Long-term incen­tive sche­mes

Long-term incen­tive sche­mes

Following the partial demerger of Sampo plc, effective as of 1 October 2023 (the ”Demerger”) and the listing of Mandatum plc’s share in Nasdaq Helsinki, Mandatum plc’s Board of Directors has decided that Mandatum Group’s key employees and the Group CEO shall remain in Sampo’s long-term incentive scheme 2020, based on the decision of Sampo plc’s Board of Directors, to ensure retention of the key employees. The incentive scheme was launched in August 2020 and terms were amended by Sampo due to the Demerger in September 2023.

The incentive units have been allocated in three allocations, of which the first was in 2020 (2020:1) and the following allocations were in 2021 (2020:1/2) and 2022 (2020:1/3). The potential incentive reward will be paid in three annual installments. The first installment of the first allocation (2020:1) has been paid out in September 2023, prior to the Demerger. The following installments will vest in 2024 and 2025. The incentive rewards from second allocation (2020:1/2) and third allocation (2020:1/3) will vest in 2024-2026 and 2025-2027 respectively. A deferral rule applies to incentive rewards paid to the key employees who were subject to the deferral rule in accordance with the remuneration policies of the relevant Mandatum Group companies in force at the launch of this incentive scheme.

 

Information on the long-term incentive schemes

 

Scheme

2020:1

2020:1/2

2020:1/3

Allocated incentive units (pcs)*

488,250

20,000

50,000

of which to Group Management Team members, excluding the Group CEO*

148,750

0

0

of which to Group CEO*

91,000

0

0

Starting price (EUR)**

24.54

36.79

42.14

Theoretical market value (EURm)***

9.4

0.2

0.3

Participants

27

3

4

* Figures represent the outstanding part of the initial allocation. No new allocations will be made to employees of Mandatum Group from this scheme.
** Dividend adjusted starting price
*** Calculation based on Black & Scholes model. Return on capital at risk criterion assumed to be fulfilled at 100 per cent.
**** The number of participants by allocations. The participants may have received incentive units in more than one allocation.

Terms of the long-term incentive scheme

12.10.2023