The Board of Directors of Metso Outotec Corporation has approved the commencement of a new plan period 2022-2024 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 2022-2024 is subject to achieving performance targets set by the Board of Directors, measured over a three-year performance period. Subject to achievement of these targets, awards will be delivered in 2025 in listed shares of Metso Outotec Corporation.
This award is subject to performance targets based on the absolute total shareholder return of Metso Outotec's shares, earnings per share and development in sustainability, which is linked to the sales growth of the company’s Planet Positive products.
Sustainability is a strategic priority for Metso Outotec and the company is committed to the 1.5-degree climate target. Metso Outotec’s Planet Positive product portfolio consists of those products and technologies, which have the most significant impact on its customers’ targets related to the reduction of emissions or the improvement of energy and water efficiency. Currently around hundred products and technologies are included in the Planet Positive portfolio.
Approximately 200 key employees of Metso Outotec, including the members of Metso Outotec Executive Team, are eligible to participate in PSP 2022-2024.
If the performance targets set for the PSP 2022-2024 are fully achieved, the aggregate maximum number of shares to be paid based on this Plan is approximately 1 800 000 shares (referring to gross earnings before the withholding of the applicable payroll tax).
The estimated aggregate gross value of PSP 2022-2024, based on the current value of Metso Outotec’s share, is approximately EUR 16.6 million.
RSP 2022-2024 comprises a three-year retention period, with awards potentially delivered in 2025 in listed shares of Metso Outotec Corporation.
The aggregate maximum number of shares to be paid based on RSP 2022-2024 is approximately 368 000 shares (referring to gross earnings 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, based on both the degree to which the performance targets set by the Board of Directors are being achieved (regarding PSP) and as a result of changes in Metso Outotec’s share price.
METSO OUTOTEC CORPORATION
Board of Directors
Further information, please contact:
Nina Kiviranta, General Counsel, tel. +358 20 529 2017
Juha Rouhiainen, Vice President, Investor Relations, tel. +358 20 484 3253
Nasdaq Helsinki Ltd
Metso Outotec is a frontrunner in sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining 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.
Metso Outotec is committed to limiting global warming to 1.5°C with Science Based Targets. We ranked 8th on the 2021 Global 100 list of the world’s most sustainable companies.
Headquartered in Helsinki, Finland, Metso Outotec employs over 15,000 people in more than 50 countries and its sales for 2020 were about EUR 3.9 billion. The company is listed on the Nasdaq Helsinki. mogroup.com, twitter.com/metsooutotec