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Feb 17, 2022
New sharebased incentive program for Qt Group Plc key persons
The Board of Directors of Qt Group Plc has decided to establish a new share-based incentive program for the company’s President and CEO and other key persons. Objective of the program is to bring together the key persons’ targets based on the company growth strategy and shareholders’ goals for enhancing the company’s value, commit the key persons to the company and to offer them a competitive incentive program based on company shares.
The incentive program has one reward collection period covering years 2022–2024. Rewards in the program are determined by Qt Group Plc’s net sales in 2024. Rewards will start accumulating once the net sales for 2024 exceed EUR 240 million, and they then continue to increase in a linear manner up to a maximum value equivalent to 130,000 shares once net sales reach EUR 360 million. Of the maximum reward equivalent to the value of 130,000 shares, the President and CEO’s share is 10,000 and for other key persons it is equivalent to the value of 120,000 shares.
The rewards pursuant to the program will be paid upon the confirmation of the financial statements for 2024 as a combination of shares and cash, so that the cash amount will approximately cover the taxes and other statutory fees resulting from the reward, and the rest of the reward will be paid to the recipient in shares. Shares paid out as rewards are not subject to any restrictions concerning e.g. their hand-over.
The Company Board of Directors has decided to outsource the management, securing and implementation of the incentive program from Evli Awards Management.
Further information on the terms and conditions of the incentive program is available at the company website at https://investors.qt.io/governance/compensations/.
Qt Group Plc
Board of Directors
Further information:
President and CEO Juha Varelius, tel. +358 9 8861 8040
Distribution:
Nasdaq Helsinki Ltd.
Key media
www.qt.io
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