Nordea Bank Abp
Stock exchange release - Other information disclosed according to the rules of the Exchange
28 January 2025 at 15.15 EET
Nordea Bank Abp's ("Nordea") Board of Directors has today decided to continue the share-based Long Term Incentive Plan (LTIP) launched annually from 2020 for a new performance period covering the financial years 2026-2028. It includes the CEO and ten other members of the Group Leadership Team (GLT) and approximately 60 senior leaders.
Nordea wants to ensure that management incentives are aligned with the shareholders' interests. In support of this, the Board has decided to continue the share-based LTIP that has been approved and launched annually from 2020. The LTIP for 2026-2028 will cover members of the GLT and approximately 60 senior leaders and key employees whose efforts have a direct impact on Nordea's results, profitability, customer vision and long-term growth.
As part of the LTIP, the members of the GLT and senior leaders will be allocated conditional shares in 2026. These conditional shares have a three-year performance period covering the financial years 2026-2028, with subsequent deferral and retention periods according to applicable regulations.
The total maximum number of shares that can be granted to participants as part of the LTIP 2026-2028 is 667,237, Nordea shares for the CEO and members of the GLT, and a maximum of 1,000,000 Nordea shares for selected senior leaders (approximately 60 participants). In 2029, based on Nordea's performance, the maximum number of shares or a proportion of these will be granted to the participants. Once shares are granted, if any, the first portion of the shares is delivered in 2029, and the rest of the shares are deferred and delivered annually in five equal portions during 2030-2034. Each share delivery is subject to a 12-month retention period, during which the delivered shares cannot be sold or otherwise disposed of.
The conditional allotment of shares for GLT members in 2026 will remain broadly at the same levels as in 2025.
The estimated aggregate gross value of the LTIP 2026-2028 for the GLT and for senior leaders, calculated on the basis of the average share price on the Nasdaq Helsinki exchange yesterday, is approximately EUR 10.8 million.
The LTIP performance requirements have been set so that the maximum outcome will require achieving exceptional financial and sustainability performance. The assessment of performance during the LTIP performance period will be based on the following performance criteria:
- Total shareholder return
- Cumulative adjusted earnings per share (aEPS)
- ESG scorecard: Lending, investments and internal operations emission reduction, gender balance, fair treatment and credit profile
No shares will be granted if the participant's employment terminates before confirmation of the award by the Board of Directors after the end of the performance period. Share grants may be reduced in part or in full subject to risk and compliance adjustments.
The LTIP shares will be delivered to the participants either through transfer of own shares held by Nordea or by issuing new shares. Thus, the share delivery may have a marginal dilutive effect on the Nordea share.
For further information:
Ilkka Ottoila, Head of Investor Relations, +358 95 300 7058
Media inquiries, +358 10 416 8023 or press@nordea.com
The information provided in this stock exchange release was submitted for publication, through the agency of the contacts set out above, at 15.15 EET on 28 January 2026.
Nordea is a leading Nordic financial services group and the preferred choice for millions of customers across the region. For more than 200 years, we have proudly served as a trusted financial partner for individuals, families and businesses - enabling dreams and aspirations for a greater good. Our vision is to be the best-performing financial services group in the Nordics, accelerating through our scale, people and technology. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges.
