The Board of Directors of
The Board of Directors of
The Performance Share Plan directed to the Executive Team members includes a three-year performance period parallel to a one-year performance period. Valmet's Board of Directors decides on the predefined performance measures and targets in the beginning of each performance period. The potential reward for the three-year performance period 2021-2023 is based on reaching predefined strategic targets of the Company. The potential reward for the one-year performance period 2021 is based on Valmet's Comparable EBITA margin and orders received growth (%) of the stable business, that is, the Services and Automation business lines. The potential reward for the performance period 2021-2023 will be paid in Company shares in 2024, and the potential reward for the performance period 2021 will be paid in Company shares in 2022. The potentially earned share reward represents a gross reward from which the applicable payroll tax is withheld, and the remaining net balance is paid to the key employee in shares.
The Deferred Share Plan directed to other key employees and management talents includes a one-year performance period, the year 2021. The predefined performance measures and targets are decided by Valmet's Board of Directors and will be the same as in the Executive Team's Performance Share Plan, that is Valmet's Comparable EBITA margin and Orders Received growth (%) of the stable business. The potential reward for the performance period 2021 will be paid in Company shares in 2022. The potentially earned share reward represents a gross reward from which the applicable payroll tax is withheld, and the remaining net balance is paid to the key employee in shares.
The rewarded shares based on the one-year performance period from both the Performance Share Plan and the Deferred Share Plan may not be transferred during a two-year restriction period. Should a key employee's employment or service end during the restriction period, he or she must, as a rule, gratuitously return the shares given as reward to the Company. As a rule, no reward is paid if the key employee's employment or service at Valmet ends before the reward payment.
The Performance Share Plan is directed to Valmet's Executive Team, currently 13 participants, and the Deferred Share Plan is directed to a maximum of 130 participants, of which approximately 80 are key employees in management positions, and approximately 50 are management talents. The maximum total amount of potential share rewards to be paid on the basis of the performance periods 2021-2023 of these two plans is approximately 460,000 shares in
As part of total remuneration, for example for retention purposes, the Board of Directors has also decided on an additional incentive element for 2021, the
Both the Performance Share Plan and the
Acquisition of own shares
The Board of Directors of Valmet has in its meeting on
Further information, please contact:
Julia Macharey, SVP, Human Resources and
tel. +358 10 672 0022
VALMET
CFO
Director, Investor Relations
Valmet is the leading global developer and supplier of process technologies, automation and services for the pulp, paper and energy industries. We aim to become the global champion in serving our customers.
Valmet's strong technology offering includes pulp mills, tissue, board and paper production lines, as well as power plants for bioenergy production. Our advanced services and automation solutions improve the reliability and performance of our customers' processes and enhance the effective utilization of raw materials and energy.
Valmet's net sales in 2019 were approximately
Read more www.valmet.com, www.twitter.com/valmetglobal
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