The Board of Directors of KONE Corporation decided on new performance periods for the long-term incentive plans
KONE Corporation, stock exchange release, January 30, 2025, at 9:00 a.m. EET
The Board of Directors of KONE Corporation decided on new performance periods for the long-term incentive plans
The Board of Directors of KONE Corporation has on 29 January 2025 decided on commencement of a performance based long-term incentive plan 2025-2027 and Restricted Share Plan 2025 under the long-term incentive structures as announced on 28 January 2021.
Performance based long-term incentive plan 2025
The performance based long-term incentive plan consists of annually commencing individual share plans, each with a three-year rolling performance period. The aim of the share-based incentive plan is to support long term value creation and align interests of shareholders and management. The target group and targets within the plan as well as possible rewards are decided upon annually by the Board of Directors.
For the performance period 2025-2027, the plan has approximately 600 participants. The performance criteria for the year 2025 are based on adjusted EBIT margin, sales growth and a sustainability index, which measures progress in carbon emission reduction, diversity, safety performance and cybersecurity. The maximum number of shares to be paid based on the performance period 2025-2027 is 1,017,579 KONE class B shares. The potential rewards under the plan will be paid as a combination of KONE class B shares and a cash payment equivalent to the taxes and similar charges that are incurred from the receipt of the shares. Potential rewards from the performance period 2025-2027 will be paid out in spring 2028.
Restricted Share Plan 2025
In addition to the above, KONE operates a restricted share plan structure that serves as a complementary long-term share plan to be used as a commitment instrument for recruitment and retention purposes for top management and other selected key persons. The potential rewards under the plan will be paid to the participants in KONE Class B shares, provided that their employment or service relationship with KONE Group is in force at the time of payment. The maximum number of shares to be paid from Restricted Share Plan 2025 is 81,250 KONE class B shares.
For further information, please contact:
Kaija Bridger, Executive Vice President, People & Communications, tel. +358 20 475 4292
Sender:
KONE Corporation
Niina Vilske
Secretary to the Board
Kaija Bridger
Executive Vice President, People & Communications
About KONE
At KONE, our purpose is to shape the future of cities. As a global leader in the elevator and escalator industry, we move two billion people every day, making their journeys safe, convenient, and reliable with smart and sustainable People Flow®. In 2024, KONE had annual sales of EUR 11.0 billion, and at the end of the year over 60,000 employees in close to 70 countries. KONE class B shares are listed on the Nasdaq Helsinki Ltd. in Finland.
www.kone.com