The Board of Directors of Orion Corporation has decided on a new share-based incentive plan for the Group key persons. The aim of the Plan is to combine the objectives of the shareholders and the key persons in order to increase the value of the Company, to commit the key persons to the Company, and to offer them a competitive reward plan based on holding the Company’s shares.
The Plan includes three earning periods, which are the calendar years 2022–2024, 2023–2025 and 2024–2026. The Board of Directors decides on the earnings criteria and on targets to be established for them at the beginning of each earning period. The potential reward of the Plan for the earning period 2022-2024 is based on achieving the Orion Group’s operating profit and net sales targets.
The potential reward will be paid partly as the Company’s class B shares and partly in cash after the end of each earning period. The proportion to be paid in cash is aimed to cover taxes and tax-related costs arising from the reward to a key person. The Board of Directors may decide to decrease the rewards to be paid to a key person if the limits set for the rewards to be paid from the Plan for one calendar year are exceeded.
As the duration of each earning period is three years, there are no restriction periods in the Plan.
The target group of the Plan consists of approximately 60 people. The total maximum amount of rewards to be paid on the basis of the Plan is 760 000 Orion Corporation class B shares and a cash payment corresponding to the value of the shares. The total maximum amount includes a separate, so called reward for commitment part that the Board of Directors can use by a separate decision during the years 2022–2026. The maximum amount of the reward for commitment is no more than 100 000 shares and a cash payment corresponding to the value of the shares.
Orion Corporation
| Timo Lappalainen President and CEO | Olli Huotari SVP, Corporate Functions |
Contact person:
Olli Huotari, SVP, Corporate Functions, tel. +358 10 426 3054, mobile +358 50 966 3054
Publisher:
Orion Corporation
Communications
Orionintie 1A, FI-02200 Espoo, Finland
http://www.orion.fi/en
http://www.twitter.com/OrionCorpIR
Orion is a globally operating Finnish pharmaceutical company – a builder of well-being. Orion develops, manufactures and markets human and veterinary pharmaceuticals and active pharmaceutical ingredients. The company is continuously developing new drugs and treatment methods. The core therapy areas of Orion's pharmaceutical R&D are neurological disorders, oncology and respiratory diseases for which Orion develops inhaled pulmonary medication. Orion's net sales in 2021 amounted to EUR 1,041 million and the company had about 3,350 employees at the end of the year. Orion's A and B shares are listed on Nasdaq Helsinki.
