Company: PLSAY
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001884082-25-000012
Chunk: 183

Company: Polestar Automotive Holding UK PLC
Filing Date: 2025-05-09
Form: 20-F
Item: Item 6
Chunk 183
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 the year ended December 31, 2024 was approximately SEK 36,839,000 SEK (or TUSD 3,362). The compensation paid to Polestar’s executive officers in fiscal year 2024 consisted of base salary, short-term variable pay, equity awards and the value of pension benefits and other employee benefits.

Incentive Programs

Polestar Bonus Program

All employees of Polestar, including each of the Company’s executive officers, participate in the Polestar Bonus Program, a short-term cash incentive program, for which key performance indicators (“ KPIs”) and the pay-outs are approved by the Board annually. Under the Polestar Bonus Program, employees are eligible to receive an annual cash bonus based on generally applicable and market-specific KPIs. At the end of the applicable performance period, the Board determines the achievement of the relevant performance metrics.

For fiscal year 2024, the Polestar Bonus Program was based on the following four KPIs: (i) net income (30%); (ii) cash flow (30%); (iii) cost management (30%) and (iv) customer experience (10%). After the conclusion of the fiscal year 2024 performance period on December 31, 2024, the Board determined that, due to the company's financial situation, there would be no bonus payout this year, despite meeting some of the targets.

  Performance Targets                                                                                                                       
  Metric                   Weighting      Threshold      On target      Maximum      Actual      % Vesting      % Of max bonus opportunity  
  Net income                     30%            75%           100%         200%      —%          —%             —%                          
  Cash flow                      30%            75%           100%         200%      —%          —%             —%                          
  Cost management                30%            75%           100%         200%      200%        60%            —%                          
  Customer experience            10%            75%           100%         200%      90%         9%             —%                          
  Total                                                                                          69%            34.5%                       

                           Financial measures                   Non-financial measures               Total vesting percentage      Vesting amount as % of salary      Bonus amount (SEK)  
  Thomas Ingenlath         60%                                  9%                                   —%                            —%                                 —%                  
  Michael Lohscheller      60