The Annual General Meeting decides annually on the fees to be paid to the members of the Board of Directors for one term of office at a time. 
As confirmed at Outokumpu’s Annual General Meeting 2019, the annual remuneration for the members of the Board are the following:

BOARD REMUNERATION

 

Position

Annual remuneration, euros

Meeting fee, EUR/meeting

Chairman of the Board

160,000

600

Vice Chairman of the Board

90,000

600

Board members

70,000

600


The Annual General Meeting 2019 decided that 40% of the annual remuneration will be paid in the Company’s own shares using treasury shares or shares to be purchased from the market at a price formed in public trading and in accordance with the applicable insider regulations.

The annual fee is paid once a year, and members of the Board are not entitled to any other share-based rewards. In addition to their annual remuneration, all the members of the Board of Directors are paid a meeting fee of EUR 600 per meeting for each member of the Board of Directors and EUR 1,200 per meeting when travelling to a meeting held outside the Board member’s country of residence.

Information on fees paid to the Board of Directors in 2019 can be found in the remuneration statement.

REMUNERATION PAID IN 2019

Meeting remuneration

Annual remuneration

Total remuneration

Chairman of the Board, Kari Jordan

12,600

160,000

172,600

Vice Chairman of the Board, Heikki Malinen

12,600

90,000

102,600

Vice Chairman of the Board, Olli Vaartimo

3,000

0

3,000

Board member, Kati ter Horst

10,200

70,000

80,200

Board member, Eeva Sipilä

9,000

90,000

99,000

Board member, Vesa-Pekka Takala

7,200

70,000

77,200

Board member, Pierre Vareille

20,400

70,000

90,400

Board member, Julia Woodhouse

10,800

70,000

80,800

Following the MAR regulation Outokumpu publishes the managers' transactions with Outokumpu's financial instruments as stock exchange releases.

Board member

Number of shares

Kari Jordan

102,474

Heikki Malinen

45,459

Kati ter Horst

23,375

Eeva Sipilä

24,823

Vesa-Pekka Takala

9,225

Pierre Vareille

34,206

Julia Woodhouse

9,225

Total

248,787

Please note that the table includes the shares owned by current members of the Board.