Commencement of new plan periods in long-term incentive plans targeted to Metso management and key employees
Metso Corporation’s stock exchange release on December 20, 2023, at 3:20 p.m. EET
The Board of Directors of Metso Corporation has approved the commencement of a new plan period 2024-2026 in the following share-based long-term incentive programs of the Company: The Performance Share Plan (also "PSP") and the Restricted Share Plan (also "RSP").
Metso originally announced the establishment of the PSP and the RSP structure on July 1, 2020.
PSP 2024-2026
PSP 2024-2026 is subject to achieving performance targets set by the Board of Directors, measured over a three-year performance period. Subject to achievement of these targets, awards will be delivered in 2027 in listed shares of Metso Corporation.
This award is subject to performance targets based on the absolute total shareholder return of Metso’s shares, earnings per share and development in sustainability, which is linked to the sales growth of the company’s Planet Positive offering.
Sustainability is a strategic priority for Metso and the company is committed to the 1.5-degree climate target. Metso’s Planet Positive product portfolio consists of those products and technologies, which have the most significant impact on its customers’ targets related to the reduction of emissions or the improvement of energy and water efficiency.
Approximately 200 key employees of Metso, including the members of Metso Leadership Team, are eligible to participate in PSP 2024-2026.
If the performance targets set for the PSP 2024-2026 are fully achieved, the aggregate maximum number of shares to be paid based on this Plan is approximately 2,170,000 shares (referring to gross earnings before the withholding of the applicable payroll tax).
The estimated aggregate gross value of PSP 2024-2026, based on the current value of Metso’s share, is approximately EUR 20.2 million.
RSP 2024-2026
RSP 2024-2026 comprises a three-year retention period, with awards potentially delivered in 2027 in listed shares of Metso Corporation.
The aggregate maximum number of shares to be paid based on RSP 2024-2026 is approximately 434,000 shares (referring to gross earnings before the withholding of the applicable payroll tax).
The final materialized value of each of the above-mentioned plans may deviate significantly from the above estimate, based on both the degree to which the performance targets set by the Board of Directors are being achieved (regarding PSP) and as a result of changes in Metso’s share price.
METSO CORPORATION
Board of Directors
Further information:
Nina Kiviranta, General Counsel, tel. +358 20 529 2017
Juha Rouhiainen, Vice President, Investor Relations, tel. +358 20 484 3253
Distribution:
Nasdaq Helsinki Ltd
Main media
www.metso.com
Metso is a frontrunner in providing sustainable technologies, end-to-end solutions and services for the aggregates, minerals processing and metals refining industries globally. By helping our customers increase their productivity, improve their energy and water efficiency and environmental performance with our process and product expertise, we are the partner for positive change.
Headquartered in Espoo, Finland, Metso employs over 16,000 people in close to 50 countries and sales for 2022 were about EUR 5.3 billion. The company is listed on the Nasdaq Helsinki. metso.com, x.com/metsoofficial