BUSINESS OPERATIONS AND VALUE CREATION
SUSTAINABILITY REPORT
FINANCIAL DEVELOPMENT
GOVERNANCE
Key characteristics of Performance based share incentive scheme 2017–2022 are summarised in the table below:
Performance based share incentive scheme 2017–2021
31 Dec 2022
2017–2019
2018–2020
2019–2021
Total
Key characteristics Shares allocated to the scheme, shares
275,278
280,694 2.4.2019, 13.6.2019, 12.8.2019
555,972
9.4.2018, 25.9.2018
Grant date(s)
Criteria
Equity ratio, ROCE ja EBIT
Equity ratio, ROCE ja EBIT
Personnel (31 December 2022)
23
Factors used to determine fair value (EUR) 1)
Share price at grant date Share fair value at grant date
8.64 7.84 0.27 9.43
5.82 5.20 0.31 8.86
Annual dividend assumption in fair value measurement Share price at payment date / balance sheet date
Fair value on balance sheet date
-
1,885,138
1,885,138
Effect on result and financial position (EUR)
Expense in 2022, share-based payments settled as equity Share-based payments settled in cash, unpaid part, estimate
467,242
381,372
848,614
-
-
0
Number of shares 1 January 2022 2) Outstanding at the beginning of the period
132,229
280,694
412,923
Changes during the year Shares granted
0 0
1,458 9,124
1,458 9,124
Shares forfeited Shares exercised Shares expired
132,229
0
132,229 99,455
0
99,455
Number of shares 31 December 2022 Outstanding at the end of the period
0
173,573
173,573
1) The fair value of the share settled component at the grant date was the share price of Metsä Board Corporation’s B share less any dividends estimated by analyst consensus to be paid before the payment of the incentive. The fair value of the share based payment is recognised to the number of shares based on the best available estimate of the total incentive to which the participants are expected to be entitled. 2) The amounts in the table represent net amounts, i.e. the number of shares to be given based on the share based payment schemes. In addition, the payment will include a cash settled component used to cover taxes and tax-like charges.
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