Fortum to launch the savings period for 2023 under its employee share savings programme
FORTUM CORPORATION STOCK EXCHANGE RELEASE 30 SEPTEMBER 2022 AT 14.40 EEST
Release category: Other information disclosed according to the rules of the Exchange
Fortum’s Board of Directors has decided to launch the savings period for the year 2023 under its Employee Share Savings (ESS) programme. The ESS programme was established in October 2019 and the Board of Directors decides separately on the annual launch of each individual savings period. The objective of the ESS programme is to motivate Fortum employees to invest in Fortum shares and retain ownership in the company and to align the employees’ interests with its shareholders.
The participants of the ESS programme will invest a part of their monthly salary and based on this investment will, as a gross reward, be granted one matching share for each two purchased savings shares after approximately three years from the beginning of the savings period. The prerequisites for receiving matching shares are that a participant holds the purchased savings shares until the end of the holding period, and that his or her employment has not ended before the end of the holding period. The holding period for the 2023 savings period will end on 28 February 2026.
The terms and conditions of the savings programme are the same as in previous programmes. The ESS programme is available to employees of the Fortum Group, with the exception of employees in countries where local legislation or other reasons make it unfeasible.
Due to the restrictions regarding management incentives put in place by the Finnish State in the Solidium bridge financing facility, Fortum has assessed and concluded that Fortum Executive Management team will not participate this time in the ESS programme.
The total amount of all savings for the 2023 savings period may not exceed EUR 6 million.
Fortum Corporation
Ingela Ulfves, Vice President, Investor relations and Financial communications
Further information:
Jari Laitinen, Vice President, Compensation and Benefits, tel. +358 40 660 2506
Nora Hallberg, Manager, IR and Financial Communications, tel. +358 04 720 1775
Distribution:
Nasdaq Helsinki
Main media
www.fortum.com
Fortum
Fortum is an energy company driving the change for a cleaner world. Our role is to ensure the security of supply and a fast and reliable transition to a carbon-neutral economy by providing customers and societies with clean energy and sustainable solutions. Fortum’s core operation are located in the Nordics and consist of CO2-free power generation, electricity sales, district heating as well as recycling and waste solutions. Fortum's share is listed on Nasdaq Helsinki. fortum.com
