The Board of Directors of Incap Corporation decided on a new performance period within existing long-term key employee incentive plan

The Board of Directors of Incap Corporation decided 27th April 2022 to establish a new share-based incentive plan for the Group´s key employees. The aim is to align the objectives of the shareholders and key employees for increasing the value of the Company in the long-term, to retain the key employees at the company, and to offer them competitive reward plan based on earning and accumulating the company´s shares.

The Performance Share Plan is based on a rolling 3-year performance period structure, with a new performance period starting at the beginning of each year if so decided by the Board.

In the plan, the target group is given an opportunity to earn Incap Corporation shares based on performance. The Board of Directors decides on the plan’s performance criteria and targets to be set for each criterion at the beginning of each performance period. The potential rewards based on the plan will be paid after the end of each performance period.

The Board of Directors of Incap Corporation now decided on a new performance period 2024–2026 where the rewards are based on the group’s cumulative operating profit (EBIT). During the performance period 2024—2026, the CEO and other Incap Management Team members form the target group of the incentive plan. The rewards to be paid on the basis of the performance period 2024–2026 correspond to the value of an approximate maximum total of 56,267 Incap Corporation shares, including also the proportion to be paid in cash.

The rewards will be paid partly in the company´s shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to a participant. In general, no reward is paid if the participant´s employment or director contract terminates before the reward payment.

The Incap Management Team member is obliged to hold 50 per cent of the received net reward shares, until the total value of the Management Team member’s shareholding in Incap Corporation equals to 50 per cent of their annual base salary of the preceding year. Respectively, the CEO is obliged to hold 50 per cent of the received net reward shares, until CEO´s shareholding in Incap Corporation equals to 100 per cent of the CEO´s annual base salary of the preceding year. Such number of Incap Corporation shares must be held as long as the membership in the Management Team or the position as the CEO continues.

INCAP CORPORATION

Additional information:
Ville Vuori, Chairman of the Board of Directors, +358 (0)40 036 9438

Distribution:
Nasdaq Helsinki Ltd.
Principal Media
www.incapcorp.com