Lamor establishes a new long-term performance share plan for key employees

16.2.2024 08:50:01 EET | Lamor Corporation Oyj | Other information disclosed according to the rules of the Exchange

Lamor Corporation Plc                    Stock exchange release             16 February 2024 at 08:50 a.m. EET

Lamor establishes a new long-term performance share plan for key employees

The Board of Directors of Lamor Corporation Plc has resolved to establish a new share-based incentive plan for the CEO and the Group Leadership Team. The purpose of the plan is to align the interests of the company’s shareholders and key employees to increase the company’s value in the long-term, to retain the key employees at the company and to offer them a competitive incentive plan based on earning and accumulating the company´s shares.

The Performance Share Plan 2024–2026 consists of one performance period, covering the financial years 2024–2026.

In the plan, the target group has an opportunity to earn Lamor’s shares based on performance. The performance criterion of the plan is tied to a volume weighted average of the share price. The potential rewards from the plan will be paid during the financial years 2025–2027.

The value of the rewards to be paid on the basis of the plan corresponds to a maximum total of 700,000 Lamor shares, including also the proportion to be paid in cash. The target group consists of approximately 9 key employees, including the members of the Group Leadership Team and the CEO.

The potential reward will be paid partly in Lamor’s shares and partly in cash. The cash proportion of the reward is intended to cover taxes and statutory social security contributions arising from the reward to the participants. As a rule, no reward will be paid if the key employee’s employment or CEO contract terminates before the reward payment.

The Group Leadership Team members must hold 50 per cent of the received shares, until the value of his or her total shareholding in Lamor equals to 50 per cent of his or her annual base salary for the calendar year preceding the payment of the reward. Respectively, the CEO must hold all of the received shares, until the value of the CEO’s total shareholding in Lamor equals 100 per cent of the CEO’s annual base salary for the preceding calendar year. Such number of Lamor’s shares must be held as long as the membership in the Group Leadership Team or the position as the CEO continues.

Lamor Corporation Plc
Board of Directors

Further enquiries:

Johan Grön, CEO, Lamor Corporation Plc
tel. +358 40 546 4186, johan.gron@lamor.com

Lamor in brief

Lamor is one of the world’s leading providers of environmental solutions. For four decades, we have worked to clean up and prevent environmental incidents on land and at sea.

Environmental protection, soil remediation and material recycling: Our innovative technologies, services and tailored solutions, ranging from oil spill response, waste management and water treatment to soil remediation and plastic recycling, benefit customers and environments all over the world.

We are capable of vast and fast operations thanks to our connected ecosystem of local partners, steered by our experts. We have over 500 employees in more than 20 countries. In 2022, our turnover was 128 million euros. Lamor's share is listed on the Nasdaq Helsinki (ticker: LAMOR). Further information: www.lamor.com