Verkkokauppa.com resolved on a new matching period under the long-term incentive plan for key employees
Verkkokauppa.com Oyj COMPANY RELEASE 21 December 2018 8.15 am.
The Board of Directors of Verkkokauppa.com Oyj ("Verkkokauppa.com" or the "Company") has on 20 December 2018 resolved on the new matching period under the Company's Matching Share Plan announced in May 2018. The aim of the plan is to align the objectives of the shareholders and the key employees in order to increase the value of the Company in the long-term, to encourage the key employees to personally invest in the Company's shares, to retain the key employees with the Company, and to offer them a competitive reward plan which is based on the acquisition, obtaining and accumulation of the Company's shares.
The Matching Share Plan 2018-2020 comprises of annually commencing three-year's matching periods of which the first commenced in the beginning of 2018. The Board of Directors has on 20 December 2018 resolved on the commencement of the next matching period for years 2019-2021. The prerequisite for receiving the reward on the basis of the plan is that a person participating in the plan allocates the freely transferable Company shares held by him or her or acquires the Company shares up to the number determined by the Board of Directors. Furthermore, the payment of reward is based on the participant's employment or service upon the reward payment.
The rewards for the matching period of 2019-2021 will be paid partly in the Company's shares and partly in cash in 2022. The cash proportion is intended to cover taxes and tax-related costs arising from the reward to the participant. As a rule, no reward will be paid, if a participant's employment or service ends before the reward payment.
The target group of the plan consists of approximately 10 persons, including the members of the Executive Team. The rewards to be paid on the basis of the matching period 2019-2021 correspond to the value of an approximate maximum total of 45,000 Verkkokauppa.com Oyj shares (including also the proportion to be paid in cash).
The Board of Directors
For more information, please contact:
Chairman of the board
Tel. +358 10 309 5555
Certified Adviser Nordea Bank AB (publ), Finnish Branch
Telephone +358 9 5300 6785
Nasdaq Helsinki Ltd
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