The Board of Directors of Evli Bank Plc has resolved to establish a new share-based incentive plan
EVLI BANK PLC STOCK EXCHANGE RELEASE SEPTEMBER 5, 2017 AT 7.00 PM
The Board of Directors of Evli Bank Plc has resolved to establish a new share-based incentive plan
The Board of Directors of Evli Bank Plc has resolved to establish a new share-based incentive plan directed to selected key employees of the company. Rewards paid based on the plan will be paid in Evli's shares. The combined maximum amount of shares to be paid corresponds to 230,000 shares (gross number of shares before reduction of applicable tax deductions).
The aim with the share-based incentive plan is to support Evli's strategy and align the objectives of the shareholders and the selected key employees in order to increase the value of Evli in the long-term. In addition the aim is to retain the selected key employees at the company and to offer them a competitive reward plan.
The reward from the incentive plan in awarded in three installments. The first installment is awarded to the participants by the end of September 2017. The second and third installments are awarded to the participants by the end of September 2018 and 2019. The prerequisite for reward award and reward payment is that a participant's employment or service is in force. In addition, the Board of Directors may consider the participant's work contribution.
Each installment has a three year deferral period. Ownership rights to the shares subject to the reward are transferred to the beneficiary only after the end of the deferral period. Therefore the ownership is transferred to the participants after the relevant deferral period by the end of September 2020, 2021 and 2022.
Evli Bank Plc
Board of Directors
For additional information, please contact
Juho Mikola, CFO, Evli Bank Plc, tel. +358 (0)9 4766 9871,
juho.mikola@evli.com
Evli Bank Plc
Evli is a bank specialized in investments that helps institutions, corporations and individuals increase their wealth. The product and service offering includes mutual funds, asset management and capital markets services, alternative investment products, investment research, administration of incentive programs and Corporate Finance services. The company also offers banking services that support clients' investment operations. Evli is the highest ranked and most used institutional asset manager in Finland.*
* TNS Sifo Prospera - External Asset Management Finland 2017
Distribution: Nasdaq Helsinki Ltd, main media, www.evli.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Evli Pankki Oyj via GlobeNewswire
