EN FI SE Long-term incentive plans InvestorsCorporate GovernanceRemunerationLong-term incentive plans Fiskars as an investment Financials Shares & shareholders Corporate Governance Reports and presentations IR calendar Investor relations Performance Share Plan for years 2018–2022 In February 2018 the Board of Directors approved the establishment of a Performance Share Plan for years 2018 -2022. The Plan has three performance periods of three calendar years each; 2018–2020, 2019–2021 and 2020–2022. The Board of Directors has decided separately for each performance period the participants and the minimum, target and maximum rewards for each participant, as well as the performance criteria and related targets. If the targets of the plan are reached, rewards will be paid to participants after the end of each performance period. The reward will be paid in the company’s shares, after the deduction of the relevant cash proportion that is required for covering taxes and tax related costs due on the basis of the reward. However, the company has the right to pay the reward fully in cash under certain circumstances. As a starting point, shares to be awarded to key employees will be paid as existing shares of the company and thus the Performance Share Plan is not expected to have a diluting effect on the ownership of the company’s shareholders. New Share-based Long-term Incentive plans In December 2020 the Board of Directors decided on new share-based Long-term Incentive Plans for the Fiskars Group Leadership Team and other key employees. The plans include a Performance Share Plan and a Restricted Share Plan and they will form a part of Fiskars remuneration program for its key employees. Performance Share Plan The new Performance Share Plan consists of annually commencing individual performance share plans, each with a three-year performance period, followed by the payment of the potential share reward. The Board of Directors will decide separately the commencement of each individual plan and their participants, the minimum, target and maximum rewards for each participant, as well as the performance criteria and related targets. The amount of the reward paid to a key employee depends on the achievement of the set targets. No reward will be paid if the targets are not met. Also, if the participant’s employment or service ends before reward payment, the participant is, as a main rule, not entitled to any reward. The potential reward will be paid in the company’s shares, after the deduction of the proportion that is required for covering taxes and tax-related costs due on the basis of the reward. However, the company may decide to pay the reward fully in cash. Restricted Share Plan The purpose of the Restricted Share Plan is to serve as a complementary long-term retention tool for individually selected key employees of Fiskars Group in specific situations. The Restricted Share Plan consists of annually commencing individual restricted share plans. The Board of Directors will decide separately the commencement of each individual plan. Each plan comprises an overall three-year retention period during which the Company may grant fixed share rewards to individually selected key employees. The company may choose to use a shorter retention period on a case by case basis within this overall three-year period. The granted share rewards will be paid after the retention period. No reward will be paid if the participant’s employment or service ends before reward payment. The reward will be paid in the company’s shares, after the deduction of the proportion that is required for covering taxes and tax-related costs due on the basis of the reward. However, the company may decide to pay the reward fully in cash. Other terms For the first Performance Share Plans and Restricted Share Plans for the years 2021–2023, the maximum value of the reward payable to each participant based on each of the afore described plans is limited by a cap linked to Fiskars share price development. Also, members of the Fiskars Group Leadership Team participating in the long-term incentive plan are subject to a shareholding requirement and must retain at least 50% of the net shares received based on the plans until their share ownership in Fiskars corresponds to at least 100% for the President and CEO and 50% for the other Fiskars Group Leadership Team members of their annual gross base salary. The same ownership requirement applies to net shares received based on the Performance Share Plan for years 2018-2022. As a starting point, shares to be awarded to key employees based on Performance Share Plan or Restricted Share Plan will be paid as existing shares of the company and thus the plans are not expected to have a diluting effect on the ownership of the company’s shareholders. A SUMMARY OF ON-GOING LONG-TERM INCENTIVE PLANS PERFORMANCE SHARE PLANS (PSP) 2019–2021 2020–2022 2021–2023 Number of participants 33 34 48 Maximum number of gross shares payable1 CEO 30,620 53,820 66,760 Other Leadership Team Members 96,100 129,960 175,220 Other participants 216,860 206,220 249,640 Total maximum number of gross shares payable 343,580 390,000 491,620 Earning criteria Total shareholder return, net sales growth and net working capital. EBITA cutter applied to net sales and net working capital criteria Total shareholder return, net sales growth and net working capital. EBITA cutter applied to net sales and net working capital criteria. Total shareholder return and EBITA. Share delivery year 2022 2023 2024 1) The maximum number of gross shares (taxes included) payable if the set earning criteria are achieved in full. RESTRICTED SHARE PLANS (RSP) 2021–2023 Number of participants 30 Maximum number of gross shares payable CEO – Other Leadership Team Members 24,800 Other participants 38,200 Total maximum number of gross shares payable 63,000 Earning criteria Continuous employment or service until reward payment time. Share delivery year 2024 updated October 6, 2021 Back to Remuneration main page Our brands Sustainability Careers Investors News About us BRUK Privacy at Fiskars Group Fiskars Group Contact us Fiskars Group LinkedIn Fiskars Group Twitter Fiskars Group YouTube Brands Fiskars Royal Copenhagen Iittala Wedgwood Waterford Gerber Arabia Nelson & Gilmour Hackman Rogaška Royal Albert Royal Doulton Rörstrand