A One-Off Matching Share Plan for the CEO of Bittium Corporation
Bittium Corporation
Other information disclosed according to the rules of the Exchange
A One-Off Matching Share Plan for the CEO of Bittium Corporation
Bittium Corporation, Stock Exchange Release, April 27, 2023, at 8:05 am (CEST+1)
The Board of Directors of Bittium Corporation has decided on the establishment of a one-off fixed Matching Share Plan for the Chief Executive Officer (CEO) of Bittium (below also the “Plan”).
The aim of the Plan is through share ownership to align the interests of the CEO with those of the company's shareholders and to promote shareholder value creation in the long term as well as the retention of the CEO with the company.
The fixed Matching Share Plan is a one-off plan, in which the CEO is expected to purchase shares of Bittium Corporation with at least the value of 200,000 euros at a price formed in public trading on Nasdaq Helsinki. The shares shall be purchased after the publication date of Bittium Corporation’s Business Review January-March 2023.
Bittium Corporation will match the share investment by way of the CEO receiving matching shares without consideration with a net value of 100,000 euros. The matching shares will be paid in listed shares of Bittium Corporation.
The matching shares are aimed to be delivered to the CEO during the second quarter of 2023 and in any event during the year 2023. In addition to the matching shares, the company pays the payroll tax and other taxes and tax-like charges payable in connection with the Plan.
Based on the current value of the company's share the estimated aggregate number of matching shares to be delivered under the Plan is approximately 25,000 shares. The materialized amount of matching shares may deviate significantly from this estimate as a result of share price development.
The matching shares received by the CEO based on the Plan will be subject to a transfer restriction (lock-up) of three years.
Oulu, April 27, 2023
Bittium Corporation
The Board of Directors
Further information:
Mr. Kari Jokela
CLO
Tel. +358 40 344 5258
Distribution
Nasdaq Helsinki Oy
Main media
Bittium
Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its over 35-year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology and neurophysiology. Net sales in 2022 were EUR 82.5 million and operating profit was EUR 0.3 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com