Sanoma Corporation, Stock Exchange Release, 7 February 2017 at 8:55 CET+1
The Board of Directors of Sanoma Corporation has approved the continuation of the share-based long-term incentive programme for approximately 300 employees.
Under the annual share-based long-term incentive programme originally announced on 7 February 2013 and 7 February 2014, a new Performance Share Plan for 2017-2019 and Restricted Share Plan for 2017-2018 is introduced.
Performance Share Plan 2017–2019
The performance measures for the Performance Share Plan 2017–2019 are based on adjusted earnings per share and adjusted free cash flow targets in 2017.
The share rewards payable, subject to the achievement of the performance measures, will be delivered to the participants in the spring 2020, conditional to continued employment at the time of the payment.
The estimated cost for the Performance Share Plan 2017–2019 for the company at target level is around EUR 4.6 million.
Restricted Share Plan 2017–2018
The duration of the Restricted Share Plan commencing at the beginning of 2017 is two years and the share rewards payable based on the Restricted Share Plan 2017–2018 will be delivered to the participants in the spring 2019.
The estimated cost for the Restricted Share Plan 2017–2018 is around EUR 1.2 million.
Sanoma's Investor Relations, Anna Tuominen, tel. +358 40 584 6944
Sanoma is a front running media and learning company impacting the lives of millions every day. We provide consumers with engaging content, offer unique marketing solutions to business partners and enable teachers to excel at developing the talents of every child.
With companies operating in Finland, the Netherlands, Belgium, Poland and Sweden, our net sales totalled EUR 1.6 billion and we employed more than 5,000 professionals in 2016. The Sanoma shares are listed on Nasdaq Helsinki.