TIDMSAMPO
SAMPO PLC STOCK EXCHANGE RELEASE 5 August 2020 at
12:15 pm
Sampo to launch a new long-term incentive scheme
Sampo plc's Board of Directors has today decided to adopt a new
long-term incentive scheme 2020:1 for the management (including the
Group CEO) and other key employees of Sampo Group. Sampo Board Members
are not included in the scheme. The total number of participants in the
long-term incentive scheme is approximately 115. The incentive scheme
complies with the Sampo Group Remuneration Principles and the
remuneration policies of the relevant Sampo Group companies in force at
the launch of this incentive scheme. The new incentive scheme
corresponds to the incentive schemes in force in Sampo Group.
The maximum number of the incentive units shall be 4,500,000 in total
for the Group. A maximum of 90 per cent of the incentive units may be
allocated during August to September 2020 and the remaining incentive
units may be allocated during August to September 2021 and August to
September 2022. The two latter allocations may be directed to new
recruits or to current employees with materially changed circumstances
or holding a position of increased strategic importance.
The allocation of incentive units shall be based on a combination of the
assessment of the performance of the individual, of the business area
and/or business unit concerned and of the overall results of the
relevant Sampo Group company, the division and/or of Sampo Group. Also
qualitative criteria shall be taken into account in the assessment, such
as the compliance with internal and external rules for the business.
The potential incentive reward will be paid in three installments. A
deferral rule applies to incentive rewards paid to key employees who are
subject to the deferral rule in accordance with the remuneration
policies of the relevant Sampo Group companies in force at the launch of
this incentive scheme.
The incentive rewards to be paid shall be based on the share price
development of the Sampo A share, on the return on capital at risk and
on the number of theoretical incentive units granted. The threshold
values for the performance conditions are presented in the terms and
conditions of the incentive scheme 2020:1 available at
www.sampo.com/incentiveterms. The starting price and a theoretical
market price for the scheme are available at the same address in week
37. The value of one incentive unit shall not to be more than the
trade-weighted average price of the Sampo A share on Nasdaq Helsinki Ltd
during 25 trading days commencing the day after Sampo plc's publication
of its Half-Year Financial Report in 2020 plus EUR 24.
The core of the Remuneration Principles of Sampo Group is that all
remuneration systems in Sampo Group shall safeguard the long-term
financial stability of the Group and shall comply with regulatory and
ethical standards. Risk sensitive but fair and rewarding compensation
mechanisms enhance Sampo Group's ability to create stakeholder and
shareholder value.
SAMPO PLC
Jarmo Salonen
Head of Investor Relations and Group Communications
For further information, please contact:
Jarmo Salonen
Head of Investor Relations and Group Communications
tel. +358 10 516 0030
Maria Silander
Communications Manager
tel. +358 10 516 0031
Distribution:
Nasdaq Helsinki
London Stock Exchange
The principal media
Financial Supervisory Authority
https://www.globenewswire.com/Tracker?data=shgg6BcM7a4_1rwwHNm5ic7ad96gkyyuttX4wVGgX9orReB6eMmj1xTyTIEWyKvXGrlmExFJDBWErxixuQx7Vw==
www.sampo.com
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5-day change | 1st Jan Change | ||
39.52 EUR | -1.91% | -2.29% | -0.24% |
Mar. 27 | Fiona Clutterbuck Will Not Be Available for Re-Election of Sampo Oyj's Board | CI |
Mar. 06 | Transcript : Sampo Oyj - Analyst/Investor Day |
Stocks mentioned in the article
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9,490 GBX | -1.06% | -0.73% | 64.72B | ||
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EPS Revisions
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+25.06% | 22.62B |
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