7.10.2020 | Company Announcement / Press release
New Long-Term Incentive Plan for Keliber’s Key Personnel
The Board of Directors of Keliber has resolved on launching a long-term incentive plan for the Keliber Group’s key personnel. Long-Term Incentive Plan 2020–2026 offers the key personnel an opportunity to earn Keliber shares as a reward for achieving targets set by the Board.
The Long-Term Incentive Plan consists of three performance periods; 2020–2022, 2020–2024 and 2020–2026, with performance targets set by the Board based on the company’s Project Plan.
The net rewards earned form the Long-Term Incentive Plan are paid as Keliber shares in two instalments in 2023–2028, with an intention to build long-term shareholding among the company’s key personnel. The reward shares paid from the Long-Term Incentive Plan cannot be sold without the company’s permission before 1 January 2026, ensuring long-term shareholder alignment and continuous motivation towards long-term shareholder value creation.
The shares needed for the reward payments will be transferred or issued by the company by virtue of the authorization from the General Meeting of Shareholders. The Board is also entitled to decide that the rewards are fully or partly paid in cash.
The Long-Term Incentive Plan has a reward cap. The rewards paid from the company’s long-term and short-term incentives during a calendar year cannot exceed 100% of a management team member’s annual base salary and 70% of other key employee’s annual base salary. In case the reward cap is reached, the rewards to be paid from Long-Term incentive Plan will be reduced.
7.10.2020 / Keliber Oy