Atlantic Executives Receive €200,000 Bonus in Shares

The management and executives of Atlantic Group received a generous gift before Easter in the form of a bonus in company shares. Atlantic announced that in accordance with the Stock Option Program and compensation policy, for the purpose of rewarding management and employees, it allocated a total of 83,553 shares on Wednesday. Based on the last stock market price of Atlantic shares at €44.20, this package is valued at €3.7 million.

From this allocation, five members of the Management Board received a total of 21,403 shares as a bonus. The largest package of 4,451 shares, valued at €197,000, was awarded to Management Board member Mate Štetić. According to the announcement, Štetić owned 5,872 Atlantic shares before receiving this bonus in shares. The largest shareholder among Atlantic’s Management Board members (excluding CEO Emil Tedeschi) is Neven Vranković, who holds just over 89,000 shares after being allocated 4,414 shares worth €195,000 in this round. Zoran Stanković received a bonus of €189,000, which is the market value of the allocated package of 4,279 shares. After this allocation, Stanković owns just under 34,000 shares.

A nearly identical package of 4,268 shares was received by Srećko Nakić, who now also holds nearly 34,000 shares. The smallest package of 3,991 shares was awarded to Enzo Smrekar, who now owns 15,792 Atlantic shares valued at €700,000. It is worth noting that Atlantic concluded the previous year with sales exceeding €1 billion, for the first time since the company’s inception. Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 12 percent to €97 million, but net profit of €26.5 million was down by 15 percent.

According to the income report for 2023, the highest gross amount of €508,000, which consists of fixed salary, bonuses, and benefits in kind, was paid to Emil Tedeschi. Following him is Mate Štetić with a total of €430,000, who is responsible for the Coffee and Sweet and Savory segments in the company. Srećko Nakić, responsible for distribution, had total earnings of just under €412,000. Neven Vranković, who oversees corporate activities at Atlantic, received a total of €389,000, while Zoran Stanković, head of Atlantic’s finance, procurement, and investments, was paid €376,000.

Enzo Smrekar, responsible for Delicatessen Spreads, Donat, and internationalization, received €354,000, while Lada Tedeschi Fiorio, Vice President for Corporate Strategy and Development, was paid €325,000.