Atria Plc will end its share-based incentive programme and replace it with a new long-term reward programme
The Atria Plc Board of Directors has decided to end the share-based incentive programme for Atria Group’s key persons. The system is no longer in use in 2012. The incentive programme was launched in 2007 and reported in the company announcement of 28 June 2007.
Incentives from the share-based incentive programme were paid partly in Series-A shares and partly through cash payments. The cash payments covered the taxes and similar costs created by the incentives. In total, 38,540 Series-A treasury shares held by the company were transferred free of charge to the company’s key persons in the incentive programme. Of the shares transferred, 4,750 in all have been returned to the company.
The new long-term reward programme aimed at the group’s key persons has three 12-month periods; 2012, 2013, and 2014. The full earning period for the programme ends on 31 December 2014. The amount of the reward earned from an earning period shall be determined on the basis of reaching of established targets after the end of the earning period. The plan offers an opportunity to earn cash rewards for reaching targets established for the relevant earning period. Any profit from the programme for the full earning period will be based on the group’s earnings per share (EPS). Cash rewards payable in the programme throughout the course of its earning period, between 2012 and 2014, are capped at 4.5 million euros. The new long-term reward programme is aimed at 40 key persons of Atria Group.
For more information, please contact Mr Juha Gröhn, CEO, at tel. +358 400 684 224.
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