Raisio launches an incentive plan for its key employees that aims to increase share ownership
Raisio launches an incentive plan for its key employees that aims to increase
Raisio plc Stock Exchange Release 12 February 2013
RAISIO LAUNCHES AN INCENTIVE PLAN FOR ITS KEY EMPLOYEES THAT AIMS TO INCREASE
The Board of Directors of Raisio plc has approved a new share based incentive
plan for the Group key employees. The aim of the new Plan is to combine the
objectives of the shareholders and the key employees in order to increase the
value of the Company, to commit the key employees to the Company, and to offer
them a competitive reward plan that is based on the increase of shareholder
value and earning of Raisio shares.
The performance period of the new plan began on January 1, 2013 and will end on
December 31, 2015. The Board of Directors of the Company will annually decide
on the potential launch of a new performance period, the length of such a
performance period and on the performance criteria and their targets for the
performance period. The potential reward for the performance period 2013–2015
is based on the total shareholder return (TSR) of the Raisio free shares
Any rewards for the performance period 2013–2015 will be paid partly as free
shares and partly in cash in 2016. The cash proportion is intended to cover
taxes and tax-related costs arising from the rewards to the key employees. No
reward will principally be paid, if a key employee’s employment or service at
the Company ends before reward payment.
The Board of Directors recommends that the key employees belonging to the
target Group will continue to hold a considerable portion of shares received on
the basis of this Plan until the value of their share ownership corresponds to
six months gross salary.
The Plan is directed to approximately 30 persons. The reward to be paid on the
basis of the performance period 2013–2015 corresponds to a total maximum of
approximately 1,000,000 free shares, including the amount to be paid in cash.
Communications and IR Manager
Tel. +358 50 567 3060
Simo Palokangas, Chairman of the Board
Call requests to Mr. Palokangas will be forwarded by Teija Silomäki, tel. +358
44 782 1272