Board of Directors of Glaston Resolved on Continuing Incentive Plan for Key Employees

The board of directors of Glaston Corp. resolved to continue its share-based incentive plan for the Group key employees. The aim of the incentive plan is to align the objectives of the shareholders and the key employees in order to increase the value of the company in the long-term, to retain the key employees at the company and to offer them a competitive incentive plan that is based on earning and accumulating the company’s shares.

The Performance Share Plan 2019–2023 comprises three performance periods, calendar years 2019–2021, 2020–2022 and 2021–2023. The board of directors resolves on the plan’s performance criteria and on the performance levels at the beginning of each performance period. The key employees will receive the company’s shares as a reward, if the performance levels of the performance criteria, set by the board of directors, are achieved. As a rule, no reward will be paid, if a key employee’s employment or service terminates before the reward payment.

The CEO and each member of the executive management group of the company must hold 50 percent of the net number of shares he or she has received on the basis of the plan, until the number of the company’s shares he or she holds corresponds to the value of his or her gross annual base salary. Such number of shares must be held as long as such person’s employment or service in a company belonging to the group company continues.