STOCK EXCHANGE RELEASE
The Board of Directors of
The Board of Directors of the Company determines the earnings criteria of the programs as well as the targets to be set for management at the beginning of each earnings period. The potential reward for the earnings period is based on the achievement of the pre-set financial targets of the Group, sustainability targets and the individual target level goals set for each key employee. The reward shall be paid out after the end of the relevant earnings period partly in the Company's shares and partly in cash. The cash proportion is aimed to cover taxes and tax-related costs arising from the reward to the key employee. If the employment or the service relationship of the key employee terminates prior to the payment of the reward, the accrued reward shall generally not be paid out.
The key person or a controlled entity of the key person are not entitled to sell the shares received through the incentive program during the employment or the service relationship, to the extent the value of the total share ownership in the Company of the key person and his or her controlled entity would fall below the amount corresponding to the fixed annual gross salary of the person in question.
The new performance period of the share-based incentive program applies to seven (7) key persons. Share awards based on the new earnings period equal to a maximum total value of approximately 70,000 United Bankers shares. The total value of the program, estimated based on the volume weighted average share price on the trading day preceding this release, is approximately
The share-based incentive program is not expected to have a significant effect on the price of the Company's share. The program will enable the Company to meet regulatory requirements for management remuneration. At the same time, the program binds the long-term goals of the management and the Company's other shareholders together.
Board of Directors
Additional information:
Email: johan.linder@unitedbankers.fi
Telephone: +358 400 603 830, +358 9 25 380 221
United Bankers in brief:
DISTRIBUTION:
Nasdaq Helsinki
Main media
www.unitedbankers.fi
https://news.cision.com/united-bankers-oyj/r/united-bankers-plc-s-board-of-directors-resolved-on-a-new-performance-period-for-the-management-s-sh,c3914012
https://mb.cision.com/Public/19703/3914012/b87b6de2bf9ebc64.pdf
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