The Board of Directors of Martela Corporation Resolved on an Incentive Plan for the Group’s Key Employees
Martela Corporation, Stock Exchange Release, 14.3.2024 at 10:00
The Board of Directors of Martela Corporation has resolved to establish a new share-based incentive plan for the group’s key employees. The aim of the plan is to align the objectives of the shareholders and key employees for increasing the value of the company in the long-term, to retain the key employees at the company and to offer them a competitive incentive plan that is based on personal investment and earning and accumulating the company’s shares.
The prerequisite for participation in the plan is that a participant owns and commits a number of company’s series A shares determined by the Board of Directors to the Plan.
The plan is a continuation of the Performance-based Matching Share Plan 2021—2023.
Performance-based Matching Share Plan 2024—2026
The new Performance-based Matching Share Plan 2024–2026 consists of three performance periods, covering the financial years of 2024, 2025 and 2026, respectively. The Board will decide annually on the commencement and details of a performance period.
In the plan, the target group has an opportunity to earn Martela Corporation series A shares based on performance and on their personal investment in Martela Corporation series A shares. The performance criteria in the first performance period 2024 is Group’s Earnings before Interest and Taxes (EBIT). The target group in the performance period 2024 consists of approximately 40 key employees, including the members of the Management Team and the CEO.
The value of the rewards to be paid on the basis of the plan corresponds to an approximate maximum total of 1 400 000 series A shares of Martela Corporation, including also the proportion to be paid in cash. The potential rewards will be paid partly in Martela Corporation series A-shares and partly in cash. The cash proportion of the reward is intended for covering taxes and statutory social security contributions arising from the reward to the participants. The potential rewards from the plan will be paid within five months from the end of each performance period.
As a rule, no reward is paid if the participant’s employment or director contract terminates before the reward payment. The reward to be paid on the basis of the plan will be capped if the limits set by the Board of Directors for the share price are reached.
MARTELA CORPORATION
THE BOARD OF DIRECTORS
Further information:
CEO, Ville Taipale, tel. +358 50 557 2611
CFO, Henri Berg, tel. +358 40 386 5464
Distribution
Nasdaq Helsinki
Main news media
Martela is a Nordic leader specialising in user-centric working and learning environments. We create the best places to work and offer our customers the Martela Lifecycle solutions which combine furniture and related services into a seamless whole.
