CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 26 MARCH 2025 AT 6:10 PM (EET)
Cargotec's transfer of own shares based on incentive programmes
On 26 March 2025, the Cargotec Board of Directors decided on a directed share issue without consideration to pay the share rewards under the following long-term incentive plans:
- Performance Share Programme 2020-2024, Performance Period 2022-2024
- Performance Share Programme 2023-2025 (payment of 2023-2024 earnings to programme participants whose employment terminates as part of Cargotec's transformation)
- Performance Share Programme 2024-2026 (payment of 2024 earnings to programme participants whose employment terminates as part of Cargotec's transformation)
- Restricted Share Programme 2020-2024, Engagement Period 2022-2024, 3rd instalment
- Restricted Share Programme 2023-2025, 2nd instalment
- Restricted Share Programme 2024-2026, 1st instalment
- Restricted Share Unit Programme 2023-2025
In the share issue, the Company transfers 594,535 Cargotec class B shares held by the company to the programme participants. The shares constitute the share portion of the reward payments.
A large proportion of the shares to be delivered result from the successful execution of Cargotec's transformation according to the targets set by the Board in 2023. The Restricted Share Unit Programme 2023-2025 was designed to reward the separation of Hiab and Kalmar, finding a solution for MacGregor, and ramping down the Cargotec group functions. All of these strategic targets set for the programme were met.
In conjunction with the major transformation during 2024, Cargotec reached all its major goals, demonstrating solid financial and sustainability performance. This performance is reflected in the outcomes of the Performance Share Programmes.
The shares are to be transferred around 3 April 2025. After the transfer, the Company will hold 190,015 of its own class B shares.
The directed share issue is based on the authorisation given by the Company's Annual General Meeting held on 26 March 2025 and the subsequent decision by the Company's Board of Directors.
Cargotec Corporation
The Board of Directors
For further information, please contact:
Mikko Puolakka, CFO, tel. +358 20 777 4000
Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670
Cargotec's
