Incap’s Board of Directors resolved on a change to the share-based incentive scheme of the CEO
Incap Corporation Stock exchange release 27 April 2022 at 9:00 a.m. (EEST)
Other information disclosed according to the rules of the Exchange
Incap’s Board of Directors resolved on a change to the share-based incentive scheme of the CEO
Incap Corporation’s Board of Directors resolved to implement a long-term share-based incentive scheme for the company’s CEO, Otto Pukk, on 26 May 2020. The earnings period for the CEO’s incentive scheme ended on 31 December 2021. The payment of the reward of the incentive scheme is based on the development of the company’s net EBIT, provided that the CEO is still in a service relationship with the Company at the date of the reward’s payment. Possible reward based on the incentive scheme shall be paid after the company’s Annual General Meeting in 2022 has approved the company’s annual accounts for the financial year 1 January 2021 – 31 December 2021. The shares paid as reward shall not be transferred during a 12-month lock-up period, which begins from the reward payment. The number of the company’s new shares the CEO may earn amounts up to 5,730 new shares of the company.
As the company has in 2020, after deciding on the CEO’s incentive scheme, executed a share issue with shareholders’ pre-emptive subscription rights, the number of the new shares which the CEO may earn through the incentive scheme was resolved to be increased accordingly to 7,640 shares. In addition, as the Board of Directors has proposed to the company’s Annual General Meeting on 29 April 2022 to resolve on a share split in which new company shares would be issued to the shareholders without payment in proportion to their holdings on the record date of the share split so that 4 new shares would be issued for each share, the number of the shares the CEO may earn through the incentive scheme was resolved to be increased, subject to approval of the Annual General Meeting of the share split and subscribing shares after the share split is completed, altogether to 38,200 new company shares.
For the execution of the amendment in the incentive scheme, the company’s Board of Directors has resolved on the directed share issue to the CEO of the company without consideration based on the authorisation granted to the company’s Board of Directors on the share issues by the Annual General Meeting of the company on 27 April 2021. The shares are issued subject to meeting the conditions of the incentive scheme.
On the date of this stock exchange release, the company has 5,849,327 shares.
Board of Directors
Ville Vuori, Chairman of the Board of Directors, +358 (0)40 036 9438
Nasdaq Helsinki Ltd
INCAP IN BRIEF
Incap Corporation is a trusted partner and full service provider in Electronics Manufacturing Services. As a global EMS company Incap supports customers ranging from large multinationals and mid-sized companies to small start-ups in their complete manufacturing value chain. Incap offers state-of-the-art technology backed up by an entrepreneurial culture and highly qualified personnel. The company has operations in Finland, Estonia, India, Slovakia, the UK and Hong Kong and employs approximately 2,500 people. Incap’s share has been listed on Nasdaq Helsinki Ltd stock exchange since 1997.
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