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

Stock Exchange Release | 5 December 2022

Harvia Plc, Stock Exchange Release, New performance period for the Long-term Performance Share Plan, December 5th, 2022 at 9:45 am

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 December 2nd, 2022 to continue the Long-term Performance Share Plan for the management team and other key employees for the performance period 2022-2024.

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 2022-2024, the plan has 16 participants at most and the targets for the performance period relate to company´s total shareholder return, revenue growth, sustainability targets and EBIT margin. The number of shares to be paid based on the performance period 2022-2024 is maximum of 73 600 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 2022-2024 will be paid out during spring 2025.

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 179.1 million in 2021, of which 79% came from outside Finland. Harvia Group employs more than 800 professionals in Finland, China and Hong Kong, Romania, Austria, United States, Germany, Estonia and Russia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing facility.

Read more: https://harviagroup.com