Sanoma Corporation, Stock Exchange Release, 9 February 2016 at 8:45 CET+1
The Board of Directors of Sanoma Corporation has approved the continuation of the share-based long-term incentive programme for approximately 300 employees.
Under the annual share-based long-term incentive programme originally announced on 7 February 2013 and 7 February 2014, a new Performance and Restricted Share Plan for 2016-2018 is introduced.
Performance Share Plan 2016–2018
The performance measures for the Performance Share Plan 2016–2018 are based on adjusted earnings per share and adjusted free cash flow targets in 2016.
The share rewards payable, subject to the achievement of the performance measures, will be delivered to the participants in the spring 2019, conditional to continued employment at the time of the payment.
The estimated cost for the Performance Share Plan 2016–2018 for the company at target level is around EUR 2.3 million.
Restricted Share Plan 2016–2018
The duration of the Restricted Share Plan commencing at the beginning of 2016 is three years and the share rewards payable based on the Restricted Share Plan 2016–2018, subject to continued employment at the time of the payment, will be delivered to the participants in two separate tranches, the first 50 per cent in the spring 2018 and the second 50 per cent in the spring 2019.
The estimated cost for the Restricted Share Plan 2016–2018 is around EUR 1.8 million.
Sanoma's Investor Relations, Pekka Rouhiainen, tel. +358 40 739 5897
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Sanoma is a front running consumer media and learning company in Europe. In Finland and The Netherlands we are the market leading media company with a broad presence across multiple platforms. Our main markets in learning are Belgium, Finland, the Netherlands, Poland and Sweden. In 2015, Sanoma’s net sales totalled EUR 1.7 billion. Sanoma is listed on the Nasdaq Helsinki stock exchange.