Alma Media's board decides on new plan periods within the share-based long-term incentive schemes for key employees.
NORDIC BUSINESS REPORT-February 17, 2020-Alma Media's board decides on new plan periods within the share-based long-term incentive schemes for key employees
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Alma Media Oyj (HEL:ALMA), a dynamic digital service business and media company, announced on Friday the decision by its board of directors on a new plan period in the share-based long-term incentive scheme of the company's top management.
Also, at the same time, the board has decided on a new plan period in the share-based long-term incentive scheme for the other key personnel of the company. These new plan structures were established and announced originally in December 2018.
According to Alma Media, the objective of both share-based incentive schemes is to align the interests of the management and other key employees with those of the company's shareholders by creating a long-term equity interest for the plan participants and, thus, to promote share value creation in the long term as well as to drive performance culture, to retain critical key resources and to offer them with competitive compensation for excellent performance in the company.
In the new plan period under the top management matching share plan (MSP 2020), participants will receive two matching shares for each invested share free of charge after a three-year holding period. If all the eligible individuals participate in MSP 2020 by making the required share investment, the maximum aggregate amount of matching shares to be delivered based on the fixed matching ratio is 130,000 shares (representing a gross reward from which the applicable payroll tax is withheld and the remaining net value is paid to the participants in shares). The fixed matching shares will be delivered in the spring 2023.
In MSP 2020 the potential performance-based share rewards will be delivered to the participants after the three-year performance period in the spring 2023 provided that the performance targets set by the board of directors for the plan are achieved.
The performance targets applied to MSP 2020 are the relative total shareholder return of Alma Media's share (TSR), the growth of Alma Media's digital business operations and Alma Media's earnings per share (EPS). If the performance targets set by the board of directors are achieved in full, the participant will receive in total four performance-based matching shares for each invested share free of charge. In that case, if all the eligible...
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