OUTOTEC OYJ STOCK EXCHANGE RELEASE APRIL 25, 2018 at 9.05 AM
Changes in Outotec's own shares
Outotec's Board of Directors has decided to issue Outotec shares held by the company for the payment of free shares of Outotec's Employee Share Savings Plan from the 2015 savings period and the reward of Outotec's Share-Based Incentive Program 2016-2018 from the 2017 earning period.
Outotec's Employee Share Savings Plan is offered for all employees globally in countries where there are no local legal, taxation or administrative restraints. Employees participating in the Plan save a proportion of their salary for purchasing Outotec shares. For the 2015 savings period, Outotec offered one free share for each two acquired shares after a holding period of approximately three years. 974 Outotec employees are eligible for free shares from the 2015 saving period. Free shares are taxable income for the recipient and will be paid partly in Outotec's shares and partly in cash to cover taxes and tax-related payments. The exact number of payable shares will be defined when the holding period of the Employee Share Savings Plan ends on May 15, 2018.
Outotec's Share-Based Incentive Program 2016-2018 covers the company's key persons. The Board of Directors determines annually the maximum number of allocated shares, the participants, the length of the earning period (1-3 years), the amount of the maximum reward for each individual, the earning criteria and the targets established for them. Maximum 636,000 Outotec shares and a cash portion to cover taxes and tax-related payments were allocated for the earnings period 2017. A precondition for the Executive Board members for being eligible for the Share-Based Incentive Program was that he/she also participates in the Employee Share Savings Plan. The reward approved by the Board of Directors is maximum 154,723 shares, equaling 21% of the eligible maximum reward for the earning period 2017, and it can be paid to 91 Outotec employees.
The total number of estimated rewards paid in shares is maximum 320,994 shares.
For further information please contact:
Jari Ålgars, CFO
Tel. +358 20 529 211