Uponor Board resolves to continue key management incentive plan for 2023–2025
Uponor Corporation, Stock Exchange Release, 14 December 2022 at 18:00 EET
Uponor Board resolves to continue key management incentive plan for 2023–2025
The Board of Directors of Uponor Corporation has resolved to continue the key management Performance Share Plan mechanism by launching the Performance Share Plan 2023–2025. Approximately 50 Group key managers, including the President and CEO and other members of the Executive Committee, belong to the target group of the new plan.
The aim of the plan is to align the objectives of the shareholders and the key managers in order to support the long-term value creation of the Uponor Group, to engage and commit the key managers to Uponor, and to offer them a competitive reward plan that is based on earning and accumulating Uponor shares.
The plan covers the financial years 2023–2025. It offers the participants an opportunity to earn Uponor shares as a reward for achieving performance targets, which the Board has established for the 3-year performance period, based on 3-year Cumulative EBITDA or EBITDA-based Intrinsic Value, as well as a 3-year performance criterion related to the Group’s sustainability targets.
The potential reward will be paid in 2026, partly in company shares and partly in cash. The cash proportion is intended to cover taxes and tax-related costs which the recipient incurs due to the reward. No reward will be paid if the participant’s employment or service terminates before the reward payment.
If the required performance targets are attained in full, the payable rewards will correspond to the value of a maximum total of 720,000 Uponor Corporation shares, including the proportion to be paid in cash.
Continuous shareholding requirement is applied to the President and CEO and other members of the Executive Committee. The Executive Committee members must hold 100 per cent of the shares received on the basis of the plan until the value of their shareholding in Uponor corresponds to the value of their annual gross salary.
Uponor Corporation
Board of Directors
Further information:
Annika Paasikivi, Chair of the Board, annika.paasikivi@orasinvest.fi
Jennifer Hauschildt, Chief Human Resources Officer, jennifer.hauschildt@uponor.com
DISTRIBUTION:
Nasdaq Helsinki
Media
www.uponorgroup.com
Uponor in brief
Uponor is one of the leading international providers of solutions that move water for buildings and infrastructure. The company is rethinking water for future generations with its safe drinking water delivery systems, energy-efficient radiant heating and cooling systems, and reliable infrastructure solutions. With a commitment to sustainability and a passion for innovation, Uponor is developing new technologies and systems that enrich people’s lives. We help our customers in residential and commercial construction, municipalities and utilities, as well as different industries to work faster and smarter. Uponor employs about 3,900 professionals in 26 countries in Europe and North America and Uponor’s products are sold in more than 80 countries. In 2021, Uponor's net sales totalled approximately €1.3 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponorgroup.com
