Remuneration of the Board of Directors

The Annual General Meeting decides the remuneration of the Board. As a rule, there has not been a separate remuneration for executive members of the Board of Directors.

Bittium Investors

Remuneration of the Board of Directors

The Annual General Meeting decides the remuneration of the Board. As a rule, there has not been a separate remuneration for executive members of the Board of Directors. In 2024, none of the members of the Board had an employment relationship or service contract with the Company.

The General Meeting held on April 10, 2024 decided that the elected Board members´ remuneration for the term ending at the end of the following Annual General Meeting shall be as follows:

  • Chairman of the Board EUR 3,150 per month and
  • other members of the Board of Directors EUR 1,800 per month.

In addition, the members of the Board of Directors are entitled to compensation for attending Board meetings as follows:

  • Chairman of the Board EUR 875 for each meeting and other members EUR 500 for each meeting.

In addition, the Board members are entitled to compensation for the attended Board Committee meetings as follows:

  • Chairman of the Committee EUR 600 for each meeting and other Committee members EUR 400 for each meeting.

Travel expenses of the members of the Board of Directors shall be reimbursed in accordance with the Company’s travel policy. 50 percent of the total amount of the monthly remuneration of the members of the Board of Directors will be paid at once as Bittium Corporation’s shares acquired for the price formed in public trading, through share issue or, in special circumstances if share based remuneration cannot be paid for some reason, in full in money. The shares will be acquired according to the share purchase program of the company. A member of the Board of Directors may not transfer the shares received as remuneration before his/her membership in the Board of Directors has ended.

The Board members have been paid the following remuneration in the financial year 2024 (EUR) 
NamePositionMonthly fees to Board membersMeeting fees for Board membersMeeting fees for Audit Committee meetingsIn total
Erkki VeikkolainenChairman of the Board37,795, of which 18,895 paid by acquiring 3,131 shares of the Company 14,875 52,670
Riitta TiuraniemiMember of the Board, Chairman of the Audit Committee21,597, of which 10,796 paid by acquiring 1,789 shares of the Company8,500 4,80034,897
Pekka KemppainenMember of the Board21,597, of which 10,796 paid by acquiring 1,789 shares of the Company 8,500 30,097
Veli-Pekka PalorantaMember of the Board,
member of the Audit
Committee
21,597, of which 10,796 paid by acquiring 1,789 shares of the Company 8,0003,20032,797
Petri ToljamoMember of the Board,
member of the Audit
Committee
21,597, of which 10,796 paid by acquiring 1,789 shares of the Company 8,5002,80032,897
Raimo JyväsjärviMember of the Board18,639, of which 10,796 paid by acquiring1,789 shares of the Company5,50024,139

Based on the resolution of the Annual General Meeting, fifty percent of the total monthly fees of the Board of Directors was used to acquire the Company’s shares. The shares were acquired in accordance with the share purchase program prepared by the Company, and the acquisitions were carried out on May 2, 2024 for the price formed in public trading. A member of the Board of Directors may not transfer the shares received as remuneration before his/her membership in the Board of Directors has ended.