COMPANY ANNOUNCEMENT
No. 115/2021
Tvis,
New share-based incentive program for executive management of
The Board of Directors of
The objectives of the program are to align the interests of TCM Group A/S’ executive management with those of the company’s shareholders and, thus, to promote shareholder value creation in the long term, to commit the management to achieving TCM Group A/S’ strategic targets and the retention of the executive management.
The program consists of annually commencing individual Performance Share Unit Plans, each with a three-year performance period. At the end of the performance period, the performance share units may be converted into shares in
The first plan (PSU 2021 – 2023) in the PSU structure covers the years 2021 – 2023. The potential shares to be received by the executive management thereunder will be awarded during the first half of the year 2024 provided that the performance targets set by the Board of Directors for the individual plan are achieved.
The performance measures applied to PSU 2021 - 2023 are the absolute total shareholder return of the Company’s share (absolute TSR), EBITDA and CO2 reduction.
If all the performance targets set for the first plan, PSU 2021 – 2023, are fully achieved, the aggregate allocated maximum number of share units and, accordingly, shares to be awarded based on this first plan is 15,989 shares (gross earning).
The estimated aggregate gross value of this plan, based on the current value of the Company's share, is approximately
Other terms
The value of the reward payable to participants based on the program is limited by a maximum cap, which is linked to
If the employment of the executive manager with
Executive management will be subject to the share ownership requirement of up to one years' base salary in accordance with TCM Group’s remuneration policy.
For further information please contact:
About
Attachment
- 115. New share-based incentive program for executive management of
TCM Group
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