UPM-Kymmene Corporation Stock Exchange Release (Other information disclosed according to the rules of the Exchange) 18 February 2025 at 17:15 EET
HELSINKI, Finland, Feb. 18, 2025 /PRNewswire/ -- UPM's Board of Directors has approved the commencement of a new plan for the period 2025-2027 within the Performance Share Arrangement
UPM's Board of Directors has approved the commencement of a new plan for the period 2025-2027 within the Performance Share Arrangement.
The Performance Share Arrangement consists of annually commencing new plans subject to the approval of the Board of Directors of UPM in each case.
The Performance Share Arrangement is targeted at the President and CEO, Group Executive Team members and other selected members of the senior management.
The earning criteria for the earning period 2025-2027 of the Performance Share Arrangement are the total shareholder return and selected sustainability performance measures during 2025-2027. Sustainability measures comprise the reduction of fossil CO2 emissions from UPM's on-site combustion and purchased energy, the achievement of a net positive impact on biodiversity in the Company's own forests in Finland and the achievement of gender pay equity globally.
The plan for the period 2025-2027 covers in total 27 participants. In case all the set earning criteria are met in full, the estimated maximum number of shares to be delivered under the plan is approximately 552,000 shares. The estimated maximum number of shares represents the gross value of the rewards of which the applicable taxes will be deducted before the shares are delivered to the participants.
Share delivery will be executed by using already existing shares and the plan, therefore, has no dilutive effect. Besides the attainment of the earning criteria the share reward under the plan is subject to the continuation of the employment. The share rewards earned on the basis of the plan for the period 2025-2027 will be delivered in 2028.
In addition to the Performance Share Arrangement UPM currently has two other share based long-term incentive arrangements (the Deferred Bonus Arrangement and the Restricted Share Arrangement) and an Employee Share Savings Arrangement. Further information on these arrangements is available from stock exchange release published on 5 February 2025.
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UPM
We deliver renewable and responsible solutions and innovate for a future beyond fossils across six business areas: UPM Fibres, UPM Energy, UPM Raflatac, UPM Specialty Papers, UPM Communication Papers and UPM Plywood. As the industry leader in responsibility, we are committed to the UN Business Ambition for 1.5°C and the science-based targets to mitigate climate change. We employ 15,800 people worldwide and our annual sales are approximately EUR 10.3 billion. Our shares are listed on Nasdaq Helsinki Ltd. UPM Biofore - Beyond fossils. www.upm.com
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