Huhtamäki Oyj's new share-based long-term incentive arrangement
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 11.2.2021 AT 9:15
Huhtamäki Oyj's new share-based long-term incentive arrangement
As part of the long-term incentive and retention program for the key personnel of Huhtamaki, the Board of Directors of Huhtamäki Oyj has decided on a new share-based long-term incentive arrangement (Restricted Share Arrangement) directed to key employees. The aim of the Restricted Share Arrangement is to retain, motivate and reward selected key employees in order to increase the shareholder value in the long term.
The Restricted Share Arrangement consists of individual share plans. The commencement of each plan will be separately decided by the Board of Directors. Each plan comprises of three consecutive calendar years.
Share rewards will be paid in shares of Huhtamäki Oyj. No reward will be paid if the participant's employment or service ends before the payment of the reward. The members of the Global Executive Team shall retain at least 50% of the shares received until the value of their share ownership in Huhtamäki Oyj corresponds to their annual gross base salary. The maximum value of the reward payable to the participants based on the Restricted Share Arrangement is limited by a cap linked to Huhtamäki Oyj’s share price development.
The first share plan within the Restricted Share Arrangement, covering the years 2021-2023, commences as of the beginning of the year 2021. The aggregate maximum number of shares payable based on the first plan is 163,500 shares and possible rewards will be paid in 2023 and 2024. For potential subsequent share plans the aggregate maximum number of shares payable is 60,000 shares per plan.
In addition to the Restricted Share Arrangement, the Company has the Performance Share Arrangement published on March 15, 2010.
For further information, please contact:
Teija Sarajärvi, Executive Vice President, Human Resources and Safety, tel. +358 10 686 7027
Huhtamaki is a key global provider of sustainable packaging solutions for consumers around the world, enabling wellbeing and convenience. Our innovative products protect on-the-go and on-the-shelf food and beverages, ensuring hygiene and safety, and help prevent food waste. We embed sustainability in everything we do. We are committed to achieving carbon neutral production and designing all our products to be recyclable, compostable or reusable by 2030.
We are a participant in the UN Global Compact and as of 2020, we received an MSCI ESG Rating of A, on a scale of AAA ─ CCC. To play our part in managing climate change, we have committed to set science-based targets through the Science Based Targets initiative. Huhtamaki has been awarded the Silver medal by EcoVadis for performance in sustainability.
With 100 years of history and a strong Nordic heritage we operate in 36 countries and 81 sites around the world. Our values Care Dare Deliver guide our decisions and help our team of 18,200 employees make a difference where it matters. Our 2020 net sales totaled EUR 3.3 billion. Huhtamaki Group is headquartered in Espoo, Finland and our parent company, Huhtamäki Oyj, is listed on Nasdaq Helsinki Ltd. Find out more about how we are protecting food, people and the planet on www.huhtamaki.com.
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