Kesko's share-based commitment and incentive scheme comprises three share-based plans. The PSP and RSP plans, which have been part of the scheme since 2017, were first communicated in a stock exchange release on
Kesko Corporation's Board of Directors has decided that the target group for the PSP 2024-2027 will comprise approximately 60 key members of Kesko's management. The Board decided to set the development of Kesko Group's comparable tax-free sales (%), Kesko Group's comparable return on capital employed (ROCE, %), the absolute total shareholder return (TSR, %) of a Kesko B share, and a target measuring Kesko's sustainability, as the performance criteria for the 2024 calendar year. The shares will be paid to the recipients after the financial results release for the 2025 financial year, in
Kesko Corporation's Board of Directors has decided that the target group for the Key Personnel Share Plan (KPSP) 2024 will comprise some 160 Kesko key persons specified separately. The KPSP has a one-year performance period, the criteria of which comprise indicators related to Kesko's profitability and the profitability, growth and capital efficiency of the participant's area of responsibility, and Kesko's share performance, targets measuring sustainability and other participants' personal targets. The one-year performance period is followed by a two-year commitment period, after which shares are paid to the recipients after the financial results release for the 2026 financial year, in
Kesko Corporation's Board of Directors has also decided on initiating a RSP plan for 2024-2026. The plan has a three-year commitment period, after which the potentially granted share awards for an individual plan will be paid to the participants in Kesko B shares, provided that their employment or service relationships with
At its discretion, the Board may decide not to pay a share award or to recover an award that has already been paid, if the recipient has been found guilty of malpractice or an action in breach of Kesko's ethical or responsibility principles or guidance that, as a whole, cannot be considered insignificant, or if there are weighty grounds for assuming that the recipient is guilty of such acts.
The amount of share award paid to a share plan participant in a single year must not exceed the maximum amount separately set by the Board of Directors.
Kesko applies a share ownership recommendation to the members of Kesko's Group Management Board. According to the recommendation, each Group Management Board member shall maintain a holding of at least fifty per cent of the net shares they have received under the company's share-based compensation scheme until their holding of Kesko shares corresponds to at least four times their fixed gross annual salary.
Further information is available from Matti Mettälä, Executive Vice President, tel. +358 105 322 200.
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https://news.cision.com/k-ryhma/r/kesko-s-share-based-commitment-and-incentive-plans-for-2024-2027,c3917702
https://mb.cision.com/Main/13061/3917702/2569434.pdf
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