Ended option schemes and share-based incentive plans

 

Option-based incentive plan 2010
 
The Annual General Meeting held on March 31, 2010 resolved to issue stock options to the key personnel of Raute Group. The stock options were offered to key personnel of Raute Group separately determined by the Board of Directors in 2010-2013. The stock options were issued free of charge.
 
The total number of stock options was 240,000. Each stock option entitled the subscription for or acquisition of one (1) series A share. Of the stock options, a total of 80,000 were marked with the symbol 2010 A (2010), a total of 80,000 with the symbol 2010 B (2011) and a total of 75,000 with the symbol 2010 C (2012). A total of 80,000 series were subscribed for with stock options 2010 A during the period March 1, 2013 to March 31, 2016, 80,000 shares with stock options 2010 B during the period March 1, 2014 to March 31, 2017 and 75,000 shares with stock options 2010 C during the period March 1, 2015 to March 31, 2018. 
 

Terms and conditions of the 2010 option plan

Share-based incentive program 2014-2018 (LTI2014, LTI2015, LTI2016)

On February 12, 2014, the Board of Directors of Raute Cor­poration decided on the establishment of a new long-term performance based share incentive program (Performance Share Plan) for Raute Group's top management.

The plan includes three individual share plans, commencing in 2014 (LTI2014), 2015 (LTI2015) and 2016 (LTI2016). 

The length of each share plan is three years consisting of

  • a one-year performance and
  • a two-year restriction period following the performance period.

During the restriction period the development of the value of the reward is based on the development of the value of the Company's share. The par­ticipant of the program may not sell or otherwise transfer the shares received as a reward during the restriction peri­od.

The Board of Directors of the Company decided separately on the participants of each commencing share plan and on the performance criteria applicable to the performance pe­riod of each share plan, the target setting thereof and the target and maximum levels of the payable reward.

Terms and conditions of the Share-based incentive program 2014-2018

LTI2014 Share plan

The LTI2014 Share plan included 11 members of the Group's top manage­ment as participants, including the members of the Execu­tive Board. The performance criteria of the share plan 2014 were earnings per share (EPS) and revenue growth. No share reward was paid for the earning period 2014.

LTI2015 Share plan
The LTI2015 Share plan included 11 members of the Group's top manage­ment as participants, including the members of the Execu­tive Board. The performance criteria of the share plan 2015 were earnings per share (EPS) and revenue growth. The bonuses paid consisted of 14,523 of the company's series A shares. The corresponding tax portion was paid in cash. The vesting period has ended at the beginning of 2018.

LTI2016 Share plan
The LTI2016 Share plan 2016 includes 12 members of the Group's top manage­ment as participants, including the members of the Execu­tive Board. The performance criteria of the share plan 2016 were earnings per share (EPS) and revenue growth. The bonuses paid consisted of 8,913 of the company's series A shares. The corresponding tax portion was paid in cash. The vesting period will end at the beginning of 2019.

Share-based incentive plan 2006-2008

On March 22, 2006, the Board of Directors of Raute Corporation approved a
share-based incentive plan. The earning period started on 1 January 2006 and ended on 31 December 2008.

The amount of the reward paid on the basis of the plan, was bound to Raute's operating profit (weight 75%) and on the evaluation of the Board of Directors' on e.g. the materialization of the strategy (weight +/- 25%). The reward from the plan was paid as combination of shares and cash payment.

On 27 March 2009, Raute Corporation conveyed 18,900 Raute's series A shares held by the company gratuitously to 17 key persons of the company's share-based incentive plan. The shares earned through the plan had to be held for a minimum of two years after the date of payment, until 23 March 2011.


Bond loan with warrants 1998

Accordingly its rules, Raute Corporation's 1998 bond loan with warrants ended on 30 September 2006.

The last subscriptions of 115,300 pcs of series A shares with B warrants related to the 1998 Raute bond loan with warrants were made during August-September 2006.

The registration date of the shares was 2 November 2006. The new shares were traded on the Nordic list of Helsinki Stock Exchange together with the old shares on 3 November 2006.

The total amount of B warrants related to the Raute bond loan with warrants was 212,500 pcs. 22,350 pcs of warrants remained unsubscribed.

Rules of Raute Corporation's 1998 bond loan with warrants