Cargotec’s Board of Directors has resolved on the adjustment of the ongoing share-based incentive programmes due to the demerger
CARGOTEC CORPORATION, STOCK EXCHANGE RELEASE, 7 AUGUST 2024 AT 6:20 PM (EEST)
Cargotec’s Board of Directors has resolved on the adjustment of the ongoing share-based incentive programmes due to the demerger
Cargotec Corporation has the ongoing share-based incentive programmes listed further below which for the relevant part continue as Cargotec’s programmes following the partial demerger of Cargotec, registered on 30 June 2024 (the ”LTI Programmes”).
In accordance with the Demerger and Listing Prospectus dated 22 May 2024, Cargotec’s Board of Directors has now resolved on the adjustment of the LTI Programmes so as would be payable in rewards expressed in shares of Cargotec Corporation only.
Based on the above, the respective approximate maximum numbers of Cargotec class B shares payable based on the LTI Programmes are:
Performance share programme (PSP) 2022–2024: 220,000 shares, PSP 2023–2025: 213,000 shares and PSP 2024–2026: 200,000 shares, Restricted share unit programme 2023–2025: 419,000 shares, Restricted share programme (RSP) 2022–2024: 17,000 shares, RSP 2023–2025: 16,000 shares and RSP 2024–2026: 15,000 shares.
In addition to the rewards payable in shares, the rewards include a cash portion which is intended to cover the taxes and tax-related costs arising to the key employees from the reward.
Other than as stated above, the LTI Programmes continue on substantially the same terms as those established prior to the partial demerger.
Cargotec Corporation
The Board of Directors
For further information, please contact:
Mikko Puolakka, Executive Vice President and CFO, tel. +358 20 777 4000
Aki Vesikallio, Vice President, Investor Relations, tel. +358 40 729 1670
Cargotec’s (Nasdaq Helsinki: CGCBV) businesses Hiab and MacGregor enable smarter cargo flow for a better everyday with leading cargo handling solutions and services. Hiab is a leading provider of smart and sustainable on road load-handling solutions, committed to delivering the best customer experience every day with the most engaged people and partners. MacGregor is a leader in sustainable maritime cargo and load handling with a strong portfolio of products, services and solutions. The company's continuing operations sales in 2023 totalled approximately EUR 2.5 billion and it employs over 6,000 people. www.cargotec.com
