Glaston Corporation STOCK EXCHANGE RELEASE 14 February 2025 8:45 EET
The Board of Directors of Glaston Corporation has resolved on the share-based
incentive plan 2025−2029 for the Group key employees in accordance with the
terms and conditions materially corresponding to the terms and conditions of the
share-based incentive plan 2019−2023.
The aim of the incentive plan is to align the objectives of the shareholders and
the key employees in order to increase the value of the company in the long
term, to retain the key employees at the company, and to offer them a
competitive incentive plan that is based on earning and accumulating the
company's shares.
The share-based incentive plan 2025−2029 comprises three performance periods,
calendar years 2025−2027, 2026−2028, and 2027−2029. The Board of Directors
resolves on the plan's performance criteria and on the performance levels at the
beginning of each performance period. The key employees will receive the
company's shares as a reward, if the performance levels of the performance
criteria, set by the Board of Directors, are achieved. As a general rule, no
reward will be paid, if a key employee's employment or service terminates before
the reward payment.
The CEO and President and each member of the Executive Leadership Team of the
company must hold 50% of the net number of shares he or she has received on the
basis of the plan until the number of the company's shares he or she holds
corresponds to the value of his or her gross annual base salary. Such number of
shares must be held as long as such person's employment or service in a company
belonging to the Group Company continues.
Performance Period 2025−2027
The potential reward of the performance period 2025−2027 will be based on the
Glaston Group's Cumulative comparable EBITA, cumulative Service Net Sales and
annual Earnings per Share, EPS during the period of 1 January 2025−31 December
2027. If the performance levels of the performance criteria for the performance
period 2025−2027 are achieved in full, the payable rewards correspond to a
maximum total of 796,000 Glaston Corporation shares, including also the
proportion to be paid in cash.
The potential reward from the performance period 2025−2027 will be paid in 2028
in a manner resolved by the Board of Directors, either partly in the company's
shares and partly in cash, in which case the cash proportion is intended to
cover taxes and tax-related costs arising from the reward to the key employee,
or fully in cash.
The reward to be paid on the basis of the plan may be reduced if the reward cap
set by the Board of Directors is reached.
In total 14 key persons, including the company's key executive leaders, belong
to the target group of the plan in the performance period 2025-2027.
Glaston Corporation
The Board of Directors
Further information:
Riikka Laitasalo, SVP People and Culture, tel +358 10500 500
Glaston in brief
Glaston is the glass processing industry's innovative technology leader
supplying equipment, services and solutions to the architectural, automotive,
solar and appliance industries. The company also supports the development of new
technologies integrating intelligence to glass.
Glaston is committed to providing its clients with both the best know-how and
the latest technologies in glass processing, with the purpose of building a
better tomorrow through safer, smarter, and more energy efficient glass
solutions. Glaston operates globally with manufacturing, services, and sales
offices in nine countries and its shares (GLA1V) are listed on Nasdaq Helsinki
Ltd.
Distribution: Nasdaq Helsinki Ltd, key media, www.glaston.net.