Outokumpu’s next plan period 2019–2021 for share-based program and 2018 share rewards in Matching Share Plans
Outokumpu Oyj
Stock exchange release
December 20, 2018 at 3.15 pm EET
Outokumpu’s next plan period 2019–2021 for share-based program and 2018 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 2019–2021 for the company’s share-based program. Furthermore, the Board approved the deliveries of the 2018 share rewards in the Matching Share Plans for Management and CEO.
Plan periods for share-based programs 2019–2021
The Board of Directors has now approved the commencement of Outokumpu’s share-based program for the period 2019–2021, Performance Share Plan. The plan commences at the beginning of 2019, and the share rewards will be distributed in spring 2022.
The earning criterion 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 2019–2021 is 150 key employees. The maximum number of gross shares (taxes included) that can be allocated is 2,900,000. The share rewards will be distributed in spring 2022 if the performance criterion is met.
Applicable taxes will be deducted from gross shares, and the remaining net value will be delivered to the participants in Outokumpu shares.
2018 share rewards in Matching Share Plans
The Board of Directors has approved the delivery of the second reward from the Matching Share Plan for Management and third reward to the CEO by the end of December 2018. After deduction for applicable taxes, the total net number of shares delivered will be 466,135, of which 185,077 will be delivered to the CEO.
Outokumpu will use its treasury shares for the reward payments, so the total number of shares of the company will not change. More information on share-based programs and their terms is available at: www.outokumpu.com/en/investors/governance/remuneration/Share-based-incentive-programs/.
For more information:
Investors: Tommi Järvenpää, tel. +358 9 421 3466, +358 40 576 0288
Media: Reeta Kaukiainen, tel. +358 50 522 0924
Outokumpu Oyj
Outokumpu is the global leader in stainless steel. We aim to be the best value creator in stainless 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