CITYCON OYJ Stock Exchange Release22 March 2022 at 16:45 hrs
HELSINKI, March 22, 2022 /PRNewswire/ -- The Board of Directors of Citycon Oyj has approved a new Matching Share Plan 2022-2024 for the key employees of the Company.
The aim of the new plan is to combine the objectives of the shareholders and the key employees in order to increase the value of the company in the long-term, to bind the key employees to the company, and to offer them competitive reward plans based on acquiring and receiving the company's shares.
The new matching Share Plan 2022-2024 includes three matching periods, financial years 2022-2023, 2023-2024, 2024-2025. The prerequisite for participation in this plan and for reward payment is that a key employee invests in the company's shares a pre-determined percentage of the bonus earned from the company's performance bonus scheme during the calendar year preceding a matching period (the "Share Ownership Prerequisite"). If a key employee's Share Ownership Prerequisite is fulfilled and his or her employment or service is in force with a Citycon group company upon reward payment, he or she will receive free matching shares for shares subject to the Share Ownership Prerequisite.
The Matching Share Plan 2022-2024 is directed to the members of the Corporate Management Committee of Citycon Oyj (excluding the CEO and the CFO). The net rewards to be paid on the basis of this plan from the matching period 2022-2023 correspond to the value of an approximate maximum total of 16,100 Citycon Oyj shares. In addition, a cash proportion is included in the reward to cover taxes and tax-related costs arising from the reward to the participant. The rewards from the matching period 2022-2023 will be paid in 2024.
CITYCON OYJ
For further information, please contact:
Sakari Järvelä
Vice President, Corporate Finance and Investor Relations
Tel. +358 50 387 8180
sakari.jarvela@citycon.com
Citycon is a leading owner, manager and developer of mixed-use real estate featuring modern, necessity-based retail with residential, office and municipal service spaces that enhance the communities in which they operate. Citycon is committed to sustainable property management in the Nordic region with assets that total approximately EUR 4.5 billion. Our centres are located in urban hubs in the heart of vibrant communities with direct connections to public transport and anchored by grocery, healthcare and other services that cater to the everyday needs of customers.
Citycon has investment-grade credit ratings from Moody's (Baa3), Fitch (BBB-) and Standard & Poor's (BBB-). Citycon Oyj's shares are listed on Nasdaq Helsinki.
www.citycon.com
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