Uponor Board resolved to continue key management incentive plan
Uponor Corporation Stock exchange release 14 December 2015 15:30 EET
Uponor Board resolved to continue key management incentive plan
The Board of Directors of Uponor Corporation has resolved to continue the key management Performance Share Plan mechanism resolved by the Board in 2014. Approximately 25—30 Group key managers, including the members of the Executive Committee, belong to the target group of the new plan.
The purpose of the plan is to continue aligning the objectives of the management and Uponor shareholders in order to increase the value of the company, boost profitable growth and retain the services of the participants over the longer term. The plan offers key managers a competitive reward plan based on achieving the company’s strategic profitability and growth targets, and earning and accumulating Uponor shares.
The new plan covers the calendar years 2016—2018. It offers the participants an opportunity to earn Uponor shares as a reward for achieving performance targets, which the Board has established for the 3-year performance period, mainly based on consolidated three-year cumulative Net Sales and three-year EBITDA or EBITDA-based intrinsic value.
The potential reward based on the new plan will be paid in 2019, partly in company shares and partly in cash. The cash proportion is intended to cover taxes and tax-related costs which the recipient incurs due to the reward. No reward will be paid if the participant’s employment or service ends before the reward payment. Should the required performance targets be attained in full, the earned reward will correspond to a maximum total of 300,000 Uponor Corporation shares, including the proportion to be paid in cash.
The reward to be paid on the basis of the plan will be capped if the limits set by the Board for the share price are reached. The Board requires that participants hold a minimum of 50 per cent, and recommends that participants continue to hold a considerable portion, of the shares received on the basis of the plan until the value of a participant’s shareholding in Uponor reaches the target level set by the Board.
Uponor Corporation
Board of Directors
For further information, please contact:
Jorma Eloranta, Chair of the Board, jorma.eloranta@kolumbus.fi
Tarmo Anttila
Vice President, Communications
Tel. +358 20 129 2852
DISTRIBUTION:
Nasdaq Helsinki
Media
www.uponor.com
Uponor is a leading international provider of plumbing and indoor climate solutions for residential and commercial building markets across Europe and North America. In Northern Europe, Uponor is also a prominent supplier of infrastructure pipe systems. The Group employs approx. 3,800 persons, in 30 countries. In 2014, Uponor's net sales exceeded €1 billion. Uponor Corporation is listed on Nasdaq Helsinki in Finland. www.uponor.com