The Board of Directors of Nurminen Logistics Plc resolved on a new performance period for the performance share plan and a new performance share plan for the CEO

Nurminen Logistics Plc        Stock Exchange Release  22 November 2023, at 3.00. p.m

THE PERFORMANCE PERIOD 2023–2025 OF THE PERFORMANCE SHARE PLAN 2022–2026

The Board of Directors of Nurminen Logistics Plc established a Performance Share Plan 2022–2026 in 2022 for the key employees of Nurminen Logistics Plc. The key terms of the Performance Share Plan were published in a stock exchange release on 5 July 2022. The Board of Directors of the company resolved on a new performance period for the Plan covering the financial years 2023–2025.

The target group of the Plan for the performance period 2023–2025 consists of the company’s CEO and all members of the Management Team. During the performance period 2023–2025, the rewards are based on the Total Shareholder Return (TSR) of the Nurminen Logistics Plc share and on the ratio of net debt to EBITDA at the end of the financial year 2025.

The gross rewards to be paid from the performance period correspond to the value of an approximate maximum total of 296,000 Nurminen Logistics Plc shares, including the proportion to be paid in cash. The potential rewards from the Performance Period 2023–2025 will be paid by the end of May 2026, partly in Nurminen Logistics Plc shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to a participant.

The rewards to be paid on the basis of the Performance Share Plan will be capped if the limits set by the Board for the payable reward from the performance period 2023–2025 are reached.

CEO PERFORMANCE SHARE PLAN

The Board of Directors of Nurminen Logistics Plc resolved to establish a new Performance Share Plan for the CEO of the company. The purpose of the plan is to align the objectives of the company’s shareholders and the CEO for increasing the value of the company in the long term.

The CEO Performance Share Plan consists of one performance period, which begins immediately with the decision by the Board of Directors and ends at the end of the financial year 2025.

In the plan, the CEO has an opportunity to earn Nurminen Logistics Plc shares as a reward based on the Total Shareholder Return (TSR) of the company. The potential rewards from the plan will be paid in three instalments during the financial years 2026–2027.

The value of the gross rewards to be paid on the basis of the plan corresponds to an approximate maximum total of 608,000 Nurminen Logistics Plc shares, including also the proportion to be paid in cash. The potential rewards from the plan will be paid partly in Nurminen Logistics Plc shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the CEO.

Nurminen Logistics Plc
 

For further information, please contact:

Olli Pohjanvirta, CEO and President, tel. +358 40 900 6977, olli.pohjanvirta@nurminenlogistics.com

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