TietoEVRY Corporation STOCK EXCHANGE RELEASE 17 February 2022, 1.00 p.m. EET
The Board of Directors of TietoEVRY Corporation (“Tietoevry”) has approved two new share-based incentive plans for key employees of Tietoevry and its subsidiaries, a Performance Share Plan 2022–2024 and a Restricted Share Plan 2022–2024. The aim of the plans is to align the objectives of shareholders and key employees in order to increase the value of the company in the long term. Tietoevry will nominate approximately 600 key employees, including the company’s Group Executive Management, to the plans.
The potential rewards from these new incentive plans will be paid partly in the company’s shares and partly in cash in 2025. The cash proportion is intended to cover taxes and tax-related costs arising from the reward. As a rule, no reward will be paid, if a participant´s employment or service ends before the reward payment. The Board of Directors anticipates that share rewards to be delivered to the participants under the plan will consist of shares to be acquired from the market. Thus, no new shares will be issued in connection with the plan and therefore the incentive plan will have no dilutive effect.
Performance Share Plan 2022–2024
The potential reward from the Performance Share Plan 2022–2024 will be based on both relative and absolute Total Shareholder Return of the company’s shares (TSR), on strategic growth target and on Environmental, Social and Governance (ESG) target achievement. Performance will be measured during 2022–2024. The rewards to be paid on the basis of the Performance Share Plan 2022–2024 correspond to the value of an approximate maximum of 1 080 000 Tietoevry shares, including the proportion to be paid in cash.
Restricted Share Plan 2022–2024
The reward from the Restricted Share Plan 2022–2024 will be based on a valid employment or director agreement of a key employee upon the reward payment. The reward will be paid after the end of a three-year vesting period 2022–2024. The rewards to be paid on the basis of the Restricted Share Plan 2022–2024 correspond to the value of an approximate maximum of 120 000 Tietoevry shares, including the proportion to be paid in cash.
For further information, please contact
Hannamari Serlo, Acting Head of Compensation & Benefits, tel. +358 40 532 6206, hannamari.serlo(at)tietoevry.com
Tietoevry creates purposeful technology that reinvents the world for good. We are a leading technology company with a strong Nordic heritage and global capabilities. Based on our core values of openness, trust and diversity, we work with our customers to develop digital futures where businesses, societies, and humanity thrive.
Our 24 000 experts globally specialize in cloud, data, and software, serving thousands of enterprise and public sector customers in more than 90 countries. Tietoevry’s annual turnover is approximately EUR 3 billion and the company’s shares are listed on the NASDAQ exchange in Helsinki and Stockholm, as well as on Oslo Børs. www.tietoevry.com