STORA ENSO OYJ STOCK EXCHANGE RELEASE 25
October 2023 at 9:00 EEST
HELSINKI, Oct. 25,
2023 /PRNewswire/ -- The Board of Directors of
Stora Enso has decided on a CEO Performance Share Plan for
2023–2025 under the Company's share-based long-term incentive
programme. This plan aims to support the long-term shareholder
value creation and considers the change in leadership. Due to the
CEO change on 18 September 2023,
there are deviations from Stora Enso's Remuneration Policy
2022.
The long-term incentive plan consists of performance shares
(Performance Share Plan) with a two-year vesting period. The
long-term incentive plan includes targets related to balance sheet,
capital expenditure, strategy and sustainability. The potential
payout is based on the Company's performance in relation to the
targets over the two-year plan period. Share reward will be paid in
Stora Enso R shares. The maximum value of the plan is set at
EUR 2 million at grant, which
corresponds to approximately 169,420 shares at the share price on
18 September 2023.
No new shares will be issued in connection with the execution of
the plan, and there is no dilutive effect on the number of Stora
Enso's registered shares. Besides attainment of the performance
criteria, the share reward is subject to continuation of
employment. The share rewards earned within the CEO Performance
Share Plan for 2023–2025 will be delivered in the fourth quarter of
2025. Applicable taxes will be deducted before shares are
delivered.
Further details about the CEO remuneration and deviation from the
policy will be published in Stora Enso's Remuneration Report 2023
which will be part of the Annual Report.
For further information, please contact:
Carl Norell
SVP Corporate Communications
tel. +46 72 2410349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 2107691
Part of the global bioeconomy, Stora Enso is a leading
provider of renewable products in packaging, biomaterials and
wooden construction, and one of the largest private forest owners
in the world. We believe that everything that is made from
fossil-based materials today can be made from a tree tomorrow.
Stora Enso has approximately 21,000 employees and our sales in 2022
were EUR 11.7 billion. Stora Enso
shares are listed on Nasdaq Helsinki Oy (STEAV, STERV) and Nasdaq
Stockholm AB (STE A, STE R). In addition, the shares are
traded in the USA as ADRs and
ordinary shares (SEOAY, SEOFF, SEOJF).
storaenso.com/investors
STORA ENSO OYJ
For further information, please
contact:
Carl Norell
SVP Corporate Communications
tel. +46 72 2410349
Investor enquiries:
Anna-Lena Åström
SVP Investor Relations
tel. +46 70 2107691
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