The Board of Directors of
The purpose of the share-based incentive scheme is to align the goals of the Company's shareholders and key personnel in order to increase the value of the Company in the long term and to commit key personnel to the Company and its strategic targets.
Performance Share Plan 2020
The Performance Share Plan consists of annually commencing individual three-year Performance Periods, followed by the payment of the potential share reward. The commencement of each individual Performance Period is subject to a separate Board approval.
The Performance Period (PSP 2020-2022) commences effective as of the beginning of 2020 and the potential share reward thereunder will be paid in the first half of 2023 provided that the performance targets set by the Board of Directors are achieved. The potential reward will be paid partly in shares of
The potential share reward payable under the PSP 2020-2022 are based on the Earnings Per Share (EPS) growth and Return on Capital Employed (ROCE). The possible rewards paid based on the Performance Period of 2020-2022 will be a maximum of 569,260 gross shares.
If the individual's employment with
Restricted Share Plan 2020
The purpose of the Restricted Share Plan is to serve as a complementary tool for individually selected key employees of
The commencement of each individual plan is subject to a separate Board of Directors approval.
A precondition for the payment of the share reward based on the Restricted Share Plan is that the employment relationship of the individual participant with
The next plan (RSP 2020-2022) within the Restricted Share Plan structure commences effective as of the beginning of 2020 and the potential share reward thereunder will be paid in the first half of 2023. The possible rewards paid based on RSP 2020-2022 correspond approximately to a maximum of 120,000 gross shares.
Other terms
The Board of Directors anticipates that no new shares will be issued based on the share-based incentive scheme and that the scheme will, therefore, have no dilutive effect on the registered number of the Company's shares.
Further information:
Distribution: Nasdaq Helsinki, media and www.nokiantyres.com
https://news.cision.com/nokian-tyres/r/share-based-long-term-incentive-scheme-2020-2022-for-the-management-and-selected-key-employees-of-no,c3027079
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