HELSINKI, March 1, 2021 /PRNewswire/ -- STORA ENSO OYJ
STOCK EXCHANGE RELEASE 1 March 2021
at 9.00 EET
Stora Enso is launching a new plan for 2021-2023 under its
share-based long-term incentive programme. The purpose of the plan
is to incentivise and align management with shareholder interests
and the long-term strategy of the Company. This is done through
setting measurable financial long-term targets as well as through
encouraging personal share ownership.
The long-term share incentive plan consists of performance
shares with a three-year performance period as well as restricted
shares with a three-year retainment period, which is followed by
the payment of the potentially attained share
reward.
The earning criterion for the Performance Share Plan is Economic
Value Added (50% target weight) and Earnings Per Share (50% target
weight) during the period of 2021-2023. The target levels for EVA
and EPS are decided and set ahead of each one-year period. The
outcomes for each one-year period are accumulated, and the payout
will be calculated based on the accumulated targets and outcomes
after the three-year period. Share rewards will be paid in Stora
Enso R shares, where legally possible.
The long-term share incentive plan for the period 2021-2023
covers a maximum of 300 employees. The long-term share incentive
plan for members of the Stora Enso Group Leadership Team consists
of performance shares only. The commencement and payment of the
plan is conditional on approval by the Board of Directors.
The maximum value of the plan is set to be 17 MEUR at grant,
which corresponds to 1 041 347 shares at the share price on
26 February 2021.
In connection with the execution of the plan no new shares will
be issued, and there is no dilutive effect on the number of Stora
Enso's registered shares. Besides the attainment of the performance
criteria, the share reward is subject to the continuation of the
employment. The share rewards earned within the plan for 2021-2023
will be delivered in 2024. Applicable taxes will be deducted before
shares are delivered to the employees.
For further information, please contact:
Ulrika Lilja
EVP
Communications and Marketing
tel. +46 72 221 9228
Investor enquiries:
Ulla
Paajanen
SVP
Investor Relationstel
+358 40 763 8767
Part of the bioeconomy, Stora Enso is a leading global provider
of renewable solutions in packaging, biomaterials, wooden
constructions and paper. We believe that everything that is made
from fossil-based materials today can be made from a tree tomorrow.
Stora Enso has some 23 000 employees, and sales in over 50
countries. Our sales in 2020 were EUR 8.6
billion. Stora Enso shares are listed on Nasdaq Helsinki Oy
(STEAV, STERV) and Nasdaq Stockholm AB (STE A, STE R).
storaenso.com/investors
STORA ENSO OYJ
For further information, please contact:
Ulrika Lilja
EVP
Communications and Marketing
tel. +46 72 221 9228
Investor enquiries:
Ulla
Paajanen
SVP
Investor Relationstel
+358 40 763 8767
This information was brought to you by Cision
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