Basware launches new Matching Share Plan for key employees
Basware Corporation, stock exchange release, July 18, 2018 at 9.00am
Basware launches new Matching Share Plan for key employees
The Board of Directors of Basware Corporation has resolved in its meeting on July 17, 2018 to establish a new Matching Share Plan 2018-2020 for the Group’s key employees.
The aim of the plan is to further align the objectives of shareholders and key employees, to retain key employees at the company, and to offer them competitive reward plans based on acquiring and holding the company’s shares.
The potential rewards from the plan will be paid partly in Basware shares and partly in cash. The cash proportion is intended to cover taxes and tax-related costs arising from the reward to the employee.
The prerequisite for receiving reward on the basis of the Matching Share Plan is that the plan member acquires Basware shares. The plan member will, as a reward, receive matching shares for each share subject to the share ownership prerequisite after a matching period of three (3) years. Receipt of matching shares is contingent on the continuation of employment or service and on the plan member holding the acquired shares upon reward payment.
The rewards to be paid in aggregate to plan members on the basis of the Matching Share Plan correspond to the value of a maximum total of 77,714 Basware Corporation shares, including also the proportion to be paid in cash.
The plan as a whole entails an aggregate share ownership interest of approximately 116,571 shares for the plan members, via personal share acquisitions and the right to future share ownership through the Matching Share Plan.
BASWARE CORPORATION
Board of Directors
For more information, please contact:
Ilkka Sihvo, Chairman of the Board, Basware Corporation
Tel. +358 40 501 8251, ilkka.sihvo@basware.com
Distribution:
Nasdaq Helsinki
Key media
investors.basware.com/en
About Basware:
Basware (Nasdaq: BAS1V) is the global leader in providing networked source-to-pay solutions, e-invoicing and value added services. Basware’s commerce and financing network connects businesses in over 100 countries and territories around the globe. As the largest open business network in the world, Basware provides scale and reach for organizations of all sizes, enabling them to grow their business and unlock value across their operations by simplifying and streamlining financial processes. Small and large companies around the world achieve significant cost savings, more flexible payment terms, greater efficiencies and closer relationships with their suppliers. Find out more at https://investors.basware.com/en.
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