Harvia Plc: New performance period for the Long-term Performance Share Plan

Harvia Plc, Stock Exchange Release, New performance period for the Long-term Performance Share Plan, November 24th, 2020 at 6:30 pm

The Board of Directors of Harvia Plc have decided on a new performance period for the Long-term Performance Share Plan for the key employees

The Board of Directors of Harvia Plc has decided on November 24th, 2020 to continue the Long-term Performance Share Plan for the management team and other key employees for the performance period 2020-2022.

The launch and essential terms and conditions of the LTI-plan have been published in a stock exchange release on May 21st, 2018. The plan will form a part of Harvia Plc’s remuneration program for its key employees, and the aim of the Plan is to support the implementation of the company's strategy, to align the objectives of key employees with the shareholders to increase the value of the company, to improve the performance of the company, and to retain key employees.

In the performance period 2020-2022, the plan has 15 participants at most and the targets for the performance period relate to company´s total shareholder return, revenue growth and EBIT margin. The number of shares to be paid based on the performance period 2020-2022 is maximum of 50 300 Harvia Plc´s shares. This number of shares represents the gross earning, from which the withholding of tax and possible other applicable contributions are deducted and the remaining net amount is paid in shares. However, the company has the right to pay the reward fully in cash under certain circumstances. Potential rewards from the performance period 2020-2022 will be paid out during spring 2023.

Harvia Plc

Board of Directors

Additional information:

Tapio Pajuharju, CEO

tel. +358 50 5774 200