Suominen Corporation's stock exchange release on January 27, 2025 at 3:00 p.m. (EET)
Based on the existing share-based Long Term Incentive Plan for management and key employees, communicated as a stock exchange release on February 6, 2024, the Board of Directors of Suominen Corporation has decided on the commencement of a new plan period covering the years 2025-2027.
The purpose of the plan is to align the interests of the company's shareholders and key employees to increase the company's value in the long-term, to commit key employees to implement the company's strategy, objectives and long-term interest, and to reward them for high performance.
The performance criteria of the performance period 2025-2027 are tied to Absolute Total Shareholder Return (weight 40%) covering the years 2025-2027, Relative Total Shareholder Return (weight 40%) covering the years 2025-2027, and operative performance and sustainability goal (weight 20%) covering the year 2025 and measuring the company's target to improve its raw material efficiency. The potential rewards from the plan will be paid after the end of the performance period.
The value of the rewards to be paid on the basis of the plan corresponds to a maximum total of 1,375,431 shares of Suominen, including also the proportion to be paid in cash. The target group in the performance period 2025-2027 consists of 28 key employees, including the President & CEO and other members of the Executive Management Team.
The potential reward will be paid partly in Suominen's shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the key employee. As a rule, no reward will be paid if the key employee's employment or director contract terminates before the reward payment.
The Executive Management Team member must hold 50% of the received shares until the value of the Executive Management Team member's total shareholding in Suominen equals to 50% of the member's annual gross salary for the calendar year preceding the payment of the reward. Respectively, the President & CEO must hold 50% of the received shares until the value of the President & CEO's total shareholding in Suominen equals to the value of the President & CEO's annual gross salary for the calendar year preceding the payment of the reward. Such number of Suominen shares must be held as long as the membership in the Executive Management Team or the position as the President & CEO continues.
SUOMINEN CORPORATION
The Board of Directors
For more information, please contact:
Tommi Björnman, President & CEO, Suominen Corporation
Interview requests: Minna Rouru, Chief People & Communications Officer, tel. +358 40 526 1975
Suominen manufactures nonwovens as roll goods for wipes and other applications. Our vision is to be the frontrunner for nonwovens innovation and sustainability. The end products made of Suominen's nonwovens are present in people's daily life worldwide. Suominen's net sales in 2023 were EUR 450.9 million and we have nearly 700 professionals working in Europe and in the Americas. Suominen's shares are listed on Nasdaq Helsinki. Read more at www.suominen.fi.
Distribution:
Nasdaq Helsinki Ltd.
Key media
www.suominen.fi
