Aktia Bank Plc
Stock Exchange Release
5 August 2021 at 7.30 p.m.
Aktia Bank plc’s new Restricted Share Plan
Aktia Bank plc’s Board of Directors has decided on a new share-based long-term incentive arrangement (Restricted Share Plan).
The total number of Aktia Bank plc’s shares paid under the Restricted Share Plan may be a maximum of 280,000. No reward will be paid if the participant's employment or service ends before the payment of the reward. The number of shares represents a gross earning, from which the applicable tax is withheld, and the remaining net value is paid in shares to the key employees participating in the plan. The Board of Directors can decide whether the reward is paid by using newly issued shares, the company’s existing treasury shares or shares purchased from the stock market. The company is entitled to pay the fee in full in cash in certain situations and the rewards are subject to postponement and retention rules applicable to financial services industry.
The purpose of the Restricted Share Plan is to serve as a complementary long-term retention tool for key employees who will be selected individually. The company shall decide separately on allocation of the rewards to key employees. The payment time of the reward depends on the time of the allocation of the reward. The first rewards may become payable in September 2022 at the earliest, and a one-year lock-up period will primarily apply to the shares paid. The purpose of the plan is to to retain, motivate and reward selected key employees in order to increase the shareholder value in the long term. In addition to the Restricted Share Plan, Aktia has the AktiaUna long-term share savings plan directed to all employees of the company.
Aktia Bank Plc
Mikko Ayub, CEO
tel. 010 247 5121
Nasdaq Helsinki Ltd
Aktia is a Finnish asset manager, bank and life insurer that has been creating wealth and wellbeing from one generation to the next for 200 years. We serve our customers in digital channels everywhere and face-to-face in our offices in the Helsinki, Turku, Tampere, Vaasa and Oulu regions. Our award-winning asset management business sells investment funds internationally. We employ approximately 930 people around Finland. Aktia's assets under management (AuM) on 31 December 2020 amounted to EUR 10.4 billion, and the balance sheet total was EUR 10.6 billion. Aktia's shares are listed on Nasdaq Helsinki Ltd (AKTIA). aktia.com.