Koskisen Corporation stock exchange release on 27 June 2024 at 11:45 a.m. EEST
The Board of Directors of Koskisen Corporation has decided on changes to the share-based incentive plan 2022–2026
On 25 April 2022, the Board of Directors of Koskisen Corporation decided on a share-based incentive program 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 Board of Directors of Koskisen Corporation decided on 27 June 2024 to add new participants to the earning period 2024–2026, after which the maximum number of participants will be 25. After the change, the maximum number of shares to be distributed for the earning period is a total of 331.000 gross shares. In addition, the Board of Directors decided to add one participant to the earning period 2022–2024, after which the total number of participants will be 7 participants. After the change, the maximum number of shares to be distributed for the earning period is a total of 156.000 gross shares.
The share-based incentive program for 2022–2026 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. The cash proportion covers the tax cost from the transfer of shares.
For more information:
Pekka Kuusniemi, Chairman of the Board, Koskisen Corporation
tel. +358 50 537 3883
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. We manufacture high-quality and sustainable circular bioeconomy products that store carbon for decades. The Group’s revenue in 2023 was EUR 271 million. Read more: koskisen.com