, an amount of shares that corresponds to time worked. However, if the participant quits Dexco, they will lose their stock options, regardless of time elapsed.


We invite the beneficiary to purchase the company’s shares, investing a percentage of their net Short-Term Incentive earnings. Share matching will occur as follows:

Capital Dilution
LTI granted in the latest programs vs Capital Dilution
Current Plan Amount Granted per Year 2018 2019 2020 2021
Stock Options 781.831 0,11%
Stock Options 1.619.703 0,23%
Perf Shares + Matching 815.947 0,12%
Perf Shares + Matching 560.000 0,08%