MARTELA CORPORATION RELEASE 15.12.2016 at 11:00 a.m.
THE BOARD OF DIRECTORS OF MARTELA CORPORATION RESOLVED ON KEY EMPLOYEE INCENTIVE PLAN
The Board of Directors of Martela Corporation has resolved to establish a new share-based incentive plan directed to the Group key employees. The aim of the plan is to combine the objectives of the shareholders and the key employees in order to increase the value of the Company in the long-term, to commit the key employees to implement the Company’s strategy, and to offer them a competitive reward plan based on earning and accumulating the Company’s shares.
The performance share plan includes two two-year performance periods, calendar years 2017—2018 and 2019—2020. The Board of Directors of the Company will resolve on the plan’s performance criteria and on the required performance levels for each criterion at the beginning of a performance period.
During the performance period 2017—2018, the target group of the Plan includes the members of the Group’s Management Team. The potential reward of the plan from the performance period 2017—2018 will be based on the Group´s Earnings before Interest and Taxes (EBIT). The rewards to be paid on the basis of the performance period 2017—2018 correspond to an approximate maximum total of 100,000 Martela Corporation A shares including also the proportion to be paid in cash.
The potential reward from the performance period 2017—2018 will be paid partly in Martela shares and partly in cash in 2019. The cash proportion is intended to cover taxes and tax-related costs arising from the reward to a key employee. As a rule, no reward will be paid, if a key employee´s employment or service ends before the reward payment. The shares paid as reward may not be transferred during an approximate one-year restriction period established for the shares. For shares earned from the performance period 2017—2018, the restriction period will end on 30 April 2020.
A member of the Group’s Management Team must hold fifty (50) per cent of the net shares paid on the basis of the entire plan, until his or her shareholding in the Company in total equals the value of his or her gross annual salary. Such number of shares must be held as long as his or her employment or service in a company belonging to the Group continues.
Martela Corporation
The Board of Directors
Further Information: Heikki Martela, Chairman of the Board, Tel. +358 10 345 50
Distribution:
Nasdaq Helsinki Ltd
Main news media
www.martela.com
Our strategic direction is defined by our mission “Better working” and our vision “People-centric workplaces”. Martela provides people centric workplaces where the users and their wellbeing are in the core. We will focus on the Nordic countries, as the Nordic countries are forerunner in hybrid working environments with common open work culture background and needs.
