Gofore decides to start a new performance share plan for key personnel

Gofore Plc
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17 March 2023 at 4.00 p.m. EET 

Gofore decides to start a new performance share plan for key personnel

The Board of Directors of Gofore Plc has today decided to continue share-based incentivising of the group’s key personnel and start a new performance share plan this spring.

Target is to align shareholder objectives with those of key personnel, to increase the value of the company in the long-term, to commit key employees to the company, and to offer them a competitive incentive scheme that is based on earning and accumulating shares.

The performance share plan consists of a three-year performance period over the financial years of 2023–2025. Performance period of the 2022 plan is the financial years of 2022-2024.The Board may decide annually on new performance periods.

In the plan, the target group is given an opportunity to earn Gofore Plc shares based on performance. The potential rewards based on the plan will be paid after the end of each performance period. The reward will be paid partly in Gofore Plc shares and partly in cash. The cash proportion of the reward is intended for covering taxes and tax-related costs arising from the rewards to the participants. No reward is usually paid if the participant’s employment or director contract terminates before the reward payment.

During the performance period, the reward is based on the group's average adjusted EBITA percentage and average revenue growth measured cumulatively for the financial years 2023–2025. The value of the targeted maximum rewards to be paid will correspond to an approximate maximum total of 25,700 Gofore Plc shares including the cash proportion. Depending on the development of the adjusted EBITA percentage, the definite maximum value of the rewards to be paid will correspond an approximate amount of 38,550 Gofore Plc shares including the cash proportion.

Some 30 people, including the CEO and other Gofore Management Team members, are included in the new performance share plan.