Aspo Plc’s Board of Directors approved key employee incentive plan
16 February 2024 - 6:40AM
UK Regulatory
Aspo Plc’s Board of Directors approved key employee incentive plan
Aspo Plc
Stock Exchange Release
February 15, 2024, at 21:40 p.m.
Aspo Plc’s Board of Directors approved key employee
incentive plan
The Board of Directors of Aspo Plc has approved a new incentive
plan for the Group key employees by establishing a new Performance
Share Plan 2024–2026. The aim of the plan is to combine the
objectives of the shareholders and the key employees in order to
increase the value of the Company in the long-term, to retain the
key employees at the Company, and to offer them competitive reward
plan based on earning and accumulating the Company´s shares.
Rewards earned from each of the three performance periods of the
Performance Share Plan will be based on the Group’s Earnings per
Share (EPS), two criteria based on sustainability targets and
profit targets for business divisions. The prerequisite for
participation in the plan and for receipt of reward on the basis of
the program is that a key person holds the Company's shares or
acquires the Company's shares, up to the number predetermined by
the Board of Directors.
The potential reward will be paid partly in the Company´s shares
and partly in cash in 2025, 2026 and 2027. The cash proportion is
intended to cover taxes and tax-related costs arising from the
reward to a key employee. As a rule, no reward will be paid if a
key employee´s employment or service ends before the reward
payment. The shares paid as reward may not be transferred during
the restriction period. As a rule, if a key employee´s employment
contract or director contract terminates during the restriction
period, he or she must gratuitously return the shares earned as
reward.
The Performance Share Plan 2024–2026 is directed to circa 20
participants, including the members of the Group Executive
Committee. The rewards are to be paid on the basis of the Plan
correspond to the value of a maximum total of 280,000 Aspo Plc
shares including also the proportion to be paid in cash.
ASPO PLC
The Board of Directors
Further information:
Heikki Westerlund, Chairman of the Board of Directors, tel. +358 50
559 6580
Aspo creates value by owning and developing business operations
sustainably and in the long term. Our companies aim to be market
leaders in their sectors. They are responsible for their own
operations, customer relationships and the development of these
aiming to be forerunners in sustainability. Aspo supports its
businesses profitability and growth with the right capabilities.
Aspo Group has businesses in 18 different countries, and it employs
a total of approximately 800 professionals.
Distribution:
Nasdaq Helsinki
Key Media
www.aspo.com
- Aspo Plc’s Board of Directors approved key employee incentive
plan
Aspo (LSE:0J8S)
Historical Stock Chart
From Apr 2024 to May 2024
Aspo (LSE:0J8S)
Historical Stock Chart
From May 2023 to May 2024