• news.cision.com/
  • Olvi Oyj/
  • The Board of Directors of Olvi plc Decided on a New Performance Based Matching Share Plan for the Company’s CEO

The Board of Directors of Olvi plc Decided on a New Performance Based Matching Share Plan for the Company’s CEO

Report this content

Olvi Plc  Stock exchange release 16 October 2023 at 5.00 pm

Other information disclosed according to the rules of the Exchange
 

The Board of Directors of Olvi plc Decided on a New Performance Based Matching Share Plan for the Company’s CEO


The Board of Directors of Olvi plc has decided on a new share-based incentive plan for the company’s CEO. The aim of the incentive plan is to support the achievement of the company’s targets and commit the CEO to the company by strengthening value-based management and offering an incentive plan based on earning and accumulating shares in the company. 

 

Matching Share Plan 2023–2025
 

The CEO’s Matching Share Plan consists of one matching period, from 1 December 2023 to 31 January 2025.

 

In the plan, the CEO is offered an opportunity to receive matching shares for their personal investment in Olvi plc Series A shares, at the rate of one share per each share acquired through personal investment. The rewards based on the plan will be paid after the end of the matching period.

In the Matching Share Plan, the CEO has an opportunity to earn 0.5 shares based on commitment and continuous shareholding and 0.5 shares based on achieving the earning criteria set by Olvi’s Board. 

 

The Board of Directors has set the total shareholder return (TSR) on the Olvi plc Series A share as the earning criterion for the 2023–2025 matching period.

 

The net amount of rewards to be paid for the matching period will amount to a maximum of 1,000 Olvi plc Series A shares.


General

 

The rewards will be paid partly in Series A shares in Olvi plc and partly in cash. The purpose of the cash portion is to cover taxes and tax-like payments arising for the participants from the reward. In general, no reward is paid if the CEO’s contract terminates before the reward payment.

The Board of Directors has set a maximum for the total amount of gross rewards to be paid to a participant during a calendar year. This maximum applies to all gross rewards to be paid based on long-term incentive plans.

Olvi’s CEO must own at least half of the shares they have earned as a net reward under the new incentive schemes, until the total value of their shareholding in the company equals 50% of their annual salary in the previous year. This number of Series A shares in Olvi plc must be held for as long as the employment contract continues.

Olvi has also in operation Performance Share Plans, in which about 20 key personnel, including the CEO, belong to the target group.

 

Olvi plc

Board of Directors

 

More information:

Nora Hortling
Chair of the Board
Tel. +358 50 3754 626

 

Distribution:

Nasdaq Helsinki Oy

Major media

www.olvi.fi 

 

Subscribe