YIT’s share-based long-term incentive scheme gets continuation
YIT Corporation Stock Exchange Release March 16, 2017 at 3:10 p.m.
The Board of Directors of YIT Corporation decided on March 26, 2017, to launch a new share-based incentive scheme for key persons, comprising three earnings periods.
The earnings periods of the incentive scheme are the years 2017, 2018 and 2019. Any bonus will be determined on the basis of the indicators decided annually by the Board of Directors of YIT Corporation for each earnings period and their target levels. Return on investment is the key indicator in the scheme. Besides this, a target related to the Group’s Net Promoter Score (NPS) has been set for 2017. The Board of Directors of YIT Corporation also decides on the approximately 250 key persons from different YIT countries to be included in the incentive scheme for each earnings period. The same key employees are not automatically covered by the scheme during all earnings periods.
A maximum of approximately 700,000 shares can be distributed each year, of which a maximum of 30,000 to the President and CEO of the company. The shares to be granted are already held by YIT as a rule. There is a two-year “commitment period” associated with each earnings period, after which the shares are transferred to key persons still employed by the company. Shares will be handed over in 2020, 2021 and 2022. The employer will cover the taxes and tax-like fees charged to the key employees covered by the scheme in connection with handover of the shares. Under all circumstances, the Board has the right to amend the bonuses in a reasonable manner.
“We want to inspire and commit our personnel to create an excellent customer experience and increase the company’s value. According to our strategy we aim at this by constructing more lively urban environments than before. This demands broad-based expertise, co-operation and customer orientation from us. I believe that the new incentive scheme as a component of overall remuneration supports and motivates us in our meaningful work to achieve shared targets with our owners”, says Pii Raulo, Senior Vice President, Human Resources at YIT.
For further information, please contact:
Pii Raulo, Senior Vice President, Human Resources, YIT Corporation, tel. +358 40 572 3568, firstname.lastname@example.org
Hanna Jaakkola, Vice President, Investor Relations, YIT Corporation, tel. +358 40 5666 070, email@example.com
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, major media, www.yitgroup.com
YIT creates better living environment by developing and constructing housing, business premises, infrastructure and entire areas. Our vision is to bring more life in sustainable cities. We want to focus on caring for customer, visionary urban development, passionate execution and inspiring leadership. Our growth engine is urban development involving partners. Our operating area covers Finland, Russia, the Baltic countries, the Czech Republic, Slovakia and Poland. In 2016, our revenue amounted to nearly EUR 1.8 billion, and we employ about 5,300 employees. Our share is listed on Nasdaq Helsinki. www.yitgroup.com