DNA's Board of Directors decides on new performance period for the long-term incentive plan
DNA PLC STOCK EXCHANGE RELEASE 20 DECEMBER 2018 at 12:00 noon (EET)
DNA has a Performance Share Plan (PSP) for senior executives and other key employees. The PSP consists of three separate three-year performance periods; 2017-2019, 2018-2020 and 2019-2021.
The programme PSP 2019-2021 starts at the beginning of 2019. Any share-based rewards earned through it will be paid in the spring of 2022. The performance targets applied to the programme are DNA's EBITDA development over the period 2019-2021 and DNA's total shareholder return compared to a peer group over the period 2019-2021. The programme has around 70 participants, and the maximum number of shares to be distributed will be 382,158 (the gross amount from which the applicable withholding tax will be deduced, and the remaining net amount will be paid as shares).
DNA adheres to the recommendation on the shareholdings of the group Executive Team. According to the recommendation, each Executive Team member should own a share in the company, which corresponds to his or her annual fixed gross salary. In order to achieve the recommended ownership, the Executive Team members must retain ownership of at least 50 per cent of the shares they have received through share-based incentive systems (calculated based on the net amount of shares left after the deduction of the applicable withholding tax), until the person's share in DNA is in line with the recommendation.
The share-based incentive systems will not have a dilutive effect. DNA has issued a stock exchange release for the incentive plans on 31 January 2017.
Marko Rissanen, Senior Vice President, Human Resources, DNA Plc, +358 44 220 3230, email@example.com
Marja Mäkinen, Head of Investor Relations, DNA Plc, +358 44 044 1262, firstname.lastname@example.org
DNA Corporate Communications, +358 44 044 8000, email@example.com
DNA Plc is a Finnish telecommunications group providing high-quality voice, data and TV services for communication, entertainment and working. DNA is Finland's largest cable operator and the leading pay TV provider in both cable and terrestrial networks. For DNA, the key area for growth in corporate business is the new way of working, independent of time and place, facilitated by smart terminal devices, diverse communications services and rapid connections. In 2017, DNA recorded net sales of EUR 886 million and an operating profit of EUR 124 million. DNA has more than 4 million subscriptions in its fixed and mobile communications networks. The Group also includes DNA Store, Finland's largest retail chain selling mobile phones. DNA shares are listed on Nasdaq Helsinki Ltd. For further information, visit www.dna.fi or follow us on Twitter @DNA_fi and Facebook.