Helsinki, 2015-03-12 12:50 CET (GLOBE NEWSWIRE) --
DIGIA PLC STOCK EXCHANGE RELEASE 12.3.2015 AT 1.50 PM
NEW SHARE INCENTIVE SCHEME FOR DIGIA'S MANAGEMENT
Digia's Board of Directors has decided to launch a new share incentive scheme for the President and CEO and other top management. According to Board’s decision there will be two separate bonus schemes, one for the domestic business and another for the Qt business. Schemes are intended to combine the interests of the shareholders and company's management for the increase of the company's value. Furthermore, the schemes target to have the management committed to the company and offer them a competitive incentive scheme based on share ownership. New schemes will replace the earlier decided share bonus scheme intended to run until 2016.
Domestic scheme will cover three earning periods, which are years 2015-2017. Earning criteria will be the earning per share (EPS) value and net sales during the respective earning period as to be specified by the Board annually in more detail. Under the scheme the CEO and other domestic key employees are jointly entitled to a maximum total bonus equal to the value of 115,000 Digia Plc shares for each earning period respectively. All bonuses under the scheme will be paid in a 50/50 combination of shares and cash. The cash payment is used primarily to cover taxes and other applicable fees and levies incurred from the bonus payment.
Qt-scheme has one earning period reaching until March 2018. The potential reward from the scheme will be based on the total shareholder return (TSR) of the Digia share at the end of the earning period. Should the established targets for the Digia share TSR be reached in full, the CEO and other Qt key employees will jointly be entitled to a maximum total bonus equal to the value of 985,000 Digia Plc shares at the end of the earning period. All bonuses under the scheme will be paid in combination of shares and cash. In cash will be paid an amount required to cover taxes and other applicable fees and levies incurred from the bonus payment, whereafter the remaining part of the bonus will be paid to the recipient in shares.
Terms of said schemes are discussed in more detail in the Statement on Digia Management Emoluments available at www.digia.com.
Company and Evli Alexander Management have in place an agreement on coordination of company's share bonus schemes and management and payment of thereto related shares in accordance with their terms.
Digia Plc
Board of Directors
For further information:
President and CEO Juha Varelius, tel. +358 10 313 3000
Distribution
NASDAQ OMX Helsinki
Key media