Performance period 2024–2026 of Fondia's share-based commitment and incentive plan
Fondia Plc
Company release
18.12.2023 at 2.00 p.m. EET
In October 2021, Fondia Plc announced the company's decision to introduce a new share-based commitment and incentive plan ("the share plan"). The purpose of the share plan is to promote the achievement of the company’s financial objectives and to provide participants with a competitive long-term incentive plan, thereby increasing the company’s shareholder value. The share plan is performance-based and consists of performance periods of three financial years. The Board decides annually on the start of new performance periods, their terms and conditions, and the participants. The previous performance periods of the share plan are 1 January 2022–31 December 2024 and 1 January 2023–31 December 2025.
The Fondia Board has now decided on the third performance period of the share plan. The third performance period of the share plan starts on 1 January 2024 and ends on 31 December 2026.
Participants in the share plan can earn Fondia Plc shares according to the performance criteria set by the Board, which are related to the company’s financial and strategic performance.
In the third performance period 2024–2026, the target group includes employees of the Fondia Group selected by the Board, approximately 35 individuals in total. The future performance period will not be open to any individual who participated in the previous performance period starting on 1 January 2023. Members of the Group’s management team, including the CEO, can participate in the third performance period under its normal terms.
For the 2024–2026 performance period, rewards will be based on the average operating profit percentage (EBIT%) and total shareholder return (TSR) for the performance period. Rewards will be paid in full to participants in shares of Fondia Plc. If the maximum targets set for the performance criteria for the 2024–2026 performance period are met, the total estimated value of the reward payable under the performance period is a maximum of 100,000 shares in Fondia Plc, corresponding to a value of EUR 611,000 calculated on the basis of the average share price of Fondia's share weighted by the share turnover in November 2023. Potential rewards under the share plan will be paid after the end of the performance period until the end of May 2027.
In accordance with the terms of the plan, the Board may decide during the performance period to admit new participants to the plan. As a rule, if a participant's employment or service terminates before the payment of the reward, no reward will be paid.
Fondia Plc
Board of Directors
Further information:
Juha Sarsama, Chair of the Board, tel. +358 40 774 2099
Certified Adviser Aktia Alexander Corporate Finance Oy, tel. +358 50 520 4098
Fondia in brief
Fondia solves the legal needs of companies by combining the best services from internal legal departments and law firms. Fondia operates in Finland, Sweden, Estonia, and Lithuania, and the Group’s net sales in 2022 were €24.6 million. Fondia employs over 190 people.
www.fondia.com
Distribution:
Nasdaq Helsinki Ltd
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