Revenio Group Corporation: New share-based Long-term Incentive Plans
Revenio Group Corporation, Stock Exchange Release, New share-based Long-term Incentive Plans, June 20, 2019 at 11.00
The Board of Directors of Revenio Group Corporation decided on a new share-based Long-term Incentive Plans for the CEO and the management team
The Board of Directors of Revenio Group Corporation has decided on a new three year share-based Long-term Incentive Plans for the CEO and 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 2019-2021
The long-term Performance Share Plan has one three-year performance period 2019–2021. 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 2022 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.
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 globally operating health technology corporation and a global leader in ophthalmic products.
The Revenio Group consists of Icare Finland Oy, Icare USA Inc., Revenio Italy S.R.L, CenterVue SpA, CenterVue Inc, Revenio Research Oy and Oscare Medical Oy.
The common denominator of Revenio's business is patient driven screening, monitoring and the global need for cost savings in healthcare through preventive healthcare. Revenio seeks strong 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 objective is to create better quality of life through health technology solutions that enable more efficient diagnostics. The focus of Group is on the early detection and the management of sight-threatening pathologies such as Glaucoma, Diabetic Retinopathy and Macular Degeneration. Revenio Research, in turn, focuses on the commercialization of systems supporting the diagnosis and treatment of skin cancer and asthma.
In 2018, the Revenio Group's net sales totaled EUR 30.7 million, with its operating margin standing at 33.3%. Revenio Group Corporation is listed on Nasdaq Helsinki.