Decision on Konecranes Plc’s Performance share plan criteria for performance period 2019-2021
KONECRANES PLC STOCK EXCHANGE RELEASE March 28, 2019 at 6:00 pm EET
DECISION ON KONECRANES PLC’S PERFORMANCE SHARE PLAN CRITERIA FOR PERFORMANCE PERIOD 2019-2021
The Board of Directors of Konecranes Plc has resolved that the performance criteria for the performance period 2019–2021 under the company's Performance Share Plan (the "Plan") are the cumulative adjusted Earnings per Share (EPS) and the cumulative annual growth rate (CAGR) for Sales of the financial years 2019—2021. Adjustments to the EPS include defined restructuring costs, purchase price allocation amortization and certain other unusual items. The Board of Directors has also resolved on certain technical amendments to the terms and conditions of the Plan.
The target group of the Plan for the performance period 2019—2021 consists of a maximum of 200 key employees of the Konecranes group. The rewards to be paid on the basis of the performance period 2019—2021 correspond to the value of a maximum total of 670,000 Konecranes Plc shares. If the target determined by the Board of Directors is attained, the reward payout may be half of the maximum reward. The maximum reward payout requires that the target is clearly exceeded.
The Annual General Meeting of Shareholders held on March 28, 2019 authorized the Board of Directors to decide on the issue of shares or the transfer of treasury shares needed for the implementation of the Plan.
The launch and essential terms and conditions of the Plan have been published in a stock exchange release on June 16, 2017.
Vice President, Investor Relations
Mr. Eero Tuulos, Vice President, Investor Relations, tel. +358 20 427 2050
Konecranes is a world-leading group of Lifting Businesses™, serving a broad range of customers, including manufacturing and process industries, shipyards, ports and terminals. Konecranes provides productivity enhancing lifting solutions as well as services for lifting equipment of all makes. In 2018, Group sales totaled EUR 3,156 million. The Group has 16,100 employees at 600 locations in 50 countries. Konecranes shares are listed on the Nasdaq Helsinki (symbol: KCR).