Kojamo Plc: Kojamo’s Board of Directors resolved on the long-term incentive plan’s performance period 2019–2021
Kojamo Plc Stock Exchange Release, 14 February 2019 at 8:45 a.m. EET
Kojamo’s Board of Directors resolved on the long-term incentive plan’s performance period of 2019–2021
Kojamo Plc maintains a long-term incentive plan launched in 2018 for the group’s key employees with performance periods of 2018–2020, 2019–2021 and 2020–2022. The Board of Directors has resolved on the performance criteria, targets and target group for the performance period of 2019–2021.
During the performance period of 2019–2021, the incentive plan is targeted at the members of the Management Team, 6 persons in total. The possible reward for the performance period of 2019–2021 is based on the group’s revenue, return on equity (%) and funds from operations (FFO) per share.
The possible reward for the performance period will be paid during the year following the expiry of the performance period partially in shares in the company and partially in cash. The rewards to be paid on the basis of the performance period of 2019–2021 correspond to the value of maximum total of 116,752 shares including the proportion to be paid in cash.
Ownership obligation and conditions for reward payment
The group’s CEO must hold 50 percent of the net number of shares paid to him based on the whole incentive plan, until his/her total shareholding in the company corresponds to the value of his/her annual gross salary.
Other participants must hold 50 percent of the net number of shares paid to them based on the whole incentive plan, until their total shareholding in the company corresponds to the value of 50 percent of their annual gross salary. Such amount of shares must be held as long as the participant’s employment or service continues in company belonging to the Kojamo group.
In case a key employee’s service in the Company is terminated prior to the payment of the reward, usually no reward will be paid.
The aim of the incentive plan
The incentive plan aims to align the interests of Kojamo’s shareholders and key employees in order to increase the company’s value in the long term and commit the key employees to the implementation of the company’s strategy and offer them a competitive incentive plan based on earning and accumulation of the company’s shares. In addition to the incentive plan launched in 2018, Kojamo also maintains an long-term incentive plan launched in 2015 with the last performance period of 2017–2019 currently ongoing.
For more information, please contact
Maija Hongas, Manager, Investor Relations, Kojamo Plc, tel. +358 20 508 3004
Distribution
Nasdaq Helsinki, key media
Kojamo is Finland’s largest private residential real estate company and a frontrunner in the rental housing business. Our mission is to create better urban housing. We operate in Finland’s most significant growth centres and our Lumo brand provides rental housing and new services for urban housing with 50 years of experience. We actively develop the value and number of our investment properties by developing new properties and our existing property portfolio. We want to be the property market frontrunner and the number one choice for our customers. Kojamo’s shares are listed on the official list of Nasdaq Helsinki. For more information, please visit kojamo.fi/en/