The Board of Directors of Metso Outotec Corporation has approved the commencement of a new plan period 2021-2023 in the following share-based long-term incentive programs of the Company: The Performance Share Plan (also "PSP") and the Restricted Share Plan (also "RSP").
Metso Outotec originally announced the establishment of the PSP and the RSP structure on July 1, 2020.
PSP 2021-2023 comprises a three-year performance period and the potential share reward thereunder will be paid in the year 2024 provided that the performance targets set by the Board of Directors for the Plan are achieved. The reward will be paid in listed shares of Metso Outotec Corporation.
The performance measures based on which the potential reward under PSP 2021-2023 will be paid are the absolute total shareholder return of Metso Outotec's share, earnings per share and an ESG measure linked to sustainable development.
Eligible to participate in PSP 2021-2023 are approximately 190 key employees of Metso Outotec, including the members of Metso Outotec Executive Team.
If all the performance targets set for the plan, PSP 2021-2023, are fully achieved, the aggregate maximum number of shares to be paid based on this Plan is approximately 2 800 000 shares (referring to gross earning before the withholding of the applicable payroll tax).
The estimated aggregate gross value of PSP 2021-2023, based on the current value of Metso Outotec’s share, is approximately EUR 21.8 million.
RSP 2021-2023 comprises a three-year retention period followed by the payment of the share rewards potentially granted within the plan in the year 2024 in listed shares of Metso Outotec Corporation.
The aggregate maximum number of shares to be paid based on RSP 2021-2023 is approximately 280 000 shares (referring to gross earning before the withholding of the applicable payroll tax).
The final materialized value of each of the above-mentioned plans may deviate significantly from the above estimate both based on the degree to which the performance targets set by the Board of Directors are achieved (with regard to PSP) and as a result of the development of Metso Outotec’s share price.
METSO OUTOTEC CORPORATION
Board of Directors
Further information, please contact:
Nina Kiviranta, General Counsel, Metso Outotec Corporation, tel. +358 20 529 2017
Juha Rouhiainen, Vice President, Investor Relations, Metso Outotec Corporation, tel. +358 20 484 3253
Metso Outotec Corporation
Nasdaq Helsinki Ltd
Metso Outotec is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing, metals refining and recycling industries globally. By improving our customers’ energy and water efficiency, increasing their productivity, and reducing environmental risks with our product and process expertise, we are the partner for positive change.
Headquartered in Helsinki, Finland, Metso Outotec employs over 15,000 people in more than 50 countries and its pro forma sales for 2019 were about EUR 4.1 billion. The company is listed on the Nasdaq Helsinki. mogroup.com, twitter.com/metsooutotec