The plans 2016-2018 within UPM share incentive programmes
UPM-Kymmene Corporation Stock Exchange Release 2 February 2016 at 12:30 EET
The plans 2016-2018 within UPM share incentive programmes
UPM's Board of Directors has approved the commencement of new plans for the period 2016-2018 within the company's two long-term share incentive programmes: the Performance Share Plan and the Deferred Bonus Plan.
The long-term share incentive programmes consist of annually commencing new plans subject to the approval of the Board of Directors of UPM in each case.
The earning criterion for the earning period 2016-2018 of the Performance Share Plan is the total shareholder return during 2016-2018.
The earning criteria for the Deferred Bonus Plan are based on the Group and each business area's EBITDA. The plan for the period 2016-2018 consists of a one-year earning period (2016) and a two-year restriction period following thereafter (2017-2018).
The share incentive plans for the period 2016-2018 cover in total approximately 370 participants. In case all the set performance targets are met in full, the estimated total maximum number of shares to be delivered under these plans is approximately 1,565,000 shares. The above indicated estimate of the maximum share rewards represents the gross value of the rewards of which the applicable taxes will be deducted before the shares are delivered to the participants.
Share delivery will be executed by using already existing shares and the plans, therefore, have no dilutive effect. Besides the attainment of the performance criteria the share reward under both plans is subject to the continuation of the employment. The share rewards earned on the basis of the plans for the period 2016-2018 will be delivered in 2019.
For further information please contact:
Riitta Savonlahti, Executive Vice President, Human Resources, tel. +358 204 15 0048
UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Stakeholder Relations
UPM, Media Relations
9.00-16.00 EET
tel. +358 40 588 3284
media@upm.com
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UPM
Through the renewing of the bio and forest industries, UPM is building a sustainable future across six business areas: UPM Biorefining, UPM Energy, UPM Raflatac, UPM Paper Asia, UPM Paper Europe and North America and UPM Plywood. Our products are made of renewable raw materials and are recyclable. We serve our customers worldwide. The group employs around 19,600 people and its annual sales are approximately EUR 10 billion. UPM shares are listed on NASDAQ OMX Helsinki. UPM - The Biofore Company - www.upm.com