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Tieto announces resolution by board on two share-based incentive plans for key employees.

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NORDIC BUSINESS REPORT-January 17, 2019-Tieto announces resolution by board on two share-based incentive plans for key employees

(C)2019 M2 COMMUNICATIONS http://www.m2.com

Tieto Oyj (HEL:TIETO), a software and service company providing IT and product engineering services, announced on Wednesday the approval by its board of directors of two new share-based incentive plans for key employees of Tieto and its subsidiaries, a Performance Share Plan 2019-2021 and a Restricted Share Plan 2019-2021.

Reportedly, the aim of these plans is to align the objectives of shareholders and key employees in order to increase the value of the company in the long-term. Tieto will nominate approximately 250 key employees, including Tieto's leadership team, to the plans.

According to the company, the potential rewards from these new incentive plans will be paid partly in the company's shares and partly in cash in 2022. The cash proportion is intended to cover taxes and tax-related costs arising from the reward. As a rule, no reward will be paid, if a participant's employment or service ends before the reward payment.

Tieto's board anticipates that share rewards to be delivered to the participants under the plan will consist of shares to be acquired from the market. Thus, no new shares will be issued in connection with the plan...

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