The Board of Directors of UPM decided to establish a new employee share savings arrangement and to start new annual plans within the UPM share incentive arrangements.
Employee share savings arrangement
The Board of Directors of UPM decided to establish a new Employee Share Savings Arrangement and approved the start of the first plan in 2028.
Employees of UPM-Kymmene Corporation and its subsidiaries in the countries where it is legally and administratively feasible are targeted by the Employee Share Savings Arrangement.
The purpose of the arrangement is to engage company employees, increase their interest towards company performance and long-term value creation and to align the interests of employees and shareholders.
The Board of Directors of UPM must approve the Employee Share Savings arrangement in each case.
The holding period starts at the initial acquisition of savings shares and ends at the end of the savings period.
There is a deferred bonus arrangement.
The Board of Directors of UPM has approved the start of a new plan for the period from 20 to 27.
The Board of Directors of UPM must approve the new plans in each case.
Key employees of the Company are targeted by the Deferred Bonus Arrangement.
The earning criteria for the Deferred Bonus Plan are based on the Group and each business area.
The Deferred Bonus Plan has a maximum number of shares of 510,300 if all the earning criteria are met.
The plan has no effect on share delivery and the reward is dependent on the continuation of employment.
There is a restricted share arrangement.
The Board of Directors of UPM has approved the start of a new plan for the period of 25 years.
The Board of Directors of UPM must approve new plans in each case.
The President and CEO are not eligible to receive a reward from the Restricted Share Arrangement.
The grant period is the first year of each plan and the vesting period is the third year.
The share rewards based on the plan will be delivered in annual installments by the end of the century.
The maximum number of shares that can be granted is 500,000.
The President and CEO, Group Executive Team members and other selected members of the senior management are targeted by the Performance Share Arrangement.
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The board of directors has an arrangement to establish a new employee.
Decisive actions to improve performance, accelerate growth and deliver value are highlighted in the UPM financial statements.
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Source prnewswire