Directed share issue under the management share-ba
Post# of 301275
Uponor Corporation Stock exchange release 13 February 2017 8.03 EET
Directed share issue under the management share-based incentive plan for 2014–2016
Based on the authorisation granted by the Annual General Meeting on 10 March 2016, Uponor’s Board of Directors has decided on a directed share issue to the company’s management, as part of the long-term share-based incentive plan 2014-2016. Based on the Board’s decision, Uponor will transfer, without payment, 11,141 of the company’s own shares to 7 key employees, as specified in the rules of the plan.
Share-based incentive programmes are part of Uponor’s total management remuneration package, with the purpose of incentivising and motivating management and aligning the targets of management with shareholders.
The reward in the LTI Plan 2014-2016 consisted of the following parts: 1) The matching share incentive based on own investment with a three year vesting period 2) A performance share plan that depended on the company’s earnings performance over a three-year performance period. Further details are available in the stock exchange release announced on 14 February 2014.
No new shares will be issued in connection with the plan and therefore the plan will have no diluting effect. Prior to this directed issue, Uponor held a total of 68,959 of its own shares, of which 57,818 remain.
Further information: Mr Jorma Eloranta, Chair of the Board, e-mail: jorma.eloranta@kolumbus.fi or call requests through: Ms Päivi Dahlqvist, Executive Assistant, Uponor, Tel +358 20 129 211
Uponor Corporation
Tarmo Anttila Vice President, Communications Tel. +358 20 129 2852
DISTRIBUTION: Nasdaq Helsinki Media www.uponor.com
Uponor is a leading international systems and solutions provider for safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure. The company serves a variety of building markets including residential, commercial, industrial and civil engineering. Uponor employs about 3,900 employees in 30 countries, mainly in Europe and North America. In 2016, Uponor's net sales totalled €1.1 billion. Uponor is based in Finland and listed on Nasdaq Helsinki. www.uponor.com
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