TAALERI PLC STOCK EXCHANGE RELEASE 19 JUNE 2019 AT 12:50 PM (EET)
Taaleri Plc's Board of Directors has decided on the establishment of a new share-based incentive scheme for the company's CEO
Taaleri Plc's Board of Directors has decided on the establishment of a new share-based incentive scheme for the company's CEO Robin Lindahl, who started in his position on 1 June 2019. The purpose of the scheme is to link the goals of the shareholders and the CEO to increase the company's value over the long-term, as well as to commit the CEO to implementing the company's strategy and to offer him a competitive incentive scheme based on acquiring, earning and accumulating company shares. In the scheme, the CEO will acquire a minimum of 200,000 euros of company shares.
The share-based incentive scheme is a one-off, five-year scheme, and the earning period is 1 June 2019—15 June 2024. The earning period includes three measuring periods, which commence at the beginning of the earning period and end on 15 September in years 2022, 2023 and 2024.
Any remuneration awarded under the scheme will be based on Taaleri Plc’s total shareholder return (TSR). The remuneration paid will correspond to the value of no more than 249,000 Taaleri Plc shares, including the part paid in cash.
The remuneration will be paid based on the achievement of the TSR targets after the end of each measuring period within approximately three years and in four instalments. The remuneration will be paid partly in the company’s shares and partly in cash. The cash portion aims to cover taxes and tax-related costs arising to the CEO. If the CEO's employment relationship ends before payment of the remuneration, the payment, in principle, will not be paid. Shares paid as remuneration may not be transferred to shareholders during the one-year waiting period.
The CEO must retain ownership of the net number of shares paid to him on the basis of the scheme until his total shareholding in the company corresponds with the value of his gross annual salary. The CEO must retain ownership of this number of shares for the duration of his employment relationship with the company.
The scheme takes into consideration the rules and guidance related to financial sector remuneration in force at the time as well as the general principles related to the company's remuneration schemes.
Board of Directors
Peter Fagernäs, Chairman of the Board of Directors, tel. 358 50 5831
Taaleri in brief
Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's, Finland, main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. In addition, the Group makes investments from its own balance sheet.
At the end of 2018, Taaleri had assets under management totalling EUR 5.7 billion and 5,400 wealth management customers. Taaleri Plc has some 4,100 shareholders. Taaleri’s operations are supervised by the Finnish Financial Supervisory Authority.
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