Sampo to lauch a new long-term incentive scheme
(Thomson Reuters ONE) -
SAMPO PLC STOCK EXCHANGE RELEASE 14 September 2011 at 4.45 pm
Sampo to lauch a new long-term incentive scheme
Continuity is emphasized in committing and remunerating Sampo Group's management
and other key employees. Sampo plc's Board of Directors has today decided to
adopt a new long-term incentive scheme 2011:1. The scheme is targeted at Sampo
Group's management and other key employees. Altogether approximately 115 people
are participants in the scheme.
The scheme includes at maximum 4.5 million incentive units of which a minimum of
95 per cent will be allocated during September to October 2011 and a maximum of
5 per cent will be allocated during September 2012. The potential payments shall
be divided for the years 2014-2016 for the units allocated in 2011 and for the
years 2015-2017 for the units possibly allocated in 2012.
The allocation of incentive units shall be based on a combination of the
assessment of the performance of the individual, of the business area and/or
business unit concerned and of the overall results of the relevant Sampo Group
company or of Sampo Group. Also qualitative criteria shall be taken into account
in the assessment.
According to the new scheme, incentive rewards to be paid are based on the price
of Sampo plc's A share on the NASDAQ OMX Helsinki Ltd and the payments shall be
made on condition that the insurance margin and return on capital at risk,
determined in the terms and conditions of the scheme, exceed specified threshold
values.
A deferral rule applies to incentive rewards paid to key employees defined as
risk takers (Sweden, Norway and Denmark) and key employees receiving significant
variable compensation (Finland). According to the deferral rule 60 per cent of
the net incentive rewards will be paid in shares and 40 per cent in cash. These
shares will be subject to disposal restrictions for three years from the date
when the installment was paid.
The terms of the incentive scheme 20011:1 are available at
www.sampo.com/compensation.
The starting price and a theoretical market price for the scheme are available
at the same address on 29 September 2011.
Sampo has today also published the updated Compensation Principles at the
website www.sampo.com/compensation.
SAMPO PLC
Board of Directors
For additional information, please contact:
Jarmo Salonen
Head of Investor Relations and Group Communications
tel. +358 10 516 0030
Maria Silander
Press Officer
tel. +358 10 516 0031
Distribution:
NASDAQ OMX Helsinki
The principal media
Financial Supervisory Authority
www.sampo.com
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Sampo Oyj via Thomson Reuters ONE
[HUG#1546534]
Unternehmensinformation / Kurzprofil:
Datum: 14.09.2011 - 15:45 Uhr
Sprache: Deutsch
News-ID 64453
Anzahl Zeichen: 3589
contact information:
Town:
Helsinki
Kategorie:
Business News
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