FORTUM CORPORATION INVESTOR NEWS 17 DECEMBER 2021 AT 14:50 EET
The Board of Directors of Fortum Corporation has decided to commence the 2022–2024 long-term incentive (LTI) plan for key employees and executives. The 2022–2024 LTI plan is part of Fortum's ongoing LTI programme and follows the same principles as the previous plan.
The performance measures applied to the 2022–2024 LTI plan will be based on the total shareholder return measured relative to the peer group comprising selected European utility and gas companies, as well as a target linked to the reduction of absolute CO2 emissions based on fossil fleet review addressing the Group’s European generation portfolio. The rewards related to the 2022–2024 LTI plan will be paid in the spring 2025, assuming that the performance targets are achieved.
The 2022–2024 LTI plan will comprise a maximum amount of approximately 140 participants, including the members of Fortum Executive Management.
The Board of Directors also decided to commence the 2022–2024 restricted share (RS) plan as a supplement to the LTI programme and reserve shares that potentially will be delivered in spring 2025.
The maximum amount of shares of the plan that may be delivered as a reward is expected to be approximately 620 000 shares for the 2022–2024 LTI plan and 60 000 shares for the 2022–2024 RS plan.
The objective of the LTI programmes is to support the implementation of the company’s strategy, delivery of sustainable long-term performance, and to align the interests of the executive management and key employees with its shareholders. The programmes comply with the Finnish government ownership guidelines for management remuneration.
For further information regarding the company’s incentive programmes, please see Fortum’s Remuneration Policy and Report: www.fortum.com/governance.
Vice President, Investor Relations and Financial Communications
Nora Hallberg, Manager, Investor Relations & Financial Communications, tel. +358 40 7201775
Jari Laitinen, Vice President, Compensation and Benefits, tel. +358 40 660 2506