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Rovio Entertainment Corp.: The Board of Directors of Rovio Entertainment Corp. decided on the performance period 2021 of the share-based long-term incentive program

Rovio Entertainment Corporation
·2-min read

Rovio Entertainment Corporation Stock Exchange Release February 19, 2021 at 10.00 a.m. EET

Rovio Entertainment launches the new performance period 2021 of the share-based long-term incentive program established on January 23, 2020.

The Board of Directors of Rovio Entertainment Corporation has decided on the details of the second performance period of the performance share plan, established in 2020. The performance period covers calendar year 2021, and it is directly followed by a one-year waiting period. The performance period 2021 is offered to key employees including the CEO and members of the leadership team of the company.

The performance criteria for the performance period 2021 are Rovio’s Sales Growth (%) and Rovio’s Adjusted Operating Profit Margin (%).

The rewards to be paid on the basis of the performance period 2021 correspond to the value of an approximate maximum total of 4,420,000 euros. The maximum number of Rovio Entertainment Corporation shares to be earned in the period will be obtained by dividing the maximum value of rewards by the trade volume-weighted average price of the Rovio share during 5 February - 5 March, 2021. The rewards to be allocated in the performance period include also the proportion to be paid in cash.

Rovio’s Restricted Share Unit (RSU) Plan will continue as published on May 17, 2018. Approximately 500,000 RSUs have been allocated to key employees in 2019 and in 2020 with payout latest in 2023. The maximum value of RSUs to be allocated in the RSU Plan during the following 12 months is 2,150,000 euros. The maximum number of RSUs will be obtained by dividing the maximum value of RSUs by the trade volume-weighted average price of the Rovio share during 16 April -14 May, 2021. The rewards to be allocated on the basis of the RSU Plan include also the proportion to be paid in cash.

ROVIO ENTERTAINMENT CORPORATION
The Board of Directors

Further information:
Alexandre Pelletier-Normand, CEO, tel. +358 40 485 8985

Distribution:
Nasdaq Helsinki Ltd
Key media
https://investors.rovio.com/en

About Rovio:
Rovio Entertainment Corporation is a global, mobile-first games company that creates, develops and publishes mobile games, which have been downloaded over 4.5 billion times so far. Rovio is best known for the global Angry Birds brand, which started as a popular mobile game in 2009, and has since evolved from games to various entertainment and consumer products in brand licensing. Today, Rovio offers multiple mobile games, animations and produced The Angry Birds Movie in 2016. Its sequel, The Angry Birds Movie 2, was released in 2019. Rovio is headquartered in Finland and the company's shares are listed on the main list of NASDAQ Helsinki stock exchange with the trading code ROVIO. (www.rovio.com)