Elisa Oyj: Board of Directors of Elisa Corporation issues resolution on incentive plan for key employees

The Board of Directors of Elisa Corporation resolved on 31 January 2024 to establish a new, share-based incentive plan for key employees of the group. The purpose of the plan is to align the interests of the company's shareholders and key employees to increase the company's value in the long term, to commit key employees to implementing the company's strategy, objectives and long-term interests, and to offer them a competitive incentive plan based on earning and accumulating shares in the company. The Performance-based Share Plan 2024-2028 consists of three performance periods covering the financial years 2024-2026, 2025-2027 and 2026-2028. The Board of Directors will resolve annually on the commencement and details of each performance period.

The Board of Directors of the company has now resolved on the plan's performance criteria and the required performance levels for each criterion for the performance period 2025-2027. The potential rewards from the plan from the performance period 2025-2027 will be based on Elisa's earnings per share (weight 60%), on the revenue growth of strategy focus areas (weight 30%), on the Employee Engagement Score (weight 5%) and on CO₂ emission reductions (weight 5%).

The rewards to be paid based on this performance period correspond to the value of a maximum total of 460,000 Elisa shares, including the part to be paid in cash. The performance period 2025-2027 is directed at approximately 220 people, including the members of the Corporate Executive Board and the CEO.

The potential rewards will be paid partly in shares in the company and partly in cash. The cash part is intended to cover taxes and tax-related costs arising from the reward to the participant. As a rule, no reward will be paid if a participant's employment or service ends before the reward payment.

A member of the Corporate Executive Board must hold a minimum of 50 per cent of the net reward shares awarded based on the plan until their total shareholding in Elisa corresponds to the value of their annual base salary in the calendar year preceding the payment of the reward. Correspondingly, the CEO must hold 50 per cent of the net reward shares received from the plan until the CEO's holding in Elisa is equal to 100 per cent of the CEO's annual base salary for the previous year. This number Elisa shares must be held for as long as the person in question remains a member of the Corporate Executive Board or holds the position of CEO.

ELISA CORPORATION 

Vesa Sahivirta 
IR Director 
+358 50 520 5555 

Distribution: 

Nasdaq Helsinki 
Principal Media 
elisa.com