Uponor Corporation Stock exchange release 26 January 2021 13:00 EET
Proposals by Uponor Nomination Board to the Annual General Meeting 2021
The Uponor Nomination Board proposals to the Annual General Meeting, to be held on 18 March 2021, are the following:
REMUNERATION OF THE MEMBERS OF THE BOARD OF DIRECTORS
The Nomination Board proposes that the yearly remuneration to the members of the Board of Directors shall remain unchanged.
Presently, the yearly remuneration is as follows:
Chair of the Board - €90,000
Deputy Chair of the Board - €51,000
Chair of the Audit Committee - €51,000
Other members of the Board - €46,000
Approximately 40% of the remuneration is paid by acquiring Uponor Corporation shares in public trading or by conveying Uponor Corporation’s shares held by the company and the rest in cash. Alternatively, the remuneration can be paid fully in cash, in which case the Board member is obliged to use approximately 40% of the amount to acquire Uponor Corporation’s shares in public trading. The yearly Board remuneration shall be paid within two weeks after the publication of the company’s half year report for January-June 2021. In case the full remuneration is paid in cash, a Board member shall make the purchase of shares within two weeks after the publication of the company’s interim report for January-September 2021. The travel expenses related to Board meetings are paid according to the company’s travel policy.
In addition to the above, a remuneration per each actual Board and Committee meeting (excluding decisions without a meeting) is paid, amounting to €600 for meetings held in the country of residence of the member, €1,200 for meetings held elsewhere on the same continent, and €2,400 for meetings held on another continent. Remuneration for telephone meetings equals the remuneration for meetings held in the country of residence of the member. In addition, a remuneration of €600 will be paid to the Chair of the Board for each Board meeting and to the Chairs of the Board committees for each respective committee meeting.
NUMBER OF THE BOARD MEMBERS
The Nomination Board proposes that the number of Board members remains at six.
ELECTION OF THE MEMBERS AND CHAIR OF THE BOARD OF DIRECTORS
The Nomination Board proposes to the Annual General Meeting that Ms Pia Aaltonen-Forsell, Mr Johan Falk, Mr Markus Lengauer, Mr Casimir Lindholm, Mr Michael G. Marchi and Ms Annika Paasikivi, currently members of the Board of Directors, will be re-elected as members of the Board of Directors.
Further, the Nomination Board proposes that Annika Paasikivi will be elected Chair of the Board of Directors.
Uponor’s Nomination Board consists of the following persons: Ville Kivelä (representing Oras Invest Oy), Henrika Vikman (Nordea Funds Oy) and Reima Rytsölä (Varma Mutual Pension Insurance Company) as well as Annika Paasikivi (expert member).
For further information, please contact:
Ville Kivelä, Chairman of the Nomination Board
Tel: +358 50 563 8942
Reetta Härkki, General Counsel, Uponor Corporation
Tel: +358 20 129 2835
Vice President, Communications and Corporate Responsibility
Tel. +358 20 129 2081
Uponor in brief
Uponor is rethinking water for future generations. Our offering, including safe drinking water delivery, energy-efficient radiant heating and cooling and reliable infrastructure, enables a more sustainable living environment. We help our customers in residential and commercial construction, municipalities and utilities, as well as different industries to work faster and smarter. Uponor employs about 3,800 professionals in 26 countries in Europe and North America. In 2019, Uponor's net sales totalled approximately €1.1 billion. Uponor Corporation is based in Finland and listed on Nasdaq Helsinki. www.uponor.com