Key characteristics of Performance based share incentive scheme 2020–2024 are summarised in the table below:
Performance based share incentive scheme 2020–2024
Committing based share incentive plan
31 Dec 2022
2020–2022
2021–2023
2022–2024
2022–2024
Total
Key characteristics Shares allocated to the scheme, shares
590,788
453,650
437,545
20,838
1,502,821
Grant date(s)
27.1.2020, 18.6.2021 27.1.2021, 18.6.2021 31.1.2022, 8.11.2022
Criteria
Equity ratio, ROCE ja EBIT
Equity ratio, ROCE ja EBIT
Equity ratio, ROCE ja EBIT
Personnel (31 December 2022)
29
Factors used to determine fair value (EUR) 1)
Share price at grant date Share fair value at grant date
5.46 4.66 0.27 8.77
8.93 8.15 0.27 8.77
9.44 8.21 0.41 8.77
7.74 6.68 0.53 8.77
Annual dividend assumption in fair value measurement Share price at payment date / balance sheet date
Fair value on balance sheet date
2,518,231
3,455,866
3,501,355
139,198
9,614,650
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
613,037
704,746 1,814,267
635,046 1,845,466
16,512 98,210
1,969,340 6,198,558
2,440,615
Number of shares 1 January 2022 2) Outstanding at the beginning of the period
588,566
429,281
0
0
1,017,847
Changes during the year Shares granted
5,974
13,648 28,949
454,779 33,680
20,838
495,239
Shares forfeited Shares exercised Shares expired
30,486
0 0 0
93,115
0 0
0 0
0 0
0 0
Number of shares 31 December 2022 Outstanding at the end of the period
564,054
413,980
421,099
20,838
1,419,971
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 brutto 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 compo- nent used to cover taxes and tax-like charges.
103
Consolidated financial statements | METSÄ BOARD ANNUAL AND SUSTAINABILITY REPORT 2022
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