The plans 2019-2021 within UPM share incentive programmes
February 14 2019 - 2:30AM
UPM-Kymmene Corporation
Other information disclosed according to
the rules of the Exchange 14 February 2019 at
09:30 EET
The plans 2019-2021 within UPM
share incentive programmes
UPM's Board of Directors has approved the
commencement of new plans for the period 2019-2021 within the
company's two long-term share incentive programmes: the Performance
Share Plan and the Deferred Bonus Plan.
The long-term share incentive programmes consist
of annually commencing new plans subject to the approval of the
Board of Directors of UPM in each case.
The earning criterion for the earning period
2019-2021 of the Performance Share Plan is the total shareholder
return during 2019-2021.
The earning criteria for the Deferred Bonus Plan
are based on the Group and each business area's EBITDA. The plan
for the period 2019-2021 consists of a one-year earning period
(2019) and a two-year restriction period following thereafter
(2020-2021).
The share incentive plans for the period 2019-2021
cover in total approximately 430 participants. In case all the set
performance targets are met in full, the estimated total maximum
number of shares to be delivered under these plans is approximately
1,200,000 shares. The above indicated estimate of the maximum share
rewards represents the gross value of the rewards of which the
applicable taxes will be deducted before the shares are delivered
to the participants.
Share delivery will be executed by using already
existing shares and the plans, therefore, have no dilutive effect.
Besides the attainment of the performance criteria the share reward
under both plans is subject to the continuation of the employment.
The share rewards earned on the basis of the plans for the period
2019-2021 will be delivered in 2022.
For further information, please
contact:
Riitta Savonlahti, Executive Vice President, Human Resources, tel.
+358 204 15 0048
UPM-Kymmene Corporation
Pirkko Harrela
Executive Vice President, Stakeholder Relations
UPM, Media
Relations
Mon-Fri 9:00-16:00 EET
tel. +358 40 588 3284
media@upm.com
UPM
We deliver renewable and responsible solutions and innovate for a
future beyond fossils across six business areas: UPM Biorefining,
UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication
Papers and UPM Plywood. We employ around 19,000 people worldwide
and our annual sales are approximately EUR 10.5 billion. Our shares
are listed on Nasdaq Helsinki Ltd. UPM Biofore - Beyond fossils.
www.upm.com
Follow UPM on Twitter | LinkedIn | Facebook |
YouTube | Instagram | #UPM #biofore #beyondfossils
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: UPM via Globenewswire
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