OUTOKUMPU OYJ
STOCK EXCHANGE RELEASE
April 27, 2016 at 2.00 pm EET
As part of the long-term incentive programs for key employees in Outokumpu, the Board of Directors has approved the commencement of a Matching Share Plan for years 2016-2020 in order to emphasize shareholder value creation, enforce an ownership culture and to incentivize the achievement of the 2020 vision.
According to the plan, the participants will invest 30–120% of their annual gross base salary into Outokumpu shares by September 30, 2016. The participants shall acquire the shares from the market and follow the applicable insider regulations when acquiring the shares. Outokumpu will match each share acquired by the employee with two gross shares from which applicable taxes will be deducted and the remaining net number of shares will be delivered to the participant. The matching shares will be delivered in four equal installments in the end of 2017, 2018, 2019 and 2020, respectively. In order to receive the matching shares, the participants are required to keep all the shares they acquire until the vesting of the each matching share tranche. The Board of Directors has approved that at the maximum 35 key employees, may participate in the plan. This excludes the CEO whose matching share plan details were announced on December 17, 2015. The maximum number of gross matching shares is 3,000,000 including taxes.
According to the share ownership requirement applied in Outokumpu, the members of the Outokumpu Leadership Team are required to own Outokumpu shares received under incentive programs corresponding to the value of their annual gross base salary. The net shares received from the Matching Share Plan must be used to fulfil this requirement.
For more information:
Investors: Johanna Henttonen, tel. +358 9 421 3804, mobile +358 40 530 0778
Media: Johanna Kaunisto, tel. +358 40 574 9210
Outokumpu Group
Outokumpu is a global leader in stainless steel. We create advanced materials that are efficient, long lasting and recyclable – thus building a world that lasts forever. Stainless steel, invented a century ago, is an ideal material to create lasting solutions in demanding applications from cutlery to bridges, energy and medical equipment: it is 100% recyclable, corrosion-resistant, maintenance-free, durable and hygienic. Outokumpu employs 11,000 professionals in more than 30 countries, with headquarters in Espoo, Finland and shares listed in Nasdaq Helsinki.
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