Incentive schemes

Share-based incentive programme 2014

Lassila & Tikanoja plc’s Board of Directors decided at a meeting held on 18 December 2013 on a new one-year share-based incentive programme to form a part of the incentive and commitment scheme for the company’s key personnel.

The earnings period began on 1 January 2014 and ends on 31 December 2014. Potential rewards will be paid during the year following the earnings period partly as shares and partly in cash. Rewards to be paid for the year 2014 will be based on the Group’s EVA result.

No reward will be paid if a key person’s employment ends before the reward payment. Any shares earned through the incentive programme shall be held for a minimum period of two years following the payment. After that, the members of the Group Executive Board are still required to hold company shares with a value equal to their gross salary for six months and the other programme participants with a value equal to their gross salary for three months as long as they are employed by the company.

A maximum total of 39,105 Lassila & Tikanoja plc shares may be paid out on the basis of the programme.

The shares to be paid out as potential rewards will be transferred from the shares held by the company, and therefore the incentive programme will have no diluting effect on the share value. The programme covers 10 persons.

Share-based incentive programme 2013

Lassila & Tikanoja plc’s Board of Directors decided at a meeting held on 17 December 2012 on a one-year share-based incentive programme to form a part of the incentive and commitment scheme for the company’s key personnel.

The earnings period began on 1 January 2013 and ended on 31 December 2013. Potential rewards will be paid during the year following the earnings period partly as shares and partly in cash. Rewards to be paid for the year 2013 will be based on the Group’s EVA result.

No reward will be paid if a key person’s employment ends before the reward payment. Any shares earned through the incentive programme shall be held for a minimum period of two years following the payment. After that, the members of the Group Executive Board are still required to hold company shares with a value equal to their gross salary for six months and the other programme participants with a value equal to their gross salary for three months as long as they are employed by the company.

A maximum total of 53,300 Lassila & Tikanoja plc shares could be paid out on the basis of the programme.

The shares to be paid out as rewards will be transferred from the shares held by the company, and therefore the incentive programme will have no diluting effect on the share value. 10 people were included in the programme.

Under the programme, 35,818 shares were granted for 2013.