The Board of Directors of Nurminen Logistics Plc resolved on incentive plan for key employees
Nurminen Logistics Plc Stock Exchange Release 23 March 2018 at 2.00 p.m.
The Board of Directors of Nurminen Logistics Plc has approved a new share-based incentive plan for the Group key employees. The aim of the new plan is to align the objectives of the shareholders and the key employees in order to increase the value of the Company in the long-term, to retain the key employees at the Company, and to offer them a competitive reward plan that is based on earning and accumulating the Company’s shares. The new Performance Share Plan 2018–2021 includes two two-year performance periods, fiscal years 2018–2019 and 2020–2021.
The potential reward from the performance period 2018–2019 will be based on the Total Shareholder Return of Nurminen Logistics share (TSR).
The Performance Share Plan is directed to approximately five people, the President and CEO and other members of the Management Team, as well as selected key employees during the performance period 2018–2019. The rewards to be paid on the basis of the performance period 2018–2019 correspond to the value of an approximate maximum total of 1,250,000 Nurminen Logistics Plc shares, including also the proportion to be paid in cash.
The potential rewards from the performance period 2018–2019 will be paid partly in the Company’s shares and partly in cash in 2020. The cash proportion is intended to cover taxes and tax-related costs arising from the reward to the participant. As a rule, no reward will be paid, if a participant´s employment or service ends before the reward payment. A plan participant must hold all of the net shares given on the basis of the plan for twenty-four (24) months after the reward payment.
The Board of Directors will be entitled to reduce the rewards agreed in the Performance Share Plan if the limits set by the Board of Directors for the share price are reached.
Nurminen Logistics Plc
Board of Directors
For more information, please contact: Olli Pohjanvirta, Chairman of the Board
Tel. +358 40 900 6977
Nurminen Logistics is a listed company established in 1886 that offers logistics services. The company provides high-quality forwarding, cargo handling and value added services as well as railway transports and related to it project transport services to its customers. The main market areas of Nurminen Logistics are Finland, Russia and its neighbouring countries.