Outokumpu Unveils Share-Based Programs for 2024–2026 with Focus on Sustainability and Performance

Outokumpu Unveils Share-Based Programs for 2024–2026 with Focus on Sustainability and Performance

(IN BRIEF) Outokumpu’s Board of Directors has approved the initiation of the company’s share-based programs, the Performance Share Plan (PSP) and Restricted Share Pool (RSP), for the period spanning from 2024 to 2026. These programs will commence at the beginning of 2024. The PSP’s earning criteria for this period will be based on Outokumpu’s return on capital employed (80% weight) and CO2 emissions per ton of crude steel produced (20% weight), with both criteria needing to be met for the plan to pay out. The maximum number of participants in the PSP for 2024–2026 is set at 200 key employees, with a maximum allocation of 3,700,000 gross shares (including taxes). The RSP, designed for a limited number of employees for reasons such as key recruitments and exceptional performance, will have a maximum allocation of 500,000 gross shares (including taxes) for the same plan period. Share rewards will be distributed in 2025, 2026, and 2027, provided that employment conditions and performance criteria are met, with applicable taxes deducted from gross shares before delivery of the remaining net value to participants in Outokumpu shares. For further details on share-based programs and their terms, visit Outokumpu’s official website.

(PRESS RELEASE) HELSINKI, 16-Dec-2023 — /EuropaWire/ — The Board of Directors has now approved the commencement of Outokumpu’s share-based programs, Performance Share Plan and Restricted Share Pool, for the period 2024–2026. The plans commence at the beginning of 2024.

The earning criteria of the Performance Share Plan (PSP) for this period are Outokumpu’s return on capital employed (80% weight) and CO2 emissions per ton of crude steel produced (20% weight). Both criteria must be met for the plan to pay out. The maximum number of participants in the plan period 2024–2026 is 200 key employees. The maximum number of gross shares (taxes included) that can be allocated is 3,700,000.

The Restricted Share Pool (RSP) is used for a limited number of employees, i.e., key recruitments, exceptional performance, high potential, retention need, and other individual specific situations. The maximum number of gross shares (taxes included) that can be allocated is 500,000 shares for the plan period 2024–2026.

The share rewards will be distributed in the spring of 2025 (RSP’s first tranche), 2026 (RSP’s second tranche) and 2027 (RSP’s third tranche and PSP), if the employment conditions and performance criterion are met. Applicable taxes will be deducted from gross shares, and the remaining net value will be delivered to the participants in Outokumpu shares.

More information on share-based programs and their terms is available at www.outokumpu.com/en/investors/governance/remuneration/share-based-incentive-programs.

Media Contacts:

Investors:
Linda Häkkilä
Head of Investor Relations
tel. +358 400 719 669

Media:
Päivi Allenius
VP – Communications & Brand
tel. +358 40 753 7374

Outokumpu media desk
+358 40 351 9840

SOURCE: Outokumpu Oyj