Annual profit sharing plan
Aspocomp has an annual profit sharing plan covering all employees. The plan pays cash bonuses based on pre-set targets for net sales, operating income and operating cash flow. The Board determines the targets and criteria for bonus payment annually.
A share-based long-term incentive scheme, PSP
The Board of Directors of Aspocomp Group Plc decided on the establishment of a share-based long-term incentive scheme for the company’s top management and selected key employees on July 20, 2022. It comprises a Performance Share Plan (also “PSP”).
The objectives of the Performance Share Plan are to align the interests of Aspocomp’s management with those of the company’s shareholders and, thus, to promote shareholder value creation in the long term as well as to commit the management to achieving Aspocomp’s strategic targets.
The Performance Share Plan consists of annually commencing individual performance share plans. The commencement of each new plan is subject to a separate decision of Aspocomp’s Board of Directors.
Each plan comprises a performance period followed by the payment of the potential share rewards in listed shares of Aspocomp. The payment of the rewards is conditional on the achievement of the performance targets set by the Board of Directors for the respective plan.
The performance period of the first plan, PSP 2022 – 2024, covers the period from the beginning of July 2022 until the end of the year 2024. The share rewards potentially payable thereunder will be paid during the first half of the year 2025. The possible subsequent plans will include a three-year performance period as in each case separately decided by the Board of Directors. Read more here.
The Board of Directors of Aspocomp Group Plc has approved the commencement of a new performance period within the share-based long-term incentive scheme for the company’s top management and selected key employees. The next plan within the PSP structure, PSP 2023-2025, commences as of the beginning of 2023 and the share rewards potentially earned thereunder will be paid during H1 2026. The payment of the rewards is conditional on the achievement of the performance targets set by the Board of Directors for the plan. Read more here.