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February 15, 2023 | AspocompEstimated reading time: 1 minute
The Board of Directors of Aspocomp Group Plc has approved the commencement of a new performance period within the share-based long-term incentive scheme for the company’s top management and selected key employees, the Performance Share Plan (PSP).
Aspocomp Group originally announced the establishment of the long-term incentive scheme with a stock exchange release issued on July 20, 2022.
The next plan within the PSP structure, PSP 2023-2025, commences as of the beginning of 2023 and the share rewards potentially earned thereunder will be paid during H1 2026. The payment of the rewards is conditional on the achievement of the performance targets set by the Board of Directors for the plan.
The performance measures based on which the potential share rewards under PSP 2023-2025 will be paid are cumulative EBIT and the total shareholder return of Aspocomp’s share (absolute TSR).
Eligible for participation in PSP 2023-2025 are approximately 20 individuals, including the members of Aspocomp’s Management Team.
If all the performance targets set for PSP 2023–2025 are fully achieved, the aggregate maximum number of shares payable as a reward based on this plan is approximately 91,000 shares (referring to gross earning before the withholding of the applicable payroll tax).
The maximum value of the rewards payable to the participants based on PSP 2023-2025 is limited by a cap which is linked to Aspocomp’s share price development.
Aspocomp applies a share ownership recommendation to the members of the company’s Management Team. According to this recommendation each member of Aspocomp’s Management Team is expected to retain in his/her ownership at least half of the shares received under the share-based incentive plans of the company until the value of his/her share ownership in the company in case of the President and CEO corresponds to at least the CEO’s annual gross base salary and in case of the other members of the Management Team to half of the individual’s annual gross base salary.
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