Revenio Group Corporation: New share-based Long-term Incentive Plans
Revenio Group Corporation: New share-based Long-term Incentive Plans
Revenio Group Corporation, Stock Exchange Release, New share-based Long-term Incentive Plans, April 20, 2018 at 8.55 am
Revenio Group Corporation: New share-based Long-term Incentive Plans
The Board of Directors of Revenio Group Corporation decided on a new share-based Long-term Incentive Plans for the management team
The Board of Directors of Revenio Group Corporation has decided at March 20, 2018 on two new share-based Long-term Incentive Plans for the management team. The plan will form a part of Revenio Group Corporation's remuneration program for its key employees, and the aim of the plans is to support the implementation of the company's strategy and to align the objectives of key employees with the shareholders to increase the value of the company.
Performance Share Plan 2018-2020
The long-term Performance Share Plan has one three-year performance period 2018-2020. The Board of Directors decides separately the minimum, target and maximum rewards for each participant, as well as the performance criteria and related targets.
The amount of the reward paid to participants depends on achieving the pre-established targets. No reward will be paid if targets are not met or if the participant's employment or service ends before reward payment. The Performance Share Plan has 10 participants at most and the targets for the Performance Share Plan relate to the company's three-year total shareholder return and cumulative operating profit.
If the targets of the plan are reached, rewards will be paid to participants in the spring 2021 after the end of the performance period. The maximum number of shares to be paid based on the performance period is approximately 50,000 Revenio Group Corporation's shares. This number of shares represents gross earning, from which the withholding tax and possible other applicable contributions are deducted and the remaining net amount is paid in shares. However, the company has the right to pay the reward fully in cash under certain circumstances.
Restricted Share Plan 2019-2021 for the CEO
The purpose of the Restricted Share Plan is to commit the CEO and complement his Performance Share Plan. The Restricted Share Plan applies only to the company's CEO and it consists of one three-year vesting period.
The Restricted Share Plan commences as of the beginning of 2019 and any potential share awards thereunder will be delivered in three installments. The total maximum amount of share awards payable under the Restricted Share Plan 2019-2021 is 10,188 shares, of which 25 % shall be delivered in the spring 2020, 25 % in the spring 2021 and 50 % in the spring 2022 subject to continuing employment until the shares from each respective installment have been delivered to the CEO. This number of shares represents gross earning, from which the withholding tax and possible other applicable contributions are deducted and the remaining net amount is paid to the participant in shares.
Revenio Group Corporation
Board of Directors
For further information, please contact:
Timo Hildén, CEO, tel. +358 40 580 4774
timo.hilden@revenio.fi
www.revenio.fi
DISTRIBUTION:
Nasdaq Helsinki Oy
Financial Supervisory Authority (FIN-FSA)
Principal media
www.revenio.fi
The Revenio Group in brief
Revenio is a Finnish, globally operating health technology corporation whose worldwide success is based on a strongly patented intraocular pressure measurement technology. The Revenio Group consists of Icare Finland Oy, Revenio Research Oy and Oscare Medical Oy. The common denominators of Revenio's business operations include screening, follow-up and the global need to make cost savings through preventive health care. Revenio seeks vigorous growth in health technology. Revenio aims to develop even more efficient and easily adopted methods for the early-stage detection of diseases with significance for public health. The focus of Revenio's screening technology is on the early detection of glaucoma, osteoporosis, skin cancer and asthma, and the monitoring of these during the treatment process.
In 2017, net sales of Revenio Group totaled MEUR 26.8, with an operating margin of 35.5%, excluding non-recurring expenses. Revenio Group Corporation is listed on Nasdaq Helsinki.