14/12/2017 16:30:12

Metso's Board of Directors decides on long-term incentive plans for senior management

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Metso's Board of Directors decides on long-term incentive plans for senior management

Metso Corporation's stock exchange release on December 14, 2017 at 6:30 p.m. EET

Metso's Board of Directors has made resolutions relating the long-term incentive plans for the company's senior management. The plans are implemented in three structures: Performance Share Plan, Restricted Share Plan and a new Deferred Share Unit Plan. Competitive long-term incentive plans are designed to align the interest of Metso's management with those of its shareholders to increase the value of Metso and to commit the management to the company.

A new plan period for the Performance Share Plan

The Board approved a commencement of a new plan period for the top management Performance Share Plan (PSP), which was originally announced on December 10, 2014.

PSP 2018-2020 will commence at the beginning of 2018 and potential share rewards will be delivered in the first half of 2021 if the performance targets set by the Board are achieved.

The potential share reward payable under the PSP 2018-2020 is based on the total shareholder return of Metso's share during calendar years 2018-2020. The plan includes 11 executives belonging to Metso top management and will comprise a maximum of 160,000 reward shares (gross before the deduction of applicable payroll tax).

A new plan period for the Restricted Share Plan

The Board also approved a commencement of a new plan period for the complementary Restricted Share Plan (RSP) structure. Metso originally announced the establishment of the Restricted Share Plan arrangement on December 10, 2014.

The next individual plan within the Restricted Share Plan, RSP 2018-2020, will commence at the beginning of 2018 and potential share rewards will be delivered in the spring 2021.

The maximum number of share rewards that may be allocated and delivered within the RSP 2018-2020 totals 50,000 shares (gross before the deduction of applicable payroll tax).

A new Deferred Share Unit Plan for management

In addition, the Board decided to establish a new long-term performance and share value-based incentive plan, Deferred Share Unit Plan, targeted for Metso's management. Employees selected as eligible to participate in the Performance Share Plan may not participate in the Deferred Share Unit Plan during the same year.

The Deferred Share Unit Plan consists of annually commencing individual three-year plans. The plan rewards its participants for individual and company level performance during a one-year performance period and the final value of the potential reward will depend on Metso's share price development during a two-year share price performance period.

The first plan for the years 2018-2020 will commence at the beginning of 2018 and potential rewards will be paid in cash in the spring 2021, if the performance targets set by the Board of Directors are achieved. The first plan may include approximately 120 participants.

The commencement of each subsequent new plan will be subject to a separate approval by the Board of Directors.

The maximum amount of rewards payable based on the first plan for the years 2018-2020, based on the average price of the Metso share on December 13, 2017, is approximately EUR 9 million (gross before the deduction of applicable payroll tax). The final value of this individual plan will depend both on the achievement of the performance targets set by the Board of Directors for 2018 and the development of Metso's share price during 2019-2020.

Metso is a world leading industrial company serving the mining, aggregates, recycling, oil, gas, pulp, paper and process industries. We help our customers improve their operational efficiency, reduce risks and increase profitability by using our unique knowledge, experienced people and innovative solutions to build new, sustainable ways of growing together.

Our products range from mining and aggregates processing equipment and systems to industrial valves and controls. Our customers are supported by a broad scope of services and a global network of over 80 service centers and about 6,000 services professionals. Metso has an uncompromising attitude towards safety.

Metso is listed on the Nasdaq Helsinki in Finland, and had sales of about EUR 2.6 billion in 2016. Metso employs over 11,000 people in more than 50 countries. Expect results. 

metso.com

,

twitter.com/metsogroup

  

Further information, please contact:

Merja Kamppari, Senior Vice President, Human Resources, Metso Corporation, tel. +358 20 484 3119

  

Metso Corporation

Eeva Sipilä

CFO

Juha Rouhiainen

VP, Investor Relations

Distribution:

NASDAQ OMX Helsinki Ltd

Media

www.metso.com


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: Metso Corporation via Globenewswire

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