The Board of Directors of Kalmar Corporation has resolved on the conversion of ongoing share-based incentive programmes
KALMAR CORPORATION, STOCK EXCHANGE RELEASE, 7 AUGUST 2024 AT 6:45 PM (EEST)
The Board of Directors of Kalmar Corporation has resolved on the conversion of ongoing share-based incentive programmes
The Board of Directors of Kalmar Corporation (“Kalmar” or the “Company”) has resolved on the conversion of the rewards of its ongoing share-based programmes. The ongoing programmes have been established before the partial demerger of Cargotec Corporation (“Cargotec”). Therefore, the Board of Directors of Kalmar has resolved to convert these programmes into expressing the rewards in Kalmar shares.
As originally communicated in the Demerger and Listing Prospectus in May 2024, Kalmar continues the ongoing share-based incentive programmes established originally by Cargotec for those key employees that transferred to Kalmar Corporation in the partial demerger of Cargotec registered on 30 June 2024. The different performance share programmes are targeted to approximately 60 selected key employees, including the members of Kalmar Leadership Team. The aim of the programmes is to combine the objectives of the shareholders and the key employees in order to increase the shareholder value of the Company in the long-term, to commit the key employees to implement Kalmar's strategy, and to offer the key employees a competitive reward plan based on the earning of the Company's shares.
Kalmar Corporation currently has the following ongoing share-based incentive programmes:
Performance share programme 2022–2024. The programme is directed to approximately 30 key employees. The rewards to be paid on the basis of the performance period will amount to an approximate maximum total of 131,000 Kalmar Corporation's class B shares.
Performance share programme 2023–2025. The programme is directed to approximately 40 key employees. The rewards to be paid on the basis of the performance period will amount to an approximate maximum total of 133,000 Kalmar Corporation's class B shares.
Performance share programme 2024–2026. The programme is directed to approximately 40 key employees. The rewards to be paid on the basis of the performance period will amount to an approximate maximum total of 206,000 Kalmar Corporation's class B shares.
Restricted share programme 2022–2024. The rewards to be paid on the basis of the programme will amount to an approximate maximum total of 12,000 Kalmar Corporation's class B shares.
Restricted share programme 2023–2025. The rewards to be paid on the basis of the programme will amount to an approximate maximum total of 18,000 Kalmar Corporation's class B shares.
Restricted share programme 2024–2026. The rewards to be paid on the basis of the programme will amount to an approximate maximum total of 23,000 Kalmar Corporation's class B shares.
In addition to the rewards payable in shares, the rewards include a cash portion which is intended to cover the taxes and tax-like payments arising to the key employees from the reward.
Other than with respect to the reward share conversion stated above, Kalmar’s long-term incentive programmes continue on substantially the same terms as those established by Cargotec prior to the partial demerger. More detailed information about the terms and conditions of these programmes will be available at www.kalmarglobal.com.
For further information, please contact:
Mikko Savela, Vice President, Performance and Rewards, tel. +358 40 653 1312
Carina Geber-Teir, SVP, IR, Marketing & Communications, tel. +358 40 502 4697
About Kalmar
Kalmar (Nasdaq Helsinki: KALMAR) is moving goods in critical supply chains around the world, with the vision to be the forerunner in sustainable material handling equipment and services. The company offers a wide range of industry shaping heavy material handling equipment and services to ports and terminals, distribution centres, manufacturing and heavy logistics. Headquartered in Helsinki, Finland, Kalmar operates globally in over 120 countries and employs approximately 5,200 people. In 2023, the company's sales totalled approximately EUR 2.0 billion. www.kalmarglobal.com
