VEON Management ownership increases
VEON announces the completion of additional share transfers to its Executive Committee members under the Deferred Share Plan established in February 2022. The latest transfers include 145,715 shares to Michael Schulz, 92,572 shares to Joop Brakenhoff, and 64,286 shares to Alex Bolis. This program aims to align management ownership with the company’s performance, requiring GEC members to maintain a minimum shareholding equivalent to 6.0x the Group CEO’s salary and 2.0x for other members. These incentives encourage long-term commitment to VEON’s growth.
- Management ownership incentives may align interests with shareholders.
- Completion of share transfers reinforces management's commitment to the company.
- None.
VEON Management ownership increases
Amsterdam, 18 July 2022 – VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and services, announces the completion of further management share transfers as part of the Group’s incentive program announced in February 2022.
Further to our press release on 28 February 2022, today we can confirm the completion of share transfers to three additional Group Executive Committee (“GEC”) members. The shares were awarded as part of VEON’s Deferred Share Plan. This award follows the completion of share transfers to the Group CEO and Group CFO announced on 11 July 2022.
| DEFERRED SHARE PLAN | |
| Shares | |
| Michael Schulz | 145,715 |
| Joop Brakenhoff | 92,572 |
| Alex Bolis | 64,286 |
As previously communicated, GEC members will over time accrue and then maintain a minimum level of VEON shares. This will be equivalent to 6.0x the annual base salary for the Group CEO and 2.0x annual base salary for other GEC members. Following this transaction, the total number of ADR/ORDs held by Michael Schulz is 145,715, by Joop Brakenhoff is 92,572 and by Alex Bolis is 64,286.
Disclaimer
This press release contains “forward-looking statements”, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding management plans and the ability to successfully execute operating model, governance, strategic and development plans. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services. For more information visit: www.veon.com
Contact Information
VEON
Investor Relations
Nik Kershaw
ir@veon.com
FAQ
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