YIT launches a new long-term share-based incentive scheme for key persons
The Board of Directors of YIT Corporation decided on March 16, 2020, to launch a new long-term share-based incentive scheme for key persons.
The earning periods of the incentive scheme are for three years. A potential bonus will be determined on the basis of the indicators decided annually by the Board of Directors of YIT Corporation for each earning period and their target levels. Return on capital employed, absolute TSR (Total Shareholder Return) and the Group’s Net Promoter Score (NPS) have been set for 2020-2022. The Board of Directors also decides on the approximately 260 key persons from different YIT countries to be included in the incentive scheme for each earning period.
After the three-year earning period and the confirmation of the annual report, the shares are transferred to key persons employed by the company. A maximum of approximately 2,100,000 gross shares can be distributed each year. Furthermore, the Board of Directors recommends that the Group Management Team member aims to hold along with the long-term incentive program YIT shares with the value of half of his/her annual salary as long as he/she is the member of the Group Management Team. The President and CEO aims to hold YIT shares with the value equivalent to his annual salary. Under all circumstances, the Board of Directors has the right to amend the bonuses in a reasonable manner.
The target of YIT’s remuneration policy is to strengthen the company culture and shareholder value creation, motivate and commit personnel, support to retain and recruit the talents needed, as well as promote strategy execution.
For further information, please contact:
Pii Raulo, Executive Vice President, Human Resources, YIT Corporation, tel. +358 40 572 3568, firstname.lastname@example.org
Tommi Järvenpää, Vice President, Investor Relations, YIT Corporation, tel. +358 40 576 0288, email@example.com
Vice President, Investor Relations
Distribution: NASDAQ Helsinki, key media, www.yitgroup.com
YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic countries, Czech Republic, Slovakia and Poland. Our revenue in 2019 was approximately EUR 3.4 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com