The Board of Directors of Konecranes Plc has resolved to establish a new Performance Share Plan 2022 for Konecranes key employees. The Plan has a performance period from 2022 to 2024 with three separate measurement periods and separate targets for 2022, 2023 and 2024.
The criterion for the measurement period 2022 is adjusted earnings per Share (EPS). Adjustments to the EPS include defined restructuring costs, mergers and acquisitions related deal costs and other unusual items. The EPS target for the first measurement period has also been resolved by the Board of Directors.
The target group of the Plan for the performance period 2022—2024 consists of a maximum of 170 key employees of the Konecranes group. The rewards to be paid based on the Plan correspond to the value of a maximum total of 600,000 Konecranes Plc shares. The payment of the total reward takes place in 2025 if the plan term conditions are met.
The potential rewards from the Plan will be paid partly in Konecranes Plc shares and partly in cash after the performance period. The cash proportion is intended to cover taxes and tax-related costs arising from the rewards to the plan participants. As a rule, no reward will be paid if plan participant’s employment or service ends before the reward payment.
The Board of Directors proposes to the Annual General Meeting of Shareholders to be convened later this year, that the Board of Directors be authorized to decide on the share issue, or the transfer of treasury shares needed for the implementation of the Plan.
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