WithSecure Corporation, Stock Exchange Release, 16 December 2022, 14:30 EET
WithSecure Corporation - New incentive plans 2023-2025 for management and key employees of WithSecure Corporation, based on company's share-based long-term incentive schemes
Performance Share Plan (PSP) 2023-2025
In 2020, WithSecure (formerly F-Secure) took into use a share-based long-term incentive scheme, based on which the Board of Directors can decide on annually commencing Performance Share Plan (PSP). Each plan includes a maximum of three-year performance period. The scheme was announced for the first time on 12 February 2020.
The Board of Directors of WithSecure Corporation has decided, based on the PSP scheme, on a new Performance Share Plan for the years 2023-2025.
The new plan, PSP 2023-2025, will commence in 2023 and the performance criteria for this plan will be WithSecure's total shareholder return (TSR).
If all the performance targets set for PSP 2023-2025 are fully achieved, the aggregate maximum number of share rewards to be paid in the first half of 2026 is approximately 4,600,000 shares. This number of shares represents a gross earning, from which the applicable payroll tax is withheld, and the remaining net value is paid in shares to the key employees participating to the plan.
The plan is offered to the management and selected key employees of WithSecure. Approximately maximum of 110 key individuals will become eligible to participate in the plan, based on a decision of the Board of Directors. If the individual's employment with WithSecure terminates before the payment date of the share reward, the individual is not, as a main rule, entitled to any reward based on the plan.
Restricted Share Plan (RSP) 2023-2025
In 2020, WithSecure (formerly F-Secure) took into use a Restricted Share Plan (RSP) as complementary share-based long-term incentive scheme. Board of Directors can decide on annually commencing incentive plans. Each plan includes a maximum of three-year restriction period. The RSP structure is targeted to individually selected key employees of WithSecure Corporation. The scheme was announced for the first time on 29 September 2020.
The Board of Directors of WithSecure Corporation has decided, based on the RSP scheme, on a new Restricted Share Plan for the years 2023-2025.
The aggregate maximum number of shares which may become payable based on RSP 2023-2025 in the first half of 2026 is 1,100,000 shares. The amount of shares represents gross earnings, from which the applicable payroll tax is withheld, and the remaining net value is paid to the participants in shares. If the individual's employment with WithSecure terminates before the payment date of the share reward, the individual is not, as a main rule, entitled to any reward based on the plan.
Contact information:
Laura Viita, Investor Relations Director
WithSecure Corporation
+358 50 487 1044
investor-relations@withsecure.com
