STOCK EXCHANGE RELEASE
The Board of Directors of
The Board of Directors of the Company decide the earnings criteria of the programs as well as the targets to be set for management at the beginning of each earning period. A three-year potential reward is based on the achievement of the pre-set financial targets of the Group, sustainability targets and the individual target level goals set for each key employee. The potential reward for each program or earning period shall be paid out after the end of the relevant earning period, in one or at the most four separate installments during approximately three years. The reward is paid partly in the Company's shares and partly in cash. The cash proportion is aimed to cover taxes and tax-related costs arising from the reward to the key employee. If the employment or the service relationship of the key employee terminates prior to the payment of the reward, the accrued reward shall generally not be paid out.
The key person or a controlled entity of the key person are not entitled to sell the shares received through the incentive programs during the employment or the service relationship, to the extent the value of the total share ownership in the Company of the key person and his or her controlled entity would fall below the amount corresponding to the fixed annual gross salary of the person in question.
The new performance period of the share-based incentive program applies to seven (7) key persons. Share awards based on the new earning period equal to a maximum total value of approximately 60,000 United Bankers shares. The total value of the program, estimated based on the volume weighted average share price on the trading day preceding this release, is approximately
The share-based incentive program is not expected to have a significant effect on the price of the Company's share. The program will enable the Company meet regulatory requirements for management remuneration. At the same time, the program binds the long-term goals of the management and the Company's other shareholders together.
Board of Directors
Additional information:
Email: johan.linder@unitedbankers.fi
Telephone: +358 400 603 830, +358 9 25 380 221
United Bankers in brief:
DISTRIBUTION:
Nasdaq Helsinki
Main media
www.unitedbankers.fi
https://news.cision.com/united-bankers-oyj/r/united-bankers-plc-s-board-of-directors-decided-on-a-new-performance-period-for-the-management-s-sha,c3702346
https://mb.cision.com/Public/19703/3702346/80e4bfbd7b6869c6.pdf
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