Board of Directors of Evli Plc resolved to establish a new share-based incentive plan
EVLI PLC STOCK EXCHANGE RELEASE ON SEPTEMBER 14, 2023, AT 2:40 PM (EET/EEST)
The Board of Directors of Evli Plc has resolved to establish a new share-based incentive plan for selected key employees of the group. The purpose of the plan is to align the interests of the company’s shareholders and key employees in order 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 offer them a competitive incentive plan based on earning the company’s shares.
The plan consists of one three-year performance period, which begins on September 1, 2023, and ends on December 31, 2026.
In the plan, the target group has the opportunity to earn Evli Plc’s series B shares based on performance. The performance criteria of the plan are tied to the operating profit of the company (EBIT). The potential rewards from the plan will be deferred and paid to participants approximately three years after the end of the performance period, in compliance with the legislation governing the financial sector. The payment of the rewards is followed by a retention period of one year, during which the key employee cannot transfer the shares paid as a reward.
The value of the rewards to be paid on the basis of the plan corresponds to a maximum total of 520,000 series B shares of Evli Plc, including also the proportion to be paid in cash. The target group consists of approximately 30 key employees, including the members of the Executive Group and the CEO. An Executive Group member and the CEO must hold 50% of the received shares until the value of the participant's total shareholding in the company corresponds to their annual basic salary for the calendar year preceding the payment of the reward.
The potential reward will be paid partly in Evli Plc’s series B 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 end of the two-year period following the performance period, during which the person must be employed to get the reward.
EVLI PLC
Board of Directors
Additional information:
Maunu Lehtimäki, CEO, Evli Plc, tel. +358 50 553 3000, [email protected]
Evli Plc
We see wealth as an engine to drive sustainable progress. We draw on our heritage, broad expertise and Nordic values to grow and manage wealth for institutions, corporations and private persons in a responsible way.
We are the best fund house in the Nordics1 and the leading asset manager in Finland2 offering a broad range of services including mutual funds, asset management and capital markets services, alternative investment products, equity research, share plan design and administration as well as Corporate Finance services. Responsible investing is integrated in every investment decision and our expertise is widely acknowledged by our clients. Evli has Finland's best expertise in responsible investment3.
Evli Group employs around 300 professionals and Evli has approximately EUR 16.8 billion in client assets under management (net 6/2023). Evli Plc’s B shares are listed on Nasdaq Helsinki Ltd.
1 Lipper Fund Awards 2023.
2 Morningstar Awards 2023 (c). Morningstar, Inc. All Rights Reserved. Awarded to Evli for the Best Fund House in Finland. Kantar Prospera External Asset Management Finland 2015, 2016, 2017, 2018, 2019, 2021, 2022, 2023. Kantar Prospera Private Banking 2019, 2020 Finland.
3 SFR Scandinavian Financial Research Institutional Investment Services Finland 2021, 2022. Kantar Prospera External Asset Management Finland 2023.
Distribution: Nasdaq Helsinki, main media, www.evli.com
