United Bankers Plc establishes a new long-term incentive plan (LTIP) for the Management Team
United Bankers Plc
STOCK EXCHANGE RELEASE 22 January 2025 at 16:30 EET
United Bankers Plc establishes a new long-term incentive plan (LTIP) for the Management Team
The Board of Directors of United Bankers Plc has resolved to establish a new share-based incentive plan for the Management Team, including the CEO. The purpose of the plan is to align the interests of the company’s shareholders and Management Team to increase the company’s value in the long-term, to commit Management Team members to implement the company's strategy, objectives and long-term interest and to offer them a competitive incentive plan based on earning and accumulating the company´s shares. In addition, the Board has established a cash-based short-term incentive plan for the Management Team.
The Performance Share Plan consists of annually commencing performance periods. The first performance period covers the financial years 2025–2027. The Board of Directors will resolve annually on the commencement and details of a performance period.
In the plan, the target group has an opportunity to earn United Bankers shares based on performance. The performance criteria of the performance period 2025–2027 are tied to EBIT, Cashflow-generating AUM and Environmental Criterion.
The potential rewards from the plan will be paid after the end of the performance period.
The potential reward is paid partly in United Bankers’ shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the participant. As a rule, no reward will be paid if the participant’s employment or director contract terminates before the reward payment.
The target group in the performance period 2025–2027 consists of all six members of the Management Team, including the CEO. The value of the rewards to be paid on the basis of the first performance period 2025–2027 corresponds to a maximum total of 75,000 shares of United Bankers, including also the proportion to be paid in cash. The total value of the performance period 2025–2027, estimated based on the volume weighted average share price on the trading day preceding this release, is approximately EUR 1.3 million. Shares issued to the participants may be either new shares or treasury shares held by the company acquired from the market, or both.
The participants are obliged to hold 100 per cent of the received shares, until the value of the participant’s total shareholding in United Bankers equals to 100 per cent of the participant’s annual base salary for the calendar year preceding the payment of the reward. Such number of United Bankers shares shall be held as long as the membership in the Management Team or the position as the CEO continues.
The share-based incentive plan is not expected to have a significant effect on the share price of the company. The plan will enable the company to meet regulatory requirements for management remuneration. In addition, the plan binds the long-term goals of the management and the company’s other shareholders together.
Further information:
Johan Linder, Chair of the Board, United Bankers Plc
Email: johan.linder@unitedbankers.fi
Phone: +358 400 603 830, +358 9 25 380 221
Nina Rosenlew, General Counsel, United Bankers Plc
Email: nina.rosenlew@unitedbankers.fi
Phone: +358 40 522 6519, +358 9 25 380 261
United Bankers in brief:
United Bankers Plc is a Finnish expert on wealth management and investment markets, established in 1986. United Bankers Group’s business segments include wealth management and capital markets services. In asset management, the Group specialises in real asset investments. United Bankers Plc is majority-owned by its key personnel and the Group employs 160 employees (FTE) and 31 agents (30 June 2024). In 2024, the United Bankers Group’s revenue totalled EUR 52.1 million and its adjusted operating profit amounted to EUR 16.9 million. The Group’s assets under management amount to approximately EUR 4.6 billion (30 June 2024). United Bankers Plc’s shares are listed on Nasdaq Helsinki Ltd. The Group companies are subject to the Finnish Financial Supervisory Authority’s supervision. For further information on United Bankers Group, please visit unitedbankers.fi.
DISTRIBUTION:
Nasdaq Helsinki
Main media
unitedbankers.fi