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SkartaNYAB Plc establishes new share-based incentive plans

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SkartaNYAB Plc
COMPANY ANNOUNCEMENT
03 June 2022 at 11:45

SkartaNYAB Plc establishes new share-based incentive plans

The Board of Directors of SkartaNYAB Plc has decided to establish new share-based incentive plans for the employees and executives of SkartaNYAB Group. The plans include a performance share plan, a project bonus share plan, as well as a share issue directed to the personnel.

The objective of the plans is to align the interests of the employees and SkartaNYAB shareholders by strengthening the long-term ownership of employees and executives and, thus, to increase the company value in the long term as well as to drive performance, to retain employees and to offer the employees with competitive performance-based compensation.

”SkartaNYAB is a consortium of entrepreneurs, which distinguishes us from other companies in the industry. These incentive programs have a purpose that all our employees become shareholders of the company. They describe the uniqueness of the company in an excellent way and are an important step to strengthen the entrepreneurial culture in the entire organization. When we all work to reach common targets, I believe that we can achieve the best possible results for both our customers and shareholders”, Johan Larsson, SkartaNYAB Plc’s CEO comments.

Performance Share Plan

The Performance Share Plan 2022–2024 consists of two performance periods, covering the financial years of 2022–2023 and 2023–2024 respectively.

In the plan, the target group is given an opportunity to earn SkartaNYAB shares based on performance. The Board of Directors decides on the plan’s performance criteria and targets to be set for each criterion at the beginning of a performance period. The potential rewards based on the plan will be paid after the end of each performance period.

During the performance period 2022–2023, the performance criteria support on shareholder value creation, strategy execution and financial performance. Performance criteria are mainly set based on financial targets of the group.

The gross rewards to be paid on the basis of the performance period 2022–2023 correspond to the value of an approximate maximum total of 7,000,000 shares of SkartaNYAB. The Board of Directors has approved approximately 300 employees as eligible for participating in the performance period 2022-2023.

Project Bonus Share Plan

The Project Bonus Share Plan offers the target group a possibility to convert a certain proportion of the project bonus earned from the company’s short-term project-based incentive scheme into SkartaNYAB shares. The determined reward from the project-based incentive scheme will be multiplied with the reward multiplier. The reward multiplier is 1.2.

The possible reward from the Project Bonus Share Plan will be paid after a minimum 12-month waiting period. The Board selects the target group for each project separately. The number of shares available to be earned is dependent on project-based incentive scheme, participation to Project Bonus Share Plan, achieved performance and SkartaNYAB share price at the end of each project bonus period.

Share Issue directed to the personnel

The Board of Directors decided, by virtue of an authorization granted by the Extraordinary General Meeting of SkartaNYAB Plc held on 30 September 2021, on a share issue without payment in which the Company issues, in deviation from the shareholders’ pre-emptive subscription rights, a maximum total of 20,000 new shares in the Company to the Company’s personnel.

The Board decided to issue gratuitously 50 shares to each employee of SkartaNYAB Group. The new shares are given to the employees on the date decided by the Board of Directors in July 2022. The company will cover the taxes and tax-related costs arising from the given shares on behalf of the employee.

The Company has an especially weighty financial reason for the issue of shares, since the personnel share issue is intended to strengthen the employees’ ownership and commitment to SkartaNYAB.

General

The rewards from the Performance Share Plan and the Project Bonus Share Plan will be paid partly in SkartaNYAB shares and partly in cash. The cash proportions of the rewards are intended for covering taxes and tax-related expenses arising from the rewards to the participants. In general, no reward is paid if the participant’s employment or director contract terminates before the reward payment.

Contacts

About SkartaNYAB Oyj

SkartaNYAB is a builder of a clean future with decades of experience in complex and demanding projects. Our strategy is based on a strong competence and expertise in specialized construction, and we aim at expanding our activities in the value chain of wind power, solar energy and hydrogen solutions towards the development, construction and ownership of overall projects in clean energy, where we see excellent growth potential. SkartaNYAB is headquartered in Oulu and it has more than 300 employees at different locations in Finland and Sweden.

SkartaNYAB Plc's Certified Adviser is Augment Partners AB, info@augment.se, phone +46 8 604 22 55.

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