New plan period in the long-term incentive scheme directed to Aspocomp’s management
July 18 2024 - 1:25AM
UK Regulatory
New plan period in the long-term incentive scheme directed to
Aspocomp’s management
Aspocomp Group Plc, Stock Exchange Release, July 18, 2024, at
8:25 a.m. Finnish time
The Board of Directors of Aspocomp Group Plc has approved a new
performance period covering the years 2024–2026 within the
share-based long-term incentive scheme. The Performance Share Plan
(also “PSP”) is part of the existing long-term incentive scheme
structure, and it is aimed at the company’s top management and
selected key employees.
Aspocomp Group originally announced the establishment of the
long-term incentive scheme with a stock exchange release issued on
July 20, 2022.
The next plan within the PSP structure, PSP 2024–2026, commences as
of the beginning of 2024 and the share rewards potentially earned
thereunder will be paid during first half of 2027. The payment of
the rewards is conditional on the achievement of the performance
targets set by the Board of Directors for the plan.
The performance measures based on which the potential share rewards
under PSP 2024–2026 will be paid are cumulative EBIT and the total
shareholder return of Aspocomp’s share (absolute TSR).
The maximum number of employees eligible to participate in the PSP
2024–2026 is 20, including the members of Aspocomp’s Management
Team.
If all the performance targets set for PSP 2024–2026 are fully
achieved, the aggregate maximum number of shares payable as a
reward based on this plan is 200,000 shares (referring to gross
earning before the withholding of the applicable payroll tax).
The maximum value of the rewards payable to the participants based
on PSP PSP 2024–2026 is limited by a cap which is linked to
Aspocomp’s share price development.
Aspocomp applies a share ownership recommendation to the members of
the company’s Management Team. According to this recommendation
each member of Aspocomp’s Management Team is expected to retain in
his/her ownership at least half of the shares received under the
share-based incentive plans of the company until the value of
his/her share ownership in the company in case of the President and
CEO corresponds to at least the CEO’s annual gross base salary and
in case of the other members of the Management Team to half of the
individual’s annual gross base salary.
For further information, please contact Manu Skyttä, President and
CEO,
tel. +358 400 999 822, manu.skytta(at)aspocomp.com.
ASPOCOMP GROUP PLC
Manu Skyttä
President and CEO
Aspocomp – heart of your technology
A printed circuit board (PCB) is used for electrical
interconnection and as a component assembly platform in electronic
devices. Aspocomp provides PCB technology design, testing and
logistics services over the entire lifecycle of a product. The
company’s own production and extensive international partner
network guarantee cost-effectiveness and reliable deliveries.
Aspocomp’s customers are companies that design and manufacture
telecommunication systems and equipment, automotive and industrial
electronics, and systems for testing semiconductor components for
security technology. The company has customers around the world and
most of its net sales are generated by exports.
Aspocomp is headquartered in Espoo and its plant is in Oulu, one of
Finland’s major technology hubs.
www.aspocomp.com
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