EVLI BANK PLC’S STOCK EXCHANGE RELEASE FEBRUARY 12, 2021, AT 10.00 AM (EET/EEST)
Evli Bank Plc's Board of Directors has resolved to establish two new share-based incentive plans for selected key personnel of the company. Rewards paid based on the plans will be paid in Evli shares.
Under the Restricted Share Plan, the total number of shares to be paid as a reward will not exceed a total of 118,000 B-shares (gross amount before deduction of applicable withholding tax). The share-based incentive plan will be awarded in one installment in February 2021. The prerequisite for reward award and reward payment is that a participant's employment or service is in force. In addition, the Board of Directors may consider the participant's work contribution and the company's financial performance. The installment has a four-year deferral period. Ownership rights to the shares subject to the reward are transferred to the beneficiary only after the end of the deferral period in February 2025. The reward shares will be subject to a one-year transfer restriction.
Under the Performance Share Plan, the total number of shares to be paid as a reward will not exceed a total of 120,000 B shares (gross amount before deduction of applicable withholding tax). The reward is awarded in installments during 2021–2025 when the required performance criteria are met. In addition to meeting the performance criteria, the prerequisite for reward payment is that a participant's employment or service is in force. In addition, the Board of Directors may consider company's financial performance at the time of reward payment. Each installment has a three-year deferral period. Ownership rights to the shares subject to the reward are transferred to the beneficiary only after the end of the deferral period. The shares paid as a reward will be subject to a one-year transfer restriction.
The purpose of the share-based incentive plans is to support Evli's strategy and to align the goals of shareholders and selected key personnel to increase Evli's long-term value. In addition, the goal is to increase the commitment of key personnel to the company and provide them with a competitive compensation plan.
EVLI BANK PLC
Juho Mikola
CFO
For additional information, please contact:
Juho Mikola, CFO, Evli Bank Plc, tel. +358 40 717 8888, juho.mikola@evli.com
Evli Bank Plc
Evli is a bank specialized in investments that helps institutions, corporations and private persons increase their wealth. The product and service offering includes mutual funds, asset management and capital markets services, alternative investment products, equity research, incentive plan design and administration as well as Corporate Finance services. The company also offers banking services that support clients' investment operations. Evli is the highest ranked and most used institutional asset manager in Finland*.
Evli has a total of EUR 14.1 billion in client assets under management (net 12/2020). Evli Group's equity capital totals EUR 95.4 million and its BIS capital adequacy ratio is 15.2 percent (December 31, 2020). The company has around 250 employees. Evli Bank Plc's B shares are listed on Nasdaq Helsinki Ltd.
*KANTAR SIFO Prospera External Asset Management Finland 2015, 2016, 2017, 2018, 2019 and SFR Scandinavian Financial Research Institutional Investment Services, Finland 2015, 2016, 2017, 2018.
Distribution: Nasdaq Helsinki Ltd, main media, www.evli.com