Basware Corporation's Board of Directors decided on incentive plan for key personnel
(Thomson Reuters ONE) -
Basware Corporation Stock Exchange Release February 17, 2012 at 17:15
Basware Corporation's Board of Directors decided on incentive plan for key
personnel
The Board of Directors of Basware Corporation has approved a new share-based
incentive plan for the Basware Group key personnel. The aim of the Plan is to
combine the objectives of the shareholders and the key personnel in order to
increase the value of the company, commit the key personnel to the company, and
offer them a competitive reward plan based on shareholding in the company. The
Board of Directors encourages the Basware Executive Team members to hold shares
in the company equaling the value of annual gross base salary.
The system includes three earning periods, calendar years 2012, 2013, and 2014.
The system comprises annual earning periods 2012, 2013, and 2014 and fixed
earning period 2012-2014.
Members of Basware Executive Team may be allocated additional shares without
consideration against shareholding during the earning period 2012-2014.
The Board of Directors decides on the earnings criteria and related targets
separately for each annual earning period at the beginning of the earning
period. The reward for the earning period 2012 is based on Basware Corporation's
net sales. Any reward for the annual earning period 2012 will be paid in
December 2014 partially as shares in the company and partially in cash. The
proportion paid in cash covers the taxes and tax-like charges resulting from the
reward. The target group of the annual earning period 2012 consists of 26
persons including the members of the Basware Executive Team.
The reward for the fixed earning period 2012-2014 is based on Basware
Corporation's earnings per share (EPS). Any reward for the fixed earning period
2012-2014 will be paid during the first quarter of 2015 partially as shares in
the company and partially in cash. The proportion paid in cash covers the taxes
and tax-like charges resulting from the bonus. The target group of the fixed
earning period 2012-2014 includes the members of the Basware Executive Team.
The shares to be allocated at the target level will correspond at the current
share price to the approximate amount of 275.000 Basware Corporation shares
(including also the proportion to be paid in cash) and totalling 412.500 at the
maximum. Should the share price increase during the earnings period the amount
of shares to be allocated will decrease. The maximum amount of shares to be
allocated is 50 percent of the defined target level. The possible shares to be
allocated will consist of own shares held by the company or acquired in public
trading through NASDAQ OMX Helsinki Ltd.
There are employment-related conditions for eligibility for reward payment.
For more information, please contact
Hannu Vaajoensuu, Chairman of the Board of Directors, Basware Corporation
Tel. +358 40 501 8250
Distribution:
NASDAQ OMX Helsinki Oy
Main media
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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: Basware via Thomson Reuters ONE
[HUG#1587163]
Unternehmensinformation / Kurzprofil:
Datum: 17.02.2012 - 16:14 Uhr
Sprache: Deutsch
News-ID 116147
Anzahl Zeichen: 3829
contact information:
Town:
Espoo
Kategorie:
Business News
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