Outokumpu – Next plan period 2020–2022 for share-based programs and 2019 share rewards in Matching Share Plans

Outokumpu Oyj
Stock exchange release
December 19, 2019 at 3.30 pm EET

Outokumpu – Next plan period 20202022 for share-based programs and 2019 share rewards in Matching Share Plans

As part of the long-term incentive programs for key employees in Outokumpu, the Board of Directors has approved the commencement of the plan period 2020–2022 for the company’s share-based programs. Furthermore, the Board approved the deliveries of the 2019 share rewards in the Matching Share Plans for Management and CEO.

Plan periods for share-based programs 2020–2022

The Board of Directors has now approved the commencement of Outokumpu’s share-based programs for the period 2020–2022, Performance Share Plan and Restricted Share Pool. The plans commence at the beginning of 2020.

The earning criterion of the Performance Share Plan for this period measures Outokumpu's profitability and the efficiency with which its capital is employed compared to a peer group. The maximum number of participants in the plan period 2020–2022 is 150 key employees. The maximum number of gross shares (taxes included) that can be allocated is 3,700,000.

Restricted Share Plan is used for a limited number of employees, i.e. key recruitments, exceptional performance, high potential, when retention need, other individual specific situations. The maximum number of gross shares (taxes included) that can be allocated is 250,000 shares for the plan period 2020–2022.

The share rewards will be distributed in spring 2023, if the employment conditions and performance criterion are met. Applicable taxes will be deducted from gross shares, and the remaining net value will be delivered to the participants in Outokumpu shares.

2019 share rewards in Matching Share Plans

The Board of Directors has approved the delivery of the third reward from the Matching Share Plan for Management and fourth reward to the CEO by the end of December 2019. After deduction for applicable taxes, the total net number of shares delivered will be 384,928, of which 185,077 will be delivered to the CEO.

More information on share-based programs and their terms is available at: https://www.outokumpu.com/investors/governance/remuneration/share-based-incentive-programs.

 

For more information:

Corporate communications, tel. +358 9 421 3840

Outokumpu Oyj

Outokumpu is the global leader in stainless steel. We aim to be the best value creator in stainless steel by 2020, through our competitive edge of customer orientation and efficiency. The foundation of our business is our ability to tailor stainless steel into any form and for almost any purpose. Stainless steel is sustainable, durable and designed to last forever. Our customers use it to create civilization’s basic structures and its most famous landmarks as well as products for households and various industries. Outokumpu employs 10,000 professionals in more than 30 countries, with headquarters in Helsinki, Finland and shares listed in Nasdaq Helsinki. www.outokumpu.com

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