New periods to start within the share-based long-term incentive programs of Fiskars Group

Fiskars Corporation
Stock Exchange Release
February 4, 2022 at 09:00 EET

New periods to start within the share-based long-term incentive programs of Fiskars Group
The Board of Directors of Fiskars Corporation has approved the launch of new periods for the years 2022–2024 within the Performance Share Plan and Restricted Share Plan, which form a part of Fiskars remuneration program for its key employees. The aim of the plans is to support the implementation of the company’s strategy and drive profitable growth and to align the objectives of key employees with the shareholders to increase the value of the company.

Performance Share Plan
The Performance Share Plan consists of annually commencing individual performance share plans, each with a three-year performance period, followed by the payment of the potential share reward. The Board of Directors will decide separately the commencement of each individual plan and their participants, the minimum, target and maximum rewards for each participant, as well as the performance criteria and related targets. The amount of the reward paid to a key person depends on achieving the pre-established targets. No reward will be paid if targets are not met or if the participant’s employment or service ends before reward payment.

For the 2022–2024 performance period, the plan has a maximum of 60 participants and the performance targets relate to the company’s absolute total shareholder return and cumulative comparable EBIT. If the targets of the plan are reached, rewards will be paid to participants in the spring of 2025.

If all maximum performance targets are reached, the reward payable in shares on the basis of the 2022–2024 performance period would amount to a total gross maximum of 500,000 shares in the company. For reference purposes only (noting that the market value of the shares will constantly change), calculated based on the volume weighted average price of Fiskars share on February 3, 2022, the estimated total value of this 2022–2024 performance period is approximately EUR 11.3 million.

Restricted Share Plan
The Restricted Share Plan consists of annually commencing individual restricted share plans. Each plan comprises an overall three-year retention period during which the Company may grant fixed share rewards to individually selected key employees as a long-term retention tool. The Board of Directors will decide separately the commencement of each individual plan. The company may choose to use a shorter retention period on a case by case basis within this overall three-year period. The granted share rewards will be paid after the retention period. No reward will be paid if the participant’s employment or service ends before reward payment.

For the 2022–2024 plan, the plan has a maximum of 30 participants and the share rewards potentially granted thereunder will be paid in spring of 2025.

The aggregate total maximum number of shares to be paid based on the plan for years 2022–2024 is gross maximum of 150,000 shares in the company. For reference purposes only (noting that the market value of the shares will constantly change), calculated based on the volume weighted average price of Fiskars share on February 3, 2022, the estimated total value of this 2022–2024 period is approximately EUR 3.4 million.

Other terms
For the plans for years 2022–2024, the maximum value of the reward payable to each participant based on each of the above described plans is limited by a cap linked to Fiskars share price development. Information about the other terms applied to the plans has been published in a Stock Exchange Release on December 10, 2020.

FISKARS CORPORATION

Media and investor contacts:
Kristian Tammela, Director, Investor Relations, tel. +358 40 708 1181

Making the everyday extraordinary
Fiskars Group’s vision is to create a positive, lasting impact on our quality of life. Our brands Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford, and Wedgwood are present in people’s everyday lives – at home, in the garden, and outdoors. This gives us an opportunity to make the everyday extraordinary today, and for future generations. We have a presence in 30 countries, and our products are available in more than 100 countries. Our shares are listed on the Nasdaq Helsinki (FSKRS). Please visit us at www.fiskarsgroup.com for more information and follow us on Twitter @fiskarsgroup.