CONSTI PLC STOCK EXCHANGE RELEASE 3 MARCH 2021, at 9.05 a.m.
Consti Plc’s Board decided to continue the key employee share-based incentive plan
Consti Plc’s Board has decided to continue the key employee share-based incentive plan launched in 2016. The aim of the plan is to align the objectives of the shareholders and the key employees in order to increase the value of the Company in the long-term, to engage the key employees to the Company, and to offer them a competitive reward plan based on earning of the Company’s shares.
The plan offers the key employees that belong to the target group of the plan an opportunity to earn the Company’s shares as reward by converting half or all of their performance-based bonuses to be earned on the basis of the Company’s bonus scheme in 2021 into shares. Before the reward payment, the performance-based bonuses that have been converted into shares will be multiplied by a reward multiplier determined by the Board.
The potential reward from the performance period 2021 will be paid to participants partly in shares and partly in cash after a two-year vesting period in 2024. The cash portion is aimed at covering taxes and tax-related costs arising from the reward to key employees. Dividends and other potential distribution of assets paid during the vesting period will be compensated to the key employees in connection with the reward payment.
During the performance period 2021, a maximum of approximately 70 key employees will belong to the target group of the plan, including the members of the Management Team. The rewards to be paid for the performance period 2021 will amount up to a maximum total of approximately 230,000 Consti Plc shares at the prevailing share price level, including also the cash portion, providing that all of the key employees that belong to the target group of the plan decide to participate and convert their performance-based bonuses entirely into shares.
Further information:Esa Korkeela, CEO, Consti Plc, Tel. +358 40 730 8568
Distribution:Nasdaq Helsinki Ltd.Major mediawww.consti.fi
Consti is a leading Finnish company concentrating on renovation and technical services. Consti offers comprehensive renovation and building technology services and selected new construction services to housing companies, corporations, investors and the public sector in Finland’s growth centres. Company has four business areas: Housing Companies, Corporations, Public Sector and Building Technology. In 2020, Consti Group’s net sales amounted to 275 million euro. It employs approximately 1000 professionals in renovation construction and building technology.
Consti Plc is listed on Nasdaq Helsinki. The trading code is CONSTI. www.consti.fi
- Headline: Consti Plc’s Board decided to continue the key employee share-based incentive plan Helsinki Stock Exchange:CONSTI
- Check our latest news updates now.