Sanoma Corporation, Stock Exchange Release, 10 February 2021 at 8:50 EET
Sanoma continues its long-term incentive programme
The Board of Directors of Sanoma Corporation has approved the continuation of the share-based long-term incentive programme for approx. 230 employees. Under the annual share-based long-term incentive programmes originally announced on 7 February 2013 and 7 February 2014, a new Performance Share Plan for 2021-2023 and Restricted Share Plan 2021-2023 is introduced.
Performance Share Plan 2021–2023
The performance measures for the Performance Share Plan 2021–2022 are based on adjusted free cash flow and adjusted earnings per share targets in 2021.
The share rewards payable, subject to the achievement of the performance measures, will be delivered to the participants in spring 2024, subject to meeting the continuous employment or good leaver ground conditions at the time of the payment. The share rewards to be paid will amount up to a maximum of 495,000 Sanoma shares (gross, before the deduction of related taxes).
Restricted Share Plan 2021–2023
The duration of the Restricted Share Plan commencing at the beginning of 2021 is three years. The share rewards payable based on the plan will be delivered to the participants in spring 2024. The share rewards to be paid will amount up to a maximum of 25,000 Sanoma shares (gross). The plan is introduced only for specific, non-performance related remuneration needs.
Kaisa Uurasmaa, Head of Investor Relations and CSR, tel. +358 40 560 5601
Sanoma is an innovative and agile learning and media company impacting the lives of millions every day.
Our learning products and services enable teachers to develop the talents of every child to reach their full potential. We offer printed and digital learning content as well as digital learning and teaching platforms for primary, secondary and vocational education, and want to grow our business across Europe.
Our Finnish media provide independent journalism and engaging entertainment also for generations to come. Our unique cross-media position offers the widest reach and tailored marketing solutions for our business partners.
Today, we operate in eleven European countries and employ close to 5,000 professionals. In 2020, our net sales amounted to approx. 1.1bn€ and our operational EBIT margin excl. PPA was 14.7%. Sanoma shares are listed on Nasdaq Helsinki. More information is available at www.sanoma.com.