Stock exchange release
December 19, 2017 at 12.30 pm EET
As part of the long-term incentive programs for key employees in Outokumpu, the Board of Directors has approved the commencement of the sixth plan period 2018–2020 for the company’s share-based programs. Furthermore, the Board approved the deliveries of the 2017 share rewards in the Matching Share Plans for Management and CEO.
Plan periods for share-based programs 2018–2020
The Board of Directors has now approved the commencement of the sixth plan periods 2018–2020 of Outokumpu’s share-based programs, Performance Share Plan and Restricted Share Pool. These plan periods commence at the beginning of 2018, and the share rewards will be distributed in spring 2021.
For Performance Share Plan, the earning criterion for this period measures Outokumpu's profitability and the efficiency with which its capital is employed compared to a peer group. The maximum number of participants in the plan period 2018–2020 is 150 key employees. The maximum number of gross shares (taxes included) that can be allocated is 2,900,000. The share rewards will be distributed in spring 2021 if the performance criterion is met.
In the Restricted Share Pool, restricted share grants are approved annually by the CEO, or, in case of the Leadership Team members, by the Board. The maximum number of shares that may be allocated within the sixth plan period 2018–2020 is 150,000 gross shares.
Applicable taxes will be deducted from gross shares, and the remaining net value will be delivered to the participants in Outokumpu shares.
2017 share rewards in Matching Share Plans
The Board of Directors has approved the delivery of the first reward tranche from the Matching Share Plan for Management and the second reward share tranche to the CEO by the end of December 2017. After deduction for applicable taxes, the total net number of shares delivered will be 473,649, of which 185,077 will be delivered to the CEO.
Outokumpu will use its treasury shares for the reward payments, so the total number of shares of the company will not change. More information on share-based programs and their terms is available at www.outokumpu.com/en/investors/governance/remuneration/Share-based-incentive-programs.
For more information:
Investors: Tommi Järvenpää, tel. +358 9 421 3466, mobile +358 40 576 0288
Media: Reeta Kaukiainen, tel. +358 50 522 0924
Outokumpu is the global leader in stainless steel. We aim to be the best value creator in stainless by 2020, through our competitive edge of customer orientation and efficiency. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com outokumpu.com/stainless-news choosestainless.outokumpu.com