Stock option plans
The Company has issued stock option plans for its key employees, including top and middle management, and employees in certain expert positions. Stock option plans require a corresponding resolution by a General Meeting, and all plans have been unanimously adopted by the relevant General Meetings. Certain large institutional shareholders have adopted guidelines for stock option plans. These guidelines offer advice on the acceptable (maximal) dilution effect, levels of incentives, lock-up periods, length of programs, etc. The Company’s option plans have been designed to comply with these guidelines in all their essentials.
The purpose of the option schemes is to motivate key personnel to contribute to the long-term success of the Company and to create a common understanding of and commitment to the creation of shareholder value. A further purpose is to create a joint sense of common ownership among managers, which is seen as valuable for a company like Konecranes with operations covering many countries, cultures, and customer industries.
The Board decides on the distribution of options to key personnel under a proposal made by the President and CEO. In granting options to the President and CEO, the Board acts independently.
Konecranes Plc’s outstanding stock option plans include Option Series 2007B, 2009A, 2009B and 2009C. Stock Option Series 2007C was not distributed and, according to the terms and conditions of 2007C stock option, these stock options expired on December 31, 2009.
The stock options issued under Konecranes Plc’s ongoing stock option plans (2007 and 2009) entitle their holders to subscribe for a total of 3,144,200 shares. The option programs include approximately 220 key persons.
|
Stock option plan |
Maximum number of share subscriptions per plan |
Subscription price/share (EUR) |
Shares with one option |
Subscription period |
Terms and conditions |
|
2007 B |
1 000 000 |
25.72 |
1 |
|
|
|
2009 A
|
750 000
|
12.65*
|
1
|
April 1, 2012 -
|
*) The original subscription price was EUR 14.55.
**) The original subscription price was EUR 23.79.
Based on Konecranes Plc’s stock option plans, 2007 Series B and 2009 Series A stock options will entitle their holders to subscribe for shares in 2012 as follows:
| Share subscription deadline |
Entry into the Trade
|
New shares tradable
|
|||
| January 20, 2012* |
February 8, 2012 |
February 9, 2012 |
|||
| March 5, 2012* |
March 20, 2012 |
March 21, 2012 |
|||
| April 13, 2012 |
May 8, 2012 |
May 9, 2012 |
|||
| June 8, 2012** |
June 28, 2012 |
June 29, 2012 |
|||
| July 13, 2012 |
August 7, 2012 |
August 8, 2012 |
|||
| September 18, 2012 |
October 9, 2012 |
October 10, 2012 |
|||
| October 12, 2012 |
November 1, 2012 |
November 2, 2012 |
|||
| December 10, 2012 |
December 28, 2012 |
January 2, 2013 |
|||
|
January 21, 2013 |
February 12, 2013 |
February 13, 2013 |
*) Entitled to dividend for 2011.
**) 2007B stock options will expire on April 30, 2012.
Share subscriptions will be accepted at Evli Bank Plc.
