WithSecure Corporation – New incentive plans 2024–2026 for management and key employees of WithSecure Corporation, based on company’s share-based long-term incentive schemes
WithSecure Corporation, Stock Exchange Release, 7 March 2024, 17:00 EET
WithSecure Corporation – New incentive plans 2024–2026 for management and key employees of WithSecure Corporation, based on company’s share-based long-term incentive schemes
Performance Share Plan (PSP) 2024–2026
In 2020, WithSecure (formerly F-Secure) took into use a share-based long-term incentive scheme, based on which the Board of Directors can decide on annually commencing Performance Share Plan (PSP). Each plan includes a maximum of three-year performance period. The scheme was announced for the first time on 12 February 2020.
The Board of Directors of WithSecure Corporation has decided, based on the PSP scheme, on a new Performance Share Plan for the years 2024–2026. The new plan, PSP 2024–2026, will commence in 2024 and the performance criterion for this plan will be WithSecure’s revenue growth over the 3-year performance period.
If all the performance targets set for PSP 2024–2026 are fully achieved, the aggregate maximum number of share rewards to be paid in the first half of 2027 is approximately 6,600,000 shares. This number of shares represents gross earning, from which the applicable payroll tax is withheld, and the remaining net value is paid in shares to the key employees participating in the plan.
The plan is offered to the management and selected key employees of WithSecure. Around 80 key individuals will become eligible to participate in the plan, based on a decision of the Board of Directors. If the individual’s employment with WithSecure terminates before the payment date of the share reward, the individual is not, as a main rule, entitled to any reward based on the plan.
Restricted Share Plan (RSP) 2024–2026
In 2020, WithSecure (formerly F-Secure) took into use a Restricted Share Plan (RSP) as complementary share-based long-term incentive scheme. Board of Directors can decide on annually commencing incentive plans. Each plan includes a maximum of three-year restriction period. The RSP structure is targeted to individually selected key employees of WithSecure Corporation. The scheme was announced for the first time on 29 September 2020.
The Board of Directors of WithSecure Corporation has decided, based on the RSP scheme, on a new Restricted Share Plan for the years 2024–2026.
The aggregate maximum number of shares which may become payable based on RSP 2024–2026 in the first half of 2027 is 500,000 shares. The amount of shares represents gross earnings, from which the applicable payroll tax is withheld, and the remaining net value is paid to the participants in shares. If the individual’s employment with WithSecure terminates before the payment date of the share reward, the individual is not, as a main rule, entitled to any reward based on the plan.
Contact information:
Laura Viita
VP, Controlling, investor relations and sustainability
WithSecure Corporation
+358 50 487 1044
[email protected]
