Munksjö Oyj to establish a long-term share-based incentive programme for senior executives and other key personnel
MUNKSJÖ OYJ, STOCK EXCHANGE RELEASE 28 May 2014 at 1.30 pm CEST
Munksjö Oyj to establish a long-term share-based incentive programme for senior executives and other key personnel
Munksjö’s Board of Directors has approved a long-term share-based incentive programme for Munksjö’s senior executives and other key personnel, approximately 35 persons. The objective of this plan is to align the company’s financial goals with the objectives of its shareholders and management by an incentive plan based on share ownership in the company.
The share plan starts in 2014 with a three-year (2014-2016) performance period and potential rewards will be paid after the end of the performance period. Participation requires an initial investment (saving shares) in Munksjö shares by each participant. A maximum number of saving shares is set for each participant. The plan offers a right for a participant to receive one matching share for each saving share and an opportunity to receive a maximum of five performance shares if the performance targets set by the Board are attained. The targets are based on the Group’s dividend capacity and share price development compared to a peer group of similar listed companies.
The potential incentives will be paid in Munksjö shares. The program has a cap maximising the gross reward to an amount corresponding to 300 per cent of the participant’s annual base salary. If the targets set for the program are met in full and the maximum number of saving shares are invested, the maximum gross value of the program will correspond to approximately 500,000 shares.
Munksjö Oyj
For further information, please contact:
Åsa Fredriksson, SVP HR and Communications, tel. +46 10 250 1003
Laura Lindholm, Investor Relations Manager, tel. +46 10 250 1026
Munksjö – Materials for innovative product design
The Munksjö Group is an international specialty paper company with a unique product offering for a large number of industrial applications and consumer-driven products. Founded in 1862, Munksjö is among the leading producers in the world of high-value added papers within attractive market segments such as Decor paper, Release Liners, Electrotechnical paper, Abrasive backings and Interleaving paper for steel. Given Munksjö’s global presence and way of integrating with its customers’ operations, the company forms a global service organisation with approximately 3,000 employees. Production facilities are located in France, Sweden, Germany, Italy, Spain, Brazil and China. Munksjö Oyj is listed on NASDAQ OMX Helsinki. Read more at www.munksjo.com.