Koskisen Corporation stock exchange release, 14 April 2023 at 9:15 a.m. EEST
Koskisen’s long term share based incentive program for key personnel
On 25 April 2022, the Board of Directors of Koskisen Corporation decided on a share based incentive program in place for its key employees for the years 2022 to 2026. The objective of the incentive program is to align goals of the company’s shareholders and key employees for increasing value of the company in a long term as well as to engage the key employees to the company and offer them a competitive incentive program based on earning and the accumulation of shares.
The incentive program consists of three three year earning periods, which are from 2022 to 2024, from 2023 to 2025 and from 2024 to 2026. Employees eligible for the incentive program as well as the earning criteria and targets, which can be based on financial performance measures, strategy or other targets, are determined by the Board of Directors for each earning period. Bonuses paid under the incentive program are also determined by the Board of Directors for each participating employee and are paid as shares and as cash in order for the employee receiving incentive payments to pay associated.. The Board of Directors has the right to decide whether the bonus will be paid as cash in full or in part.
A share based incentive program for 2023-2025
On 13 April 2023, the Board of Directors resolved on the criteria and targets as well as the key employees eligible for the incentive program for the second earning period. The members of the Group Executive Board, a total of seven people, are currently entitled to participate in the long-term share based incentive program.
In the share based incentive program, the potential receipt and amount of the reward is based on the accumulated EBITDA from 1 January 2023 to 31 December 2025 and the person's continued employment with the company.
During the second earning period of the incentive program, the key employees eligible for the incentive program may earn a maximum of 215,000 shares in total, or a cash amount corresponding to their value before taxes are deducted if the bonus is decided to be paid in cash.
For more information:
Juha Vanhainen, Chairman of the Board, Koskisen Corporation
tel. +358 40 541 8178
Koskisen is an international wood processing specialist with more than a century of experience and known for its agility and ability to listen to the customer. We utilise our valuable wood raw material as thoroughly as possible, up to the last particle of sawdust. At the same time, we bring the best carbon narrative to life: We manufacture high-quality and sustainable products that store carbon for decades. The Group’s revenue in 2022 was EUR 318 million. Read more: koskisen.com