Tietoevry Corporation STOCK EXCHANGE RELEASE 15 February 2023, 1:00 p.m. EET
Tietoevry’s Board of Directors has approved two new share-based incentive plans for key employees of Tietoevry and its subsidiaries, a Performance Share Plan 2023–2025 and a Restricted Share Plan 2023–2025. 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 members of 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 2026. The cash proportion is intended to cover taxes and statutory social security contributions arising from the reward. As a rule, no reward will be paid, if a participant´s employment or director agreement terminates 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 2023–2025
The potential reward from the Performance Share Plan 2023–2025 will be based on Relative Total Shareholder Return of Tietoevry share (TSR) with 80% weight and on Environmental, Social and Governance (ESG) targets achievement with 20% weight (gender diversity and CO2 reduction). Performance will be measured during 2023–2025. The rewards to be paid on the basis of the Performance Share Plan 2023–2025 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 2023–2025
The reward from the Restricted Share Plan 2023–2025 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 2023–2025. The rewards to be paid on the basis of the Restricted Share Plan 2023–2025 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
Petri Sallinen, Head of Compensation & Benefits, tel. +358 50 458 1612, petri.sallinen (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