LINDEX GROUP plc, Other information disclosed according to the rules of the
Exchange 7.3.2025 at 16:00 EET
Share-based long-term incentive scheme for the key management of Lindex Group
and its divisions
The Board of Directors of Lindex Group plc (the "Company") has decided on the
establishment of a share-based long-term incentive scheme targeted to the key
management of the Company and its divisions (jointly the “Group”). The incentive
scheme consists of a Performance Share Plan (also “PSP”).
The objectives of the Performance Share Plan are to support the implementation
of the Company's strategy, to align the interests of the management with those
of the Company's shareholders and the retention of the management.
The Performance Share Plan consists of annually commencing individual Plans,
each with a three-year performance period, followed by the payment of the
potentially earned reward. The commencement of each individual plan is subject
to a separate Board approval in each case.
The first plan within the PSP structure, PSP 2025-2027, commences as of the
beginning of 2025 and the potential share reward thereunder will be paid during
H1 2028. The payment of the reward is conditional on the achievement of the
performance targets the Board of Directors has set for the performance period.
The potential reward will be paid in new shares issued by the Company or
treasury shares held by the Company. The Board of Directors has, however, for
special reasons, the right to decide that the reward is paid in cash.
The performance targets based on which the potential share reward under PSP
2025-2027 will be paid are the total shareholder return of the Company's share
and revenue, EBIT and ESG targets. Eligible to participate in PSP 2025-2027 are
approximately 20 individuals, including the members of the Group Management
Team.
If all the performance targets set for PSP 2025‒2027 are fully achieved, the
aggregate maximum number of shares to be paid based on this plan is
approximately 1.4 million shares (referring to gross earning, from which the
applicable payroll tax is withheld, and the remaining net value is paid to the
participants in shares).
The maximum value of rewards payable based on the Performance Share Plan is
limited by a share price development-based pay cap, the level of which the Board
of Directors sets.
The Board of Directors of the Company decides on the performance criteria,
persons eligible to participate in the Performance Share Plan and the amount of
the threshold, target and maximum reward separately for each individual Plan.
The payment of rewards under the Performance Share Plan is contingent upon the
Board of Directors' discretionary assessment of progress made toward completion
of the Company's restructuring programme and toward restoring the Company's
dividend payment ability.
If a participant's employment, service or other equivalent contractual
relationship with the Group terminates before the payment date of the reward,
he/she is, as a main rule, not entitled to any reward based on the Performance
Share Plan.
The Company applies a share ownership policy to the members of the Group
Management Team. According to this policy each member of the Group Management
Team is expected to retain in his/her ownership at least half of the shares
received under the Company's share-based incentive programme until the value of
his/her share ownership in the Company corresponds to at least his/her annual
gross base salary.
LINDEX GROUP plc
Sari Pohjonen
Chair of the Board
Further information:
Jukka Naulapää, Chief Legal Officer, tel.+358 50 389 0013
Distribution:
Nasdaq Helsinki
Principal media
Lindex Group plc is an international multichannel retail group with two
divisions: Lindex and Stockmann. Lindex is a global fashion company with a
purpose to empower and inspire women everywhere. Its three strong categories
include women's and kids' wear as well as lingerie, where it is a market leader
in the Nordics. Stockmann is a premium multi-brand retailer with department
stores in Finland and the Baltics. Its purpose is to be a marketplace for a good
life. In 2024, the Lindex Group's revenue was EUR 940 million and it had some 5
750 employees. The Group's roots lie in the Stockmann company founded in 1862
and its shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.lindex
-group.com (https://nam11.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.
lindex
-group.com%2F&data=05%7C02%7Cchristian.goingberg%40cision.com%7C26110e9475bc4a4f3
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