The Board of Directors of
Share-based long-term incentive plans are part of the reward program of the Company's key personnel. The aim of the incentive scheme is to combine the objectives of the shareholders and the key employees in order to increase the value of the Company in the long-term, to commit the key employees to implement the Company's strategy, and to offer them a competitive reward program based on earning and accumulating the Company's shares.
Performance Share Plan
The Performance Share Plan structure consists of annually commencing individual Performance Share Plans, each with a three-year performance period, followed by the payment of the potential share rewards.
The Board of Directors of the Company shall decide on each new plan, its earning period and other related details separately.
The first individual plan within the new PSP structure, PSP 2024-2026, commences as of the beginning of 2024 and the rewards potentially earned thereunder will be paid in listed shares of
The performance measures based on which the potential share rewards under PSP 2024-2026 will be paid relates to the Company's share value, the Company's profitability and sustainability.
Eligible for participation in PSP 2024-2026 are approximately 80 individuals, including members of
If all the performance targets set for PSP 2024-2026 are fully achieved, the aggregate maximum number of shares to be paid based on this plan is approximately 200,000 shares (referring to gross reward, from which the applicable payroll tax is withheld before share delivery).
Restricted Share Plan
The Restricted Share Plan structure consists of annually commencing individual restricted share plans. Each plan comprises a restriction period with an overall length of three years, extending to the first half of the fourth year of the plan. The granted share rewards are paid to the selected participants in one or several tranches latest by the end of the restriction period. The share rewards are paid in listed shares of
The Board of Directors of the Company shall decide on each new plan, its earning period and other related details separately.
The first individual plan, RSP 2024-2026, commences effective as of the beginning of 2024 and the share rewards payable thereunder are paid in annual tranches during the restriction period.
The aggregate maximum number of shares payable as a reward based on RSP 2024-2026 is approximately 50,000 shares (referring to gross reward, from which the applicable payroll tax is withheld before share delivery).
Other terms
The value of the rewards payable based on the above-described plans is limited by a maximum cap linked to the Company's share price development.
Board of Directors
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