Vaisala’s Board of Directors Resolved on Key Employees’ Performance Share Plan

Date : 02/12/2019 @ 12:30PM
Source : GlobeNewswire Inc.
Stock : (VAIASH)
Quote : 16.9  0.1 (0.60%) @ 4:24PM

Vaisala’s Board of Directors Resolved on Key Employees’ Performance Share Plan

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Vaisala’s Board of Directors Resolved on Key Employees’ Performance Share Plan

Vaisala CorporationStock Exchange ReleaseFebruary 12, 2019 at 2.30 p.m. (EET)

Vaisala’s Board of Directors Resolved on Key Employees’ Performance Share Plan

Vaisala’s Board of Directors has resolved on establishment of a new share-based incentive plan for group’s approximately 45 key persons for 2019–2021. The aim of this long-term plan is to commit key persons to achieving strategic targets and to align objectives of Vaisala’s key persons and shareholders to increase the value of the company in the long term.

A three-year performance period of the plan commences from the beginning of 2019 and potential share reward under the plan will be paid in spring 2022. Performance targets, based on which potential share reward will be paid, are total shareholder return (TSR) of Vaisala’s share as well as operating result (EBIT) adjusted by certain items. Estimated cost for this performance share plan 2019–2021 at target level is around EUR 3 million.

If all the performance targets set for performance share plan 2019–2021 are fully achieved, the aggregate maximum number of shares to be paid is 330,000 Vaisala’s series A shares. This number of shares represents a gross reward, of which payroll tax is deducted and the remaining net value is paid to key persons in shares. A precondition for share reward payment for a key person is that the employment or service relationship of a participant with Vaisala continues until the payment date of the reward.

In addition, Vaisala’s Board of Directors requires, that the President and CEO and each member of the Management Group retains his/her ownership of shares received under this plan until the value of his/her ownership in Vaisala corresponds to at least his/her annual gross base salary.

Additional informationKaarina Muurinen, CFOTel. +358 40 577 5066, kaarina.muurinen@vaisala.com

Distribution Nasdaq Helsinki Key media www.vaisala.com

Vaisala is a global leader in environmental and industrial measurement. Building on over 80 years of experience, Vaisala provides observations for a better world. We are a reliable partner for customers around the world, offering a comprehensive range of innovative observation and measurement products and services. Headquartered in Finland, Vaisala employs approximately 1,850 professionals worldwide and is listed on the Nasdaq Helsinki stock exchange.  www.vaisala.com  www.twitter.com/VaisalaGroup



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