Uponor Corporation Stock exchange release 11 December 2014 09:20 EET
Uponor Board issues incentive plan for key management
The Board of Directors of Uponor Corporation has approved a new Performance Share Plan to be offered to approximately 20—25 key managers of the Group, including the members of the Executive Committee. The purpose of the new plan is to continue aligning the objectives of the management and Uponor shareholders in order to increase the value of the company, boost profitable growth and retain the services of the participants over the longer term. The plan offers key managers a competitive reward plan based on achieving the company’s strategic profitability and growth targets, and earning and accumulating Uponor shares.
The plan has one performance period, covering the calendar years 2015—2017. It offers the participants an opportunity to earn Uponor shares as a reward for achieving performance targets, which the Board has established for the 3-year performance period, mainly based on consolidated three-year cumulative turnover and its three-year EBITDA or EBITDA-based intrinsic value.
The potential reward based on the plan will be paid in 2018, partly in company shares and partly in cash. The cash proportion is intended to cover the taxes and tax-related costs which the recipient incurs due to the reward. No reward will be paid if the participant’s employment or service ends before the reward payment. Should the performance targets be attained in full, the earned reward will correspond to a maximum total of 350,000 Uponor Corporation shares, including the proportion to be paid in cash.
The reward from the plan will be capped if the limits set by the Board of Directors for the share price are reached. The Board recommends that participants continue to hold a considerable portion, a minimum of 50 per cent, of the shares received on the basis of the plan until the value of a participant’s shareholding in Uponor reaches the target level set by the Board.
Uponor Corporation
Board of Directors
For further information, please contact:
Jorma Eloranta, Chair of the Board, jorma.eloranta@kolumbus.fi
Tarmo Anttila, Vice President, Communications, tel. +358 20 129 2852
Uponor Corporation
Tarmo Anttila
Vice President, Communications
tel. +358 (0)20 129 2852
DISTRIBUTION
NASDAQ Helsinki
Media
www.uponor.com
Uponor is a leading supplier of indoor climate and plumbing systems for the residential and commercial building markets in Europe and North America. In Northern Europe, Uponor is also a prominent regional supplier of municipal infrastructure pipe systems. Uponor employs approximately 4,100 people in 30 countries. Uponor Group reported net sales of over EUR 900 million in 2013. Uponor's shares are quoted on the NASDAQ OMX Helsinki Ltd. http://www.uponor.com.