Outokumpu - Next plan period 2022-2024 for share-based programs and a payment of the 2021 share rewards
Outokumpu has announced the initiation of its share-based programs for the period 2022–2024, including the Performance Share Plan and the Restricted Share Pool. The plans, commencing in early 2022, allow for a maximum of 150 participants with a total allocation of 3,700,000 shares. Additionally, 10,950 shares from the 2019–2021 Restricted Share Pool will be awarded to Pia Aaltonen-Forsell in December 2021, ahead of the scheduled delivery in spring 2022. More details on the programs are available on Outokumpu's investor relations website.
- Commencement of the share-based programs for 2022–2024, potentially incentivizing key employees.
- A maximum allocation of 3,700,000 shares under the Performance Share Plan to enhance performance alignment.
- The share reward distribution is contingent on meeting employment conditions and performance criteria, adding uncertainty.
HELSINKI, Dec. 17, 2021 /PRNewswire/ -- 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 2022–2024 for the company's share-based programs. Furthermore, the Board approved the deliveries of a share reward from the Restricted Share Pool 2019–2021.
Plan periods for share-based programs 2022–2024
The Board of Directors has approved the commencement of Outokumpu's share-based programs for the period 2022–2024, the Performance Share Plan and the Restricted Share Pool. The plans commence at the beginning of 2022.
The earning criteria of the Performance Share Plan for this period are Outokumpu's return on capital employed. The maximum number of participants in the plan period 2022–2024 is 150 key employees. The maximum number of gross shares (taxes included) that can be allocated is 3,700,000.
The Restricted Share Pool is used for a limited number of employees, i.a., in cases of 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 500,000 for the plan period 2022–2024.
The share rewards will be distributed in the spring of 2025, 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.
A share reward in the Restricted Share Pool 2019–2021
The Board of Directors has approved the delivery of a share reward in advance from the Restricted Share Pool 2019–2021. When Pia Aaltonen-Forsell was employed in December 2018, it was agreed that she would be paid her share reward from the Restricted Share Pool 2019–2021 already in December 2021 instead of the spring 2022. After deduction for applicable taxes, the total net number of shares delivered will be 10,950 by the end of December 2021. Decisions regarding the other share rewards from the plans ending in 2021 will be made in due course and distributed in spring 2022.
More information on share-based programs and their terms is available at www.outokumpu.com/en/investors/governance/remuneration/share-based-incentive-programs.
Outokumpu Oyj
Stock exchange release
December 17, 2021 at 4.15 pm EET
For more information:
Investors: Linda Häkkilä, Head of Investor Relations, tel. +358 40 071 9669
Media: Päivi Allenius, VP – Communications, tel. +358 40 753 7374
Outokumpu Oyj
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SOURCE Outokumpu Oyj
FAQ
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