Olvi plc   Stock exchange release 19 December 2024 at 3:00 p.m.

Other information disclosed according to the rules of the Exchange

The Board of Directors of Olvi plc has decided on new performance periods for long-term share-based incentive plans

At its meeting on 19 December 2024, the Board of Directors of Olvi plc decided on a new performance period of the Performance Share Plan (PSP) for 2025-2027 and of the Restricted Share Plan (RS) for 2025-2026 and on the plans' participants, share amount and share allocation.

Olvi has announced the establishment of these plans through a release on 19 December 2023.

Performance Share Plan 2025-2027

The purpose of the Performance Share Plan is to align the interests of the company's shareholders and key employees to increase the company's value in the long term and to retain the key employees in the company.

The next performance period in the Performance Share Plan, PSP 2025-2027, will start at the beginning of 2025.

The earning criteria are the Group's Baltic Sea and Finland segments' cumulative operating profit, the sales of non-alcoholic products and carbon neutrality in own operations.

Around 36 people are eligible to participate in the PSP 2025-2027 plan, including the members of the Group Management Team and the CEO.

Any share rewards will be paid in Olvi plc Series A shares by the end of May 2028. A prerequisite for the payment of the rewards is the achievement of the performance targets set for the plan by the Board of Directors.  

If the performance targets set for PSP 2025-2026 are achieved in full, the total number of share rewards to be paid under the plan will be up to 42,702 net shares, as well as a cash portion covering taxes and statutory social insurance contributions incurred by the key employees.

Based on the current value of Olvi plc Series A share, the estimated total value of this plan is around EUR 2.33 million. The actual value of the plan may differ from this estimate based on share performance and the degree of achievement of the performance targets set for the plan.

Restricted Share Plan 2025-2026

The Restricted Share Plan is intended to be used in situations considered necessary by the Board of Directors, such as ensuring the retention of key employees in the company.

The next plan, RS 2025-2026, will start at the beginning of 2025. Any share rewards will be paid in Olvi plc Series A shares by the end of May 2027. 

Around 16 people are eligible to participate in the RS 2025-2026 plan. The rewards are based on continuous employment. As a rule, no reward will be paid if a key employee's employment or service contract ends before the payment of the reward.

The total number of share rewards to be paid under the RS 2025-2026 plan will be up to 2,750 net shares, as well as a cash portion covering taxes and statutory social insurance contributions incurred by the key employees.

Based on the current value of the Olvi share, the estimated total value of the plan is around EUR 0.15 million. The actual value of the plan may differ from this estimate based on share performance and the number of share rewards promised within the plan.

Other terms and conditions

As a rule, if a key employee's employment or service contract ends before the payment of the reward, no reward will be paid.

The Board of Directors has set a cap for incentive plan rewards: gross rewards to be paid in one year may not exceed 200% of the gross annual salary.

A member of the Group Management Team, including the CEO, is obligated to hold 50% of the shares they earn until the value of their shareholding in the company equals 50% of their annual base salary in the calendar year preceding the payment of the reward. This number of Olvi plc shares must be held for as long as their membership of the Group Management Team continues.

Olvi plc

Board of Directors

More information:

Nora Hortling

Chair of the Board

Tel. +358 50 3754 626

Distribution:

Nasdaq Helsinki Ltd

Main media

www.olvigroup.fi/en/