Tikkurila's Board of Directors decided on a share-based commitment and incentive plan
(Thomson Reuters ONE) -
Tikkurila Oyj
Stock Exchange Release
February 16, 2012 at 9:15 a.m. (CET+1)
In order to commit and motivate key personnel, the Board of Directors of
Tikkurila Oyj has decided on a new share-based plan.
The new share-based plan includes three performance periods: financial years
2012-2014, 2013-2015 and 2014-2016. The Board of Directors of the company will
decide on the performance criteria of the plan and their targets at the
beginning of each performance period. The prerequisite for participation in the
plan and receipt of reward provides that a key employee purchases Tikkurila's
shares from the market in accordance with the terms and conditions of the plan.
The potential reward from the performance period 2012-2014 is based on the
Tikkurila Group's Operative Earnings Before Interest, Taxes, Depreciation and
Amortization (EBITDA) and Net Debt. Furthermore, a key employee will have a
possibility to earn a reward, which is tied to the validity of employment or
service relationship. The amount of rewards depends on the number of purchased
shares and the fulfillment of the performance criteria. Rewards will be paid in
2015 partly in the company's shares and partly in cash. No reward will be paid
if a key employee's employment or service contract terminates before the reward
payment.
The target group of the share-based plan consists of 10 key employees. The
rewards to be paid on the basis of the performance period 2012-2014 correspond
to the value of a maximum total of approximately 220,000 Tikkurila Oyj shares
(including also the proportion to be paid in cash).
Tikkurila Oyj
Board of Directors
For further information, please contact:
Tikkurila Oyj
Jari Paasikivi, Chairman of the Board, mobile +358 500 530 375
For 150 years already, Tikkurila has provided consumers and professionals with
user-friendly and sustainable solutions for surface protection and decoration.
Tikkurila wants to be the leading paint company in the Nordic area as well as in
Russia and other selected Eastern European countries. - Tikkurila inspires you
to color your life.
www.tikkurilagroup.com
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Source: Tikkurila Oyj via Thomson Reuters ONE
[HUG#1586442]
Unternehmensinformation / Kurzprofil:
Datum: 16.02.2012 - 08:16 Uhr
Sprache: Deutsch
News-ID 115397
Anzahl Zeichen: 2978
contact information:
Town:
Vantaa
Kategorie:
Business News
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"Tikkurila's Board of Directors decided on a share-based commitment and incentive plan"
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