Company announcement No. 545, 2023
The Board of Directors of
The purpose of the LTIP is to motivate participants to pursue long-term key performance indicators (KPIs) that support H+H's long-term strategy and ensure alignment with the H+H shareholders. The theoretical value of the PSUs granted to a member of the Executive Board may not exceed 60% of the member's annual fixed salary at the time of grant (i.e. 12 x monthly fixed salary at grant). The number of PSUs that vests at the end of a vesting period depends on the extent of achievement of the KPI targets defined for the LTIP.
The terms of the 2023 LTIP are in accordance with the principles of the Remuneration Policy for Board of Directors and Executive Board of
The members of the Executive Board being the Chief Executive Officer ("CEO") and the Chief Financial Officer ("CFO"), the two other members of H+H Group Management as well as key employees in the H+H Group are eligible to participate in the LTIP and receive PSUs free of charge at grant. New participants may enter the LTIP after its commencement (e.g. if the participant is newly employed).
The vesting period is usually approximately 3 years, with grant of PSUs taking place approx. 2 weeks after release of an annual report, however, this year initiation of the 2023 LTIP was postponed. Accordingly, the vesting period for the 2023 LTIP will be approx. 2.4 years with vesting as normal in 2026 upon announcement of the audited annual report for 2025. At vesting, participants will receive one H+H share per PSU that vests.
At initiation of the 2023 LTIP, a total of 66,800 PSUs is granted to the participants, including 29,250 PSUs to CEO Jörg Brinkmann and 15,600 PSUs to CFO
The PSUs have no dilution effect on H+H shareholders, since H+H intends to use treasury shares to meet its obligations to deliver H+H shares under the LTIP at vesting.
Chair of the Board of Directors |
For further information please contact:
Head of Investor Relations &
+45 24 48 03 67
Nbk@hplush.com
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