Verkkokauppa.com Oyj: Transfer of shares held by Verkkokauppa.com Oyj for the payment of share rewards based on the long-term incentive plan for key employees – change in company’s treasury shares
Verkkokauppa.com Oyj Stock Exchange Release 28 April 2022 at 9:35 a.m. EEST
Transfer of shares held by Verkkokauppa.com Oyj for the payment of share rewards based on the long-term incentive plan for key employees – change in company’s treasury shares
The Board of Directors of Verkkokauppa.com Oyj has resolved on a directed share issue without consideration for the payment of share rewards in the sole matching period 2020-2022 of the Matching Performance Share Plan 2020-2022. The resolution is based on the authorization granted by the Annual General Meeting held on 30 March 2023.
A total of 75,320 treasury shares held by the Company have on 28 April 2023, been transferred to five participants according to the terms and conditions of the Matching Share Plan 2018-2020. Additionally, a part of the reward is paid in cash intended to cover taxes and tax-related costs arising from the reward to the participant. No new shares will be issued in connection with the payment of the share rewards and therefore the resolution will have no diluting effect. After the transfer of the shares, Verkkokauppa.com Oyj holds 171,459 treasury shares.
Further details about the plan are available in the company release published on 13 February 2020. The aim of the plan is to align the objectives of the shareholders and the key employees in order to increase the value of the company in the long-term, to encourage the key employees to personally invest in the company's shares and to retain the key employees with the company.
Marja Mäkinen, Head of Investor Relations and Corporate Communications
Tel. +358 40 671 2999
Verkkokauppa.com empowers its customers to follow their passion by providing a wide product assortment of around 90,000 products. Verkkokauppa.com Oyj serves its retail and corporate customers through its webstore, megastores, kiosk and network of collection points as well as fast deliveries and various services. As Finland’s most popular and most visited domestic online retailer, its deliveries cover around 75 percent of the Finnish population within the next day. The Company has four megastores: in Oulu, Pirkkala, Raisio, and Helsinki, where its headquarters is also located. Verkkokauppa.com employs more than 700 people and its shares are listed on the Nasdaq Helsinki stock exchange with the ticker VERK.