Basware Corporation, stock exchange release, February 2, 2016, at 08:40
Basware establishes a new share-based incentive plan for key personnel for 2016-2019
The Board of Directors of Basware Corporation has decided to establish a new share-based incentive plan, directed to senior management and key personnel of the company. The share-based incentive plan is an element of annual bonus plan for the target group and will be linked to the employee's performance which will be measured for the full year of 2016. Each participating employee will be able to purchase Basware shares in April 2017, utilizing 25 percent of their achieved bonus reward. In the case an employee holds these purchased shares for a 2-year period, the company will provide a one-to-one match against these shares, to be paid to the employee after April 2019.
The aim of this plan is to reward performance and commit the key employees to the company whilst ensuring a competitive reward plan with a shareholding in the company. The matched shares to be distributed based on the plan in April 2019 amount at the target level to approximately 5,000 Basware Corporation shares (including also the proportion to be paid in cash).
The new incentive plan including a share-based element will be directed to approximately 40 people. The possible shares to be distributed to the employees in the plan will consist of own shares held by the company or new shares acquired in public trading through Nasdaq Helsinki Ltd.
The company has also other active share-based incentive plans. More information about the compensation of Basware's management is available on the company's investor pages at www.basware.com/investors.
For more information, please contact:
Hannu Vaajoensuu, Chairman of the Board, Basware Corporation
Tel. +358 40 501 8250