2013-02-12 07:07:06 -
OKMETIC OYJ STOCK EXCHANGE RELEASE 12 FEBRUARY 2013 AT 8.00 A.M.
DECISION ON THE EXECUTIVE MANAGEMENT GROUP'S SHARE-BASED INCENTIVE SCHEME FOR
Okmetic's board of directors has decided on the share reward programme for the
executive management group for 2013 as a part of the company's incentive and
commitment plan in its meeting on 11 February 2013. The purpose of the programme
is to commit and incentivise the executive management group to grow the
shareholder value in the long run.
The programme's earning period is calendar year 2013. The reward payment will be
based on common performance criteria, which are, among other things, the
operating profit and cash flow, as well as on individual performance criteria
which are, for the president, increasing sales and improving profitability. The
individual performance criteria for the
other executive management group members
are prepared by the president, and the board of directors resolves on the
confirmation of the criteria.
The possible rewards of the share reward programme will be paid in Okmetic
shares and in a monetary amount covering the taxes in accordance with reaching
the targets that have been set. The amount of the earned reward will be
determined based on the realisation of the set targets and the possible reward
will be paid to the persons in the programme after the financial statements for
2013 have been published.
The amount of the rewards corresponds to a maximum of 150,000 shares. In
addition, a monetary amount covering the taxes will be paid. The shares to be
transferred as rewards will be shares repurchased from the stock market and
therefore, the share reward programme does not have a dilutive effect to the
number of shares.
The shares earned based on the share reward programme must be held for at least
two years after the reward disbursement. In addition, the president must hold at
least half of the shares received as share reward for as long as the president
is in the service of the company. If a person participating in the programme
ceases to be in the service of the company, the rights that such person has
based on the programme shall expire. The persons in the programme may change
during the course of the programme.
Board of directors
For further information, please contact:
Chairman of the board of directors Henri Österlund, Okmetic Oyj, tel.
+358 50 348 9600
NASDAQ OMX Helsinki
OKMETIC IN BRIEF
Take it higher
Okmetic is a technology company which supplies tailor-made silicon wafers for
sensor and semiconductor industries and sells its technological expertise to
solar cell industry. Okmetic provides its customers with solutions that boost
their competitiveness and profitability.
Okmetic's silicon wafers are part of a further processing chain that produces
end products that improve human interaction and quality of life. Okmetic's
products are based on high-tech expertise that generates added value for
customers, innovative product development and an extremely efficient production
Okmetic has a global customer base and sales network, production plants in
Finland and the US and contract manufacturers in Japan and China. Okmetic's
shares are listed on NASDAQ OMX Helsinki under the code OKM1V. For more
information on the company, please visit our website at www.okmetic.com.
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Source: Okmetic Oyj via Thomson Reuters ONE