Harvia Plc: New performance period for the Long-term Performance Share Plan

Stock Exchange Release | 27 June 2023

Harvia Plc, Stock Exchange Release, New performance period for the Long-term Performance Share Plan, 27 June 2023, 09:45 A.M. EEST

The Board of Directors of Harvia Plc have decided on a new performance period for the Long-term Performance Share Plan for the key employees

The Board of Directors of Harvia Plc has decided on June 26th, 2023 to continue the Long-term Performance Share Plan for the management team and other key employees for the performance period 2023-2025.

The plan will form a part of Harvia Plc’s remuneration program for its key employees, and the aim of the Plan is to support the implementation of the company's strategy, to align the objectives of key employees with the shareholders to increase the value of the company, to improve the performance of the company, and to retain key employees.

In the performance period 2023-2025, the plan has 16 participants at most and the targets for the performance period relate to company´s total shareholder return, revenue growth, CO2 emissions and EBIT margin. The number of shares to be paid based on the performance period 2023-2025 is maximum of 61 600 Harvia Plc´s shares. This number of shares represents the gross earning, from which the withholding of tax and possible other applicable contributions are deducted and the remaining net amount is paid in shares. However, the company has the right to pay the reward fully in cash under certain circumstances. Potential rewards from the performance period 2023-2025 will be paid out during spring 2026.

Harvia Plc

Board of Directors

Additional information:

Ari Vesterinen, CFO
tel. +358 40 5050 440

Harvia is one of the leading companies operating in the sauna and spa market globally, as measured by revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna and spa market of both private and professional customers.

Harvia’s revenue totaled EUR 172.4 million in 2022. Harvia Group employs more than 600 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany and Estonia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.

Read more: https://harviagroup.com