Torm PLC
At the general meeting 15.04.2026 Folketrygdfondet voted against the following items for the following reasons:
Item 2.00 Remuneration Report
Folketrygdfondet’s decision to vote against the executive Remuneration Report is based on a cumulative assessment. Folketrygdfondet’s expectations related to board and executive remuneration is that the total amount of remuneration should not entail an unreasonable transfer of value from shareholders to executives. In this case, we note that the potential for the level of CEO compensation is excessive due to lack of disclosed caps on incentive plan payouts. For this reason, we voted against this item.
Item 3.00 Remuneration Policy
Folketrygdfondet’s decision to vote against the executive Remuneration Policy is based on a cumulative assessment. Folketrygdfondet’s expectations related to board and executive remuneration is that the total amount of remuneration should not entail an unreasonable transfer of value from shareholders to executives. In this case, we note that the potential for the level of CEO compensation is excessive due to lack of disclosed caps on incentive plan payouts. For this reason, we voted against this item.
Item 10.00 Elect Jakob Meldgaard
Folketrygdfondet opposes the election of the CEO to the board of directors as a matter of principle. One of the board’s main tasks is the supervision of company management, which includes appointment and dismissal of the CEO. Folketrygdfondet considers that board members can only supervise company management adequately if they are not recruited from among management. For this reason, we voted against this item.