Huhtamäki Oyj's new performance share arrangement
(Thomson Reuters ONE) -
HUHTAMÄKI OYJ STOCK EXCHANGE RELEASE 15.3.2010 at 8:00
The Board of Directors of Huhtamäki Oyj has decided on a new performance share
arrangement to form a part of the long-term incentive and commitment program for
the key personnel of the company and its subsidiaries.
The performance share arrangement offers a possibility to earn the company's
shares as remuneration for achieving targets established for the earnings
criteria. The arrangement includes annually commencing three-year performance
share plans. A possible award shall be paid during the calendar year following
each three-year plan.
The aggregate maximum of 400,000 shares and a cash payment equivalent to taxes
arising from the award to the key personnel may be granted under each three-year
plan. Participants to the plan belonging to the Group Executive Team shall hold
at least 50 % of the shares received until he/she holds shares corresponding in
aggregate to the value of his/her annual base salary. Other participants to the
plan shall hold at least 50 % of the shares received until he/she holds shares
corresponding in aggregate to the value of his/her 6 months base salary. The
aforementioned ownership requirements apply until termination of employment or
service.
The first three-year performance share plan will commence in 2010 and the
possible award will be based on the Group's Earnings per Share (EPS) in 2012.
The award, if any, will be paid during 2013. Commencement of further three-year
plans will be separately decided by the Board of Directors.
Upon establishment, the performance share plan is directed to approximately 60
persons.
Enquiries:
Mr. Juha Salonen, Senior Vice President, Administration and General Counsel,
Tel. +358 (0)10 686 7851
HUHTAMÄKI OYJ
Group Communications
Huhtamaki Group is a leading manufacturer of consumer and specialty packaging
with 2009 net sales totaling EUR 2 billion. Foodservice and consumer goods
markets are served by approximately 13,000 people in 54 manufacturing units and
several sales offices in 33 countries. The parent company, Huhtamäki Oyj, has
its head office in Espoo, Finland and its share is quoted on the NASDAQ OMX
Helsinki Ltd. Additional information is available at www.huhtamaki.com
[HUG#1393650]
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Datum: 15.03.2010 - 02:02 Uhr
Sprache: Deutsch
News-ID 1011337
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