The Board of Directors of KONE decided on a new option plan
| Source:KONE Oyj
KONE Corporation, stock exchange release, December 20, 2013 at 12.30 p.m. EET
KONE Corporation's Board of Directors decided at its meeting on December
20, 2013 to grant stock option rights to approximately 530 employees of its
global organization based on the authorization received from the shareholders'
meeting on March 1, 2010. The stock options are granted in order to encourage
key personnel for long-term efforts to grow shareholder value, and to increase
their commitment to the company by offering them an internationally competitive
incentive program. The company's Board Members, President and CEO, Executive
Board Members and other key personnel covered by KONE's share-based incentive
programs other than option programs are not included in the option plan.
The stock options are to be marked with the symbol 2014 and a maximum total of
1,500,000 options will be granted. Each stock option entitles its holder to
subscribe for one (1) new or an existing company's own class B KONE share. The
class B shares for which these stock options can be exchanged constitute no more
than 0.3 % of the company's total number of shares. The share subscription
period for the stock options 2014 will be April 1, 2016 - April 30, 2018. The
share subscription period begins only if the financial performance of the KONE
Group for the financial years 2014-2015 based on the total consideration of the
Board of Directors is equal to or better than the average performance of the key
competitors of KONE. If the above-mentioned prerequisite does not fulfill, the
stock options expire based on the consideration and in the extent and manner
decided by the Board of Directors and the terms of the stock options. The share
subscription price for the stock option 31.80 euros per share and is further
reduced in situations mentioned in the terms, for example with dividends
distributed before the subscription of the shares.
The terms of the Stock Option Plan 2014 are included in their entirety as an
attachment and they are also available on KONE's website.
Additional information on KONE's compensation systems is available in the
"Investors - Corporate Governance" section on KONE's website at
For further information, please contact:
Jukka Ala-Mello, Secretary to the Board, tel. +358 (0)204 75 4226
Secretary to the Board
Executive Vice President
Marketing & Communications
KONE is one of the global leaders in the elevator and escalator industry. The
company has been committed to understanding the needs of its customers for the
past century, providing industry-leading elevators, escalators and automatic
building doors as well as innovative solutions for modernization and
maintenance. The company's objective is to offer the best People Flow(TM)
experience by developing and delivering solutions that enable people to move
smoothly, safely, comfortably and without waiting in buildings in an
increasingly urbanizing environment. In 2012, KONE had annual net sales of EUR
6.3 billion and approximately 40,000 employees. KONE class B shares are listed
on the NASDAQ OMX Helsinki Ltd in Finland.
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