Kemira establishes a new share-based incentive plan for the strategic management members
(Thomson Reuters ONE) -
Kemira Oyj
Stock exchange release
March 19, 2012 at 6.45 pm (CET+1)
The Kemira Board of Directors has decided to establish a new share-based
incentive plan that follows already terminated 2009 - 2011 plan aimed at the
strategic management members for the years 2012 - 2014, as part of the company's
incentive and commitment schemes. The delivery of share rewards within the plan
is subject to the achievement of the performance targets set by the Board of
Directors, which include both internal and external performance targets. The
internal target setting is divided into three one-year performance periods:
2012, 2013, and 2014. Payment depends on achievement of the set intrinsic value
targets calculated from the development of EBITDA and the development of the net
debt. The program also includes a three-year external goal, which is tied to the
relative total shareholder return (TSR) performance during 2012 - 2014. As a
guiding principle, reward will only be paid based on excellent performance.
The value of the aggregate reward paid out in the course of the three-year plan
may not exceed 120% of CEO's and 100% of the other participants' gross salary
for the same period. If the performance targets are achieved entirely, the
maximum gross earning during the three-year plan is expected to be approximately
900,000 Kemira shares. The applicable taxes will be deducted from the gross
earning and the remaining net value is delivered to the participants in Kemira
shares.
Shares earned through the plan must be held for a minimum of two years following
each payment. In addition, members of the Management Board must retain fifty per
cent of the shares obtained under the plan until their ownership of Kemira
shares based on shares obtained through the share-based incentive programs of
Kemira has reached a share ownership level which in value equals at least their
gross annual salary for as long as they remain participants in the plan.
The shares transferable under the plan comprise treasury shares or Kemira Oyj
shares available in public trading.
In addition to the share-based incentive plan aimed at the strategic management
members, Kemira has a share-based incentive plan aimed at other key personnel,
in which members of the strategic management will not participate.
The share-based incentive plan aims to align the goals of shareholders and
strategic management in order to increase the value of the company, motivate
strategic management, and provide competitive shareholder-based incentives.
For more information, please contact
Kemira Oyj
Jukka Hakkila, Group General Counsel
+358 10 862 1690
Tero Huovinen, Director, Investor Relations
+358 10 862 1980
Kemira is a global two billion euro water chemistry company that is focused on
serving customers in water-intensive industries. The company offers water
quality and quantity management that improves customers' energy, water, and raw
material efficiency. Kemira's vision is to be a leading water chemistry company.
www.kemira.com
www.waterfootprintkemira.com
Link to the release (.pdf):
http://hugin.info/3008/R/1595540/502436.pdf
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(i) the releases contained herein are protected by copyright and
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originality of the information contained therein.
Source: Kemira Oyj via Thomson Reuters ONE
[HUG#1595540]
Unternehmensinformation / Kurzprofil:
Datum: 19.03.2012 - 17:45 Uhr
Sprache: Deutsch
News-ID 126180
Anzahl Zeichen: 4072
contact information:
Town:
Helsinki
Kategorie:
Business News
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"Kemira establishes a new share-based incentive plan for the strategic management members"
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