Rasmus Berglund
Rasmus is a partner in the Macfarlanes Reward practice. With more than 17 years’ experience, he specialises in all aspects of UK and international employee and executive incentive arrangements.
Rasmus’s practice includes the design, implementation and operation of a wide range of employee share plans and executive remuneration arrangements as well as the treatment and negotiation of incentives in the context of corporate transactions.
He advises on all share plan-related matters including individual and corporate tax and structuring, global regulatory compliance, trust and nominee arrangements, plan administration, data protection and employment issues. Rasmus has a particular focus on corporate governance and remuneration disclosure for listed companies and, having spent time on secondment with one the largest UK banks, also advises on UK and European remuneration regulation within the financial services sector.
Rasmus is a member of the Share Plan Lawyers Group and on the Steering Committee of the Employee Share Ownership Plan (ESOP) Centre. He is also qualified as a US Certified Equity Professional (CEP).
Practice Area
Panel
- Contributing Author
1 Contributions by Rasmus Berglund
PRACTICE NOTES
Malus and Clawback in UK Executive Remuneration: Regulatory Context, Triggers, Periods, Enforcement, Drafting and Tax
The use of malus and clawback
The concept that performance-based cash or share awards for executives and senior employees can be reduced (malus) or recovered (clawback) when a material adverse event occurs or later comes to light is now widely accepted and embedded in market practice. Although rooted in the financial services industry, malus and clawback are now standard elements of incentive plans operated by companies listed in the equity shares (commercial companies) category in the UK. This development flows directly from the Financial Reporting Council’s (FRC) 2014 revisions to the UK Corporate Governance Code in response to the global financial crisis, together with the subsequent expectations of the UK’s major institutional shareholders. The Department for Business, Energy & Industrial Strategy’s (BEIS) March 2021 consultation on modernising the UK’s audit and corporate governance regime further reinforces that deploying malus and clawback within executive remuneration is a vital mechanism for advancing a company’s overall corporate governance objectives...
Share Incentives
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