YIT’s share-based long-term incentive scheme gets continuation
The Board of Directors of YIT Corporation decided on March 18, 2014, to launch a new share-based incentive scheme for key persons, comprising three earnings periods.
The earnings periods of the incentive scheme are the years 2014, 2015 and 2016. Any bonus will be determined on the basis of the indicators decided annually by the Board of Directors of YIT Corporation for each earnings period and their target levels. Return on investment is the key indicator in the scheme. Besides this, a target related to the Group’s cash flow has been set for 2014. The Board of Directors of YIT Corporation also decides on the approximately 200 key persons from different YIT countries to be included in the incentive scheme for each earnings period. The same key employees are not automatically covered by the scheme during all earnings periods.
A maximum of approximately 650,000 shares can be distributed each year, of which a maximum of 25,000 to the President and CEO of the company. The shares to be granted are already held by YIT as a rule. There is a two-year “commitment period” associated with each earnings period, after which the shares are transferred to key persons still employed by the company. Shares will be handed over in 2017, 2018 and 2019. The employer will cover the taxes and tax-like fees charged to the key employees covered by the scheme in connection with handover of the shares. Under all circumstances, the Board has the right to amend the bonuses in a reasonable manner.
“The aim is to commit and motivate the personnel to implement YIT’s strategy and increase the company’s value. The incentive scheme is a component of overall remuneration, which also supports the development of balanced values and leadership”, says Pii Raulo, Senior Vice President, Human Resources at YIT.
For further information, please contact:
Pii Raulo, Senior Vice President, Human Resources, YIT Corporation, +358 40 572 3568, pii.raulo@yit.fi
Sanna Kaje, Vice President, Investor Relations, YIT Corporation, +358 50 390 6750, sanna.kaje@yit.fi
YIT CORPORATION
Sanna Kaje
Vice President, Investor Relations
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