F-Secure Corporation – New share-based long-term incentive scheme for management and key employees of F-Secure Corporation

F-Secure Corporation, Stock Exchange release, 12 February 2020, 10.00 EET

F-Secure Corporation – New share-based long-term incentive scheme for management and key employees of F-Secure Corporation

The Board of Directors of F-Secure Corporation has decided to establish a new share-based long-term incentive scheme for the management and selected key employees of F-Secure. The objectives of the share-based long-term incentive scheme are to align the interests of F-Secure’s top management and key employees with those of the Company’s shareholders and to promote shareholder value creation in the long term.

The scheme consists of annually commencing individual performance share plans (PSP), each with a three-year performance period, followed by the payment of the potentially earned share rewards. The commencement of each individual plan is subject to a separate Board resolution.

Performance Share Plan 2020-2022

The first plan within the structure, PSP 2020 – 2022, commences as of the beginning of 2020 and the potential share rewards thereunder will be paid in the first half of 2023 provided that the performance targets set by the Board of Directors are achieved.

The performance criteria applied for the PSP 2020 – 2022 are the Company’s total shareholder return (TSR) development compared to corresponding TSR development of pre-defined technology stock indexes.

Eligible to participate in PSP 2020 – 2022 are approximately maximum of 110 individuals.

If all the performance targets set for PSP 2020 – 2022 are fully achieved, the aggregate maximum number of shares to be paid based on this first plan is approximately 3 400 000 shares. This number of shares represents a gross earning, from which the applicable payroll tax is withheld and the remaining net value is paid to the participants in shares.

If the individual’s employment with F-Secure terminates before the payment date of the share reward, the individual is, as a main rule, not entitled to any reward based on the plan.

Other terms

F-Secure applies a share ownership recommendation to the members of its Leadership Team. According to this recommendation each member of the Leadership Team is expected to retain in his/her ownership at least half of the net shares received under the share-based incentive schemes of F-Secure until the value of his/her share ownership in F-Secure corresponds to at least his/her annual gross base salary.

Contact information:

Henri Kiili,  Investor Relations and Treasury Director, F-Secure Corporation

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