9. Outlook for 2021
The Board has introduced a clawback clause into the LTIP which entitles the Board of Directors to determine that PSUs forfeit in full or in part or that vested awards will be recovered in full or in part in the event of financial misstatement or misconduct, following review of the specific facts and circumstances. The clawback clause is in line with the performance-related principles of the LTIP and protects the interests of shareholders and other relevant stakeholders.
Sustainability is ingrained in SIG’s business strategy and activities, and this has strengthened the way we source, produce and sell. As a logical step, the Board of Directors decided to include in the 2021 STIP Group targets an additional ESG-related measure. This is in line with SIG’s long-term commitment to contribute more to society and the environment than is taken out and this adjustment of the global STI framework is an important milestone on that journey.