The Board of Directors of Musti Group plc have decided on a new performance period for the long-term Performance Share Plan for the key employees
Musti Group plc Stock Exchange Release 21 December 2023 at 5:15 p.m.
The Board of Directors of Musti Group plc have decided on a new performance period for the long-term Performance Share Plan for the key employees
The Board of Directors of Musti Group plc have decided on a long-term Performance Share Plan (PSP) for the Group’s management team and other key employees for the performance period 2024-2026.
The Performance Share Plan (PSP) includes three three-year performance periods, which are the financial years 2023-2025, 2024-2026 and 2025-2027. Musti Group’s Board of Directors decides on the performance criteria and targets in the beginning of each performance period.
The launch and essential terms and conditions of the PSP were published in a stock exchange release on 16 December 2022. The plan forms a part of Musti Group plc’s remuneration program for its key employees, and the aim of the PSP is to align the objectives of the shareholders and key employees for increasing the value of the company in the long-term, to commit the key employees to the company and to offer them competitive incentive schemes that are based on earning and accumulating shares.
In the performance period FY2024-2026, the plan has 30-35 participants and the targets for the performance period relates to company´s total shareholder return (TSR) and adjusted EBITA. The maximum number of shares to be paid based on the performance period FY2024-2026 is approximately 143,000 Musti Group plc´s shares. The number of shares represents gross earning, from which the withholding of tax and possible other applicable contributions are deducted, and the remaining net amount is paid in shares. However, the company has the right to pay the reward fully in cash under certain circumstances. Potential rewards from the performance period FY2024-2026 will be paid out during winter of 2027.
Further information:
Martin Svedholm
Director, Treasury and Investor Relations
tel. +358 50 579 0324, martin.svedholm@mustigroup.com
Distribution:
Nasdaq Helsinki
Principal media
www.mustigroup.com
Musti Group in brief
Musti makes the life of pets and their owners easier, safer and more fun. We are the leading Nordic pet care company, and we operate an omnichannel business model to cater for the needs of pets and their owners across Finland, Sweden and Norway. We offer a wide, curated assortment of pet products. We also provide pet care services such as grooming, training and veterinary services in selected locations.
Musti Group’s net sales were EUR 426 million in the financial year 2023. At the end of the financial year 2023, the company had 1,643 employees, 1.5 million loyal customers and 342 stores.
