Rautaruukki Oyj : Payment of Rautaruukki Oyj treasury shares based on the share-based incentive plan 2011-2013
04/24/2012| 03:31am US/Eastern
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On 23 April 2012, Rautaruukki's Board of Directors
confirmed the bonus for 2011 for the first earning period in
the share-based incentive scheme 2011-2013 as 11.5 per cent of
the maximum bonus payable. Of the total bonus, 50 per cent will
be paid in the form of shares and the remainder in cash for the
payment of taxes and fiscal charges. The Board of Directors has
resolved to transfer, without consideration, to the bonus
recipients 30,984 of the treasury shares held by the company as
the share element of the bonus.
During the 2011 earning period, there were 89 executives or
other key employees who will receive the bonus. The shares
will be transferred on 24 April 2012.
In December 2010, Rautaruukki's Board of Directors
decided on a share-based incentive plan as part of a
commitment and incentive programme for key personnel. The
plan includes three earning periods, which are the calendar
years 2011, 2012 and 2013. Furthermore, the plan includes one
three-year earning period, 2011-2013. Payment of a bonus is
contingent on achieving the financial targets set.
Any shares received on the basis of the share-based incentive
plan must be held for a lock up period of at least three
years after the end of the earning period. However, members
of the Corporate Executive Board must hold shares also after
the lock-up period such that the total value of his or her
shareholding corresponds to the value of his or her gross
annual salary. Such number of shares must be held for as long
as his or her employment or service in a group company
continues.
Rautaruukki has had share ownership plans for management and
key employees as long-term performance incentive plans since
2000.
For further information, please contact:
Eija Hakakari, SVP, Human Resources, tel. +358 20 592 9267
Rautaruukki Corporation
Taina Kyllönen
SVP, Marketing and Communications
DISTRIBUTION:
NASDAQ OMX Helsinki
Main media
www.ruukki.com
Ruukki provides its customers with energy-efficient steel
solutions for better living, working and moving. Ruukki
operates in some 30 countries and employs around 11,800
people. Net sales in 2011 totalled EUR 2.8 billion. The
company's share is quoted on NASDAQ OMX Helsinki
(Rautaruukki Oyj: RTRKS).
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