Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

Talenom's board resolves on two new key employee incentive plans.

Document Cited in Related
Vincent

NORDIC BUSINESS REPORT-February 26, 2020-Talenom's board resolves on two new key employee incentive plans

(C)2020 M2 COMMUNICATIONS http://www.m2.com

Accounting firm Talenom Oyj (HEL:TNOM) annound on Tuesday the resolution by its board of directors to establish two new share-based incentive plans for the company's key employees.

Reportedly, the aim of these plans is to align the objectives of the shareholders and key employees for increasing the value of the company in the long-term, to commit the key employees to the company and to offer them competitive incentive schemes that are based on earning and accumulating shares.

The first plan, Performance Share Plan 2020-2024, consists of three performance periods, covering the calendar years 2020-2022, 2021-2023 and 2022-2024. The board of directors resolves on the plan's performance criteria and targets to be set for each criterion at the beginning of a performance period.

Talenom added that the potential reward based on the plan will be paid party in the company's shares and partly in cash after the end of a performance period. The cash proportion is intended to cover taxes and tax-related expenses arising from the reward to a participant. As a rule, no reward is paid, if the participant's employment or service terminates before the reward payment.

Also, the company's executive board member is obliged to hold at least 50% of the net number of shares paid to the member on the basis of the plan, until the value of the member's shareholding in the company equals to the value of the annual base salary. Such number of shares must be held as long as the membership in the executive board continues.

During the performance...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT