Wärtsilä Corporation’s Board of Directors has decided on a new long-term share-based incentive scheme, as well as on the following share ownership recommendation policy with regard to the members of Wärtsilä’s Board of Management:
Each Board of Management member is expected to accumulate and, once achieved, maintain a share ownership in Wärtsilä which at least corresponds to the individual’s annual gross base salary. Board of Management members shall acquire Wärtsilä shares with 50% of the net bonuses received under the company’s long-term bonus scheme until the above share ownership level has been achieved. The shares shall be acquired by a third party stock broker from the stock market during the ten consecutive trading days following the publication of Wärtsilä’s financial results for the final year of each individual bonus scheme.
Wärtsilä’s bonus scheme 2016 comprises 2,139,000 bonus rights. The bonus payment is based on the share price development during the three-year period on the basis of a share price of EUR 48.57. The bonus cannot exceed EUR 18.21 per bonus right and it takes into account 100% of dividends paid. The 2016 bonus scheme will be due for payment in February 2020. The bonus scheme applies to Wärtsilä’s senior management, consisting of approximately 100 directors.
The principles relating to Wärtsilä’s long-term incentive schemes are further described in the company’s Salary and Remuneration Report and on its website.
For further information, please contact:
Executive Vice President, Corporate Relations and Legal Affairs
Tel. +358 10 709 5609
Director, Investor & Media Relations
Tel: +358 10 709 5637
Wärtsilä in brief
Wärtsilä is a global leader in advanced technologies and complete lifecycle solutions for the marine and energy markets. By emphasising sustainable innovation and total efficiency, Wärtsilä maximises the environmental and economic performance of the vessels and power plants of its customers. In 2016, Wärtsilä's net sales totalled EUR 4.8 billion with approximately 18,000 employees. The company has operations in over 200 locations in more than 70 countries around the world. Wärtsilä is listed on Nasdaq Helsinki.