FPC to implement long-term incentive program, issue Q1 2017 report

April 24, 2017 - 

Fingerprint Cards (FPC) recently held an annual general meeting at which the company’s senior management team followed through on a proposal to maintain previous levels of pay for board members, instead of raising their fees as previously planned.

The decision was made based on FPC’s previously forecasted decline in revenues for the first half of 2017.

FPC also decided at the meeting to implement a long-term incentive program in which 25 employees of the company will have the opportunity to earn free Class B shares.

The move mirrors the recently proposed employee incentive program from Precise Biometrics.

In addition, the meeting found that the company’s board members and CEO Christian Fredrikson were not personally liable for the 2016 fiscal year.

Finally, the board once again elected KPMG as its auditing firm until the company’s next annual general meeting in 2018.

In a separate announcement, FPC said that Fredrikson and CFO Johan Wilsby will present its interim report for the first quarter 2017 in a webcast and telephone conference on May 4.

The actual report will be available on the company’s website.

Previously reported, Fingerprint Cards (FPC) released its annual report for 2016, which saw its best year ever with SEK 6638.3 (US$743 million) in revenues, amounting to a 129 percent increase over its revenues of SEK 2.901 billion (US$356.6 million) in 2015.

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About Justin Lee

Justin Lee has been a contributor with Biometric Update since 2014. Previously, he was a staff writer for web hosting magazine and website, theWHIR. For more than a decade, Justin has written for various publications on issues relating to technology, arts and culture, and entertainment. Follow him on Twitter @BiometricJustin.