Incentive and Commitment Scheme for Panostaja Oyj’s Senior Management Team
Panostaja Oyj Stock Exchange Bulletin, Inside information December 13, 2018, 13:00
On December 12, 2018, the Board of Directors of Panostaja Oyj (Panostaja) decided to continue the long-term share-based incentive and commitment scheme for its CEO and Senior Management Team from the financial period of November 1, 2018 to October 31, 2019 onwards. The scheme combines the long-term interest of the shareholders, the CEO and the rest of the Senior Management Team of Panostaja.
If the annual goals are met, the target group has the opportunity to be rewarded with more Panostaja shares. The annual maximum number of Panostaja shares to be awarded has been set to 126,500, in addition to which a potential bonus may also be paid in cash to cover the taxes and tax-like payments arising from the bonus. The CEO and members of the Senior Management Team are obliged not to sell shares received as a bonus during a period of 24 months after receiving them.
Panostaja’s previous incentive and commitment scheme for the Senior Management Team ended along with the financial period of November 1, 2017 to October 31, 2018. In connection to the now ended previous incentive and commitment scheme, the members of the Panostaja Senior Management Team will be receiving a total of 152,371 Panostaja shares along with a cash bonus to cover the taxes and tax-like payments arising from the total bonus in December 2018.
CEO Juha Sarsama +358 40 774 2099
CFO Tapio Tommila +358 40 527 6311