Outokumpu – Next plan period 2021–2023 for share-based programs and 2020 share rewards in Matching Share Plan

Outokumpu – Next plan period 2021–2023 for share-based programs and 2020 share rewards in Matching Share Plan

As part of the long-term incentive programs for key employees in Outokumpu, the Board of Directors has approved the commencement of the plan period 2021–2023 for the company’s share-based programs. Furthermore, the Board approved the deliveries of the 2020 share rewards in the Matching Share Plan for Management.

Plan periods for share-based programs 2021–2023

The Board of Directors has now approved the commencement of Outokumpu’s share-based programs for the period 2021–2023, Performance Share Plan and Restricted Share Pool. The plans commence at the beginning of 2021.

The earning criterion of the Performance Share Plan for this period measures Outokumpu's profitability and the efficiency with which its capital is employed. The maximum number of participants in the plan period 2021–2023 is 150 key employees. The maximum number of gross shares (taxes included) that can be allocated is 3,700,000.

Restricted Share Plan is used for a limited number of employees, i.e. key recruitments, exceptional performance, high potential, retention need, and other individual specific situations. The maximum number of gross shares (taxes included) that can be allocated is 250,000 shares for the plan period 2021–2023.

The share rewards will be distributed in spring 2024, if the employment conditions and performance criterion are met. Applicable taxes will be deducted from gross shares, and the remaining net value will be delivered to the participants in Outokumpu shares.

2020 share rewards in Matching Share Plan

The Board of Directors has approved the delivery of the fourth and final reward from the Matching Share Plan for the Management by the end of December 2020. After deduction for applicable taxes, the total net number of shares delivered will be 178,350.

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:

Media: Corporate communications, tel. +358 9 421 3840

Investors: Linda Häkkilä, Investor Relations Manager, tel. +358 40 071 9669

Outokumpu Oyj