The Board of Directors of Componenta Corporation has approved a new share-based incentive plan for the Group key personnel. The aim of the Plan is to combine the objectives of the shareholders and the key personnel in order to increase the value of the Company, to commit the key personnel to the Company, and to offer them a competitive reward plan based on holding the Company shares.
The Plan includes one earning period, calendar year 2014. The earnings criterion of the earning period 2014 is the Componenta Group´s Result after Financial Items.
The potential reward from the earning period 2014 will be paid partly in the Company’s shares and partly in cash. The proportion to be paid in cash is intended to cover taxes and tax-related costs arising from the reward to the key personnel. The shares cannot be transferred during an approximate two-year restriction period. If a key employee’s employment or service ends during the restriction period, the key employee must gratuitously return the shares given as reward to the Company.
Approximately 20 people belong to the target group of the Plan. The rewards to be paid on the basis of the earning period 2014 will correspond to the value of a maximum total of 400,000 Componenta Corporation shares (including also the proportion to be paid in cash).
Helsinki, 17 February 2014
President and CEO
For further information, please contact:
President and CEO
tel. +358 10 403 2200
Componenta is a metal sector company with international operations and production plants located in Finland, Turkey, the Netherlands and Sweden. The net sales of Componenta were EUR 511 million in 2013 and its share is listed on the NASDAQ OMX Helsinki. The Group employs approx. 4,400 people. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers, who are manufacturers of vehicles, machines and equipment.
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