STORA ENSO OYJ STOCK EXCHANGE RELEASE 10
February 2023 at 9:00 EET
HELSINKI, Feb. 10,
2023 /PRNewswire/ -- The Board of
Directors of Stora Enso has decided on a new plan for 2023–2025
under the Company's share-based long-term incentive programme. The
purpose of the plan is to incentivise and align management with
shareholder interests and the long-term strategy of the Company.
This will be done through setting measurable and long-term
financial, strategic and ESG (Environmental, Social and Governance)
targets.
The long-term incentive plan consists of performance shares
(Performance Share Plan) with a three-year vesting period, and
selectively restricted shares (Restricted Share Plan) with a
three-year retainment period.
The long-term incentive plan includes ESG targets in order to
strengthen the leadership's long-term commitment to the Company's
sustainability agenda. The earnings criteria for the Performance
Share Plan are Earnings Per Share (EPS) (40% weight) and relative
Total Shareholder Return (TSR) (40% weight). The non-financial ESG
targets represent a 20% weight, allocated as:
CO2 emission reduction (10% weight), and diversity
and inclusion (10% weight). The target levels for EPS are decided
and set ahead of each one-year period. The target levels for
relative TSR and ESG performance are set for the three-year plan.
The potential payout is based on the Company's performance in
relation to the targets over the three-year plan period. Share
rewards will be paid in Stora Enso R shares, where legally
possible.
The long-term incentive plan for the period 2023–2025 covers a
maximum of 300 employees. The long-term incentive plan for members
of the Stora Enso Group Leadership Team consists of performance
shares only.
The maximum value of the plan is set at EUR
20 million at grant, which corresponds to approximately
1,449,000 shares at the share price on 9
February 2023.
No new shares will be issued in connection with the execution of
the plan, and there is no dilutive effect on the number of Stora
Enso's registered shares. Besides attainment of the performance
criteria, the share reward is subject to continuation of
employment. The share rewards earned within the plan for 2023–2025
will be delivered in 2026. Applicable taxes will be deducted before
shares are delivered to the employees.
For further information, please contact:
Carl Norell
Press officer
tel. +46 72 2410349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 2107691
Part of the global bioeconomy, Stora Enso is a leading provider of
renewable products in packaging, biomaterials and wooden
construction, and one of the largest private forest owners in the
world. We believe that everything that is made from fossil-based
materials today can be made from a tree tomorrow. Stora Enso has
approximately 21,000 employees and our sales in 2022 were
EUR 11.7 billion. Stora Enso shares
are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq
Stockholm AB (STE A, STE R). In addition, the shares are traded in
the USA as ADRs (SEOAY).
storaenso.com/investors
STORA ENSO OYJ
CONTACT:
For further information, please contact:
Carl Norell
Press officer
tel. +46 72 2410349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 2107691
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