Vaisala’s Board of Directors resolved on a long-term Performance Share Plan

Office desk
Dec 17, 2020
Stock Exchange Releases

Vaisala Corporation
Stock exchange release
December 17, 2020 at 6.00 p.m. (EET)

Vaisala’s Board of Directors resolved on a long-term Performance Share Plan

Vaisala’s Board of Directors approved a Performance Share Plan for company’s key employees. The aim of the long-term plan is to align the objectives of Vaisala’s shareholders and key employees in order to increase the value of the company in the long-term and commit key employees to the company.  

The potential rewards from the Performance Share Plan 2021–2023 will be based on the Total Shareholder Return of Vaisala’s share (TSR) and operating profit during the performance period. The rewards to be paid on the basis of the Performance Share Plan 2021–2023, in the event that maximum performance against all the performance criteria is achieved, correspond to the value of an aggregate 180,000 Vaisala series A shares, including the proportion to be paid in cash. Approximately 40 key employees will be nominated to the plan, including Vaisala’s Management Group.

The potential rewards from the Performance Share Plan 2021–2023 will be paid partly in the company’s shares and partly in cash in 2024. The cash proportion is intended to cover taxes and tax-related costs arising from the rewards. According to terms and conditions, rewards will be paid to participants whose employment or service continues at the time of the payment.

Vaisala’s Board of Directors also requires, that the President and CEO and each member of the Management Group retains his/her ownership of shares received under this plan until the value of his/her ownership in Vaisala corresponds to at least his/her annual gross base salary.

 

Additional information                                                                                                    
Kaarina Muurinen, CFO
Tel. +358 40 577 5066

Distribution
Nasdaq Helsinki
Key media
vaisala.com

 

Vaisala is a global leader in environmental and industrial measurement. Building on over 80 years of experience, Vaisala provides observations for a better world. We are a reliable partner for customers around the world, offering a comprehensive range of innovative observation and measurement products and services. Headquartered in Finland, Vaisala employs approximately 1,850 professionals worldwide and is listed on the Nasdaq Helsinki stock exchange.  vaisala.com  twitter.com/VaisalaGroup