The Board of Directors of Kemira Oyj decided to establish a Restricted Share Plan
Kemira Oyj, Stock Exchange Release, December 15, 2023 at 5.30 pm (EET)
The Board of Directors of Kemira Oyj decided to establish a Restricted Share Plan
Kemira’s Board of Directors has decided to establish a Restricted Share Plan (RSP).
The aim of the Restricted Share Plan is to function as a complementary share-based incentive tool to combine the objectives of the shareholders and the persons participating in the plan to increase the value of Kemira and to commit the participants to Kemira. In particular, the Restricted Share Plan can be used as a commitment instrument in specific executive recruitment situations. The terms allow the plan to be used with careful consideration also in retention situations.
The restricted share plan is continuous. The Board approves for each calendar year an annual quota of shares, which can be granted within the respective year under the RSP. The annual quota shall mean a net number of shares together with a cash proportion required for covering all taxes. The total amount of shares offered during the year cannot exceed the respective quota approved by the Board.
The plan offers participants an opportunity to receive a predetermined number of company’s shares after a specific restriction period, which can vary from twelve (12) to forty (40) months with a decision by the Board of Directors.
No earning criteria is applied to the restricted share plan and the delivery of the share reward is subject to the continuation of the employment.
Restricted Share Plan 2024
The maximum aggregated amount of shares that may be granted under the Restricted Share Plan in year 2024 is 70,000 Kemira shares. In addition, a cash proportion intended to cover the taxes and tax-related costs arising from the reward is included.
In addition to the restricted share plan, Kemira has another share based long-term incentive arrangement: the Performance Share Plan. Further information on Kemira’s share based long-term incentive is available in the stock exchange release published on December 16, 2021.
For more information, please contact:
Kemira Oyj
Mikko Pohjala, Vice President, Investor Relations
Tel. +358 40 838 0709
mikko.pohjala@kemira.com
Kemira is a global leader in sustainable chemical solutions for water-intensive industries. We provide the best-suited products and services to improve our customers’ product quality, process, and resource efficiency. Our focus is on pulp & paper, water treatment, and energy sectors. In 2022, Kemira had annual revenue of around EUR 3.6 billion and around 5,000 employees. Kemira shares are listed on the Nasdaq Helsinki Ltd. www.kemira.com