Finnair Plc: Managers’ transactions

Finnair Plc Managers' transactions 4 January 2018 at 2.35 pm EET

Finnair adds to the information on changes of management shareholdings from March 2017. Finnair announced on March 16, 2017 that it had transferred a total of 180 904 own shares held by the company as treasury shares to the participants of Finnair's share-based incentive scheme 2014-2016 as a reward payment. A total of 72 153 of these shares were transferred to Finnair executive board members.

In communicating these actions, a stock exchange release on CEO Pekka Vauramo receiving 28 434 shares as a part of the company's long-term incentive plan for the years 2014-2016 was accidentally left unpublished. It was however reported to the Financial Supervisory Authority in line with MAR (Market Abuse Regulation) on March 16, 2017. Information on Vauramo's shareholding has been up to date and accessible at all times on Finnair's web pages under Management shares at https://investors.finnair.com/en/governance/insider-issues/managers-holdings.

The Finnair Annual General Meeting was held on the same day, with 34 stock exchange releases including different language versions to be published during that day. Two of these releases were left unpublished due to human error, and Finnair apologizes for this.

The earnings criteria and the outcome in euros for the share-based incentive scheme have been presented in the annual report of 2016, which was published on February 15, 2017. Vauramo's earnings from the 2014-2016 share-based incentive scheme were also discussed as a separate item in the Annual General Meeting on March 16, 2017.

Finnair will review its process related to publishing this kind of stock exchange releases and take necessary actions to improve the related process.