A New Equity Incentive Program for Qt Key Persons
Qt Group Plc Stock Exchange Release 15.2.2019 at 8:15 am
The Board of Directors of Qt Group Plc has decided to establish a new equity incentive program for the company’s President and CEO and other key persons. Objective of the program is to bring together the company owners’ and key persons’ goals for enhancing the company’s value, commit the key persons to the company and to offer them a competitive incentive program based on company shares.
The incentive program has one reward collection period covering years 2019–2021. Rewards in the program are determined by Qt Group Plc’s net sales in 2021. Rewards will start accumulating once the net sales for 2021 exceed EUR 80 million, and they then continue to increase in a linear manner up to a maximum value equivalent to 530,000 shares once net sales reach EUR 120 million. Of the maximum reward equivalent to the value of 530,000 shares, the President and CEO’s share is 100,000 and for other key persons it is equivalent to the value of 430,000 shares. The rewards pursuant to the program will be paid upon the confirmation of the financial statements for 2021 as a combination of shares and cash, so that the cash amount will approximately cover the taxes and other statutory fees resulting from the reward, and the rest of the reward will be paid to the recipient in shares. Shares paid out as rewards are not subject to any restrictions concerning e.g. their hand-over.
The Company Board of Directors has decided to outsource the management, securing and implementation of the incentive program from Evli AwardsManagement. According to the outsourcing arrangement, the company shall fund the acquisition of shares required for paying out rewards in the manner permitted by chapter 13, section 10, clause 2 of the Limited Liability Companies Act, and Evli AwardsManagement shall independently perform the acquisition of such shares in the stock market.
Further information on the terms and conditions of the incentive program is available at the company website at https://investors.qt.io/governance/compensations/.
Qt Group Plc
Board of Directors
President and CEO Juha Varelius, tel. +358 9 8861 8040
NASDAQ Helsinki Ltd.
Qt Group (Nasdaq Helsinki: QTCOM) is an international software company with a strong presence in over 70 sectors. Qt technology is used in millions of devices and applications by major global enterprises and developers worldwide. Qt helps its customers create a unique user experience, promoting their digital development projects. The company’s net sales in 2018 were EUR 45.6 million and it employs approximately 300 people. Read more at http://qt.io.