Sanoma Corporation, Stock Exchange Release, 7 February 2020 at 8:50 EET
Sanoma continues its long-term incentive programme
The Board of Directors of Sanoma Corporation has approved the continuation of the share-based long-term incentive programme for approx. 200 employees. Under the annual share-based long-term incentive programmes originally announced on 7 February 2013 and 7 February 2014, a new Performance Share Plan for 2020-2022 and Restricted Share Plan 2020-2022 is introduced.
Performance Share Plan 2020–2022
The performance measures for the Performance Share Plan 2020–2022 are based on adjusted free cash flow and adjusted earnings per share targets in 2020.
The share rewards payable, subject to the achievement of the performance measures, will be delivered to the participants in spring 2023, subject to meeting the continuous employment or good leaver ground conditions at the time of the payment. The share rewards to be paid will amount up to a maximum of 525,000 Sanoma shares (gross, before the deduction of related taxes).
Restricted Share Plan 2020–2022
The duration of the Restricted Share Plan commencing at the beginning of 2020 is three years. The share rewards payable based on the plan will be delivered to the participants in spring 2023. The share rewards to be paid will amount up to a maximum of 30,000 Sanoma shares (gross). The plan is introduced only for specific, non-performance related remuneration needs.
Kaisa Uurasmaa, Head of Investor Relations and CSR, tel. +358 40 560 5601
Sanoma is a front running learning and media company impacting the lives of millions every day. We enable teachers to excel at developing the talents of every child, provide consumers with engaging content, and offer unique marketing solutions to business partners.
Today, with operations in ten countries including Finland, the Netherlands and Poland, our net sales totalled EUR 900 million and we employed approx. 3,500 professionals in 2019. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.