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

Stock Exchange Release | 5 July 2021

Harvia Plc, Stock Exchange Release, New performance period for the Long-term Performance Share Plan, July 5th, 2021 at 9:00 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 July 2nd, 2021 to continue the Long-term Performance Share Plan for the management team and other key employees for the performance period 2021-2023.

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 2021-2023, the plan has 15 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 2021-2023 is maximum of 33 500 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 2021-2023 will be paid out during spring 2024.

Harvia Plc

Board of Directors

Additional information:

Tapio Pajuharju, CEO
tel. +358 50 5774 200

Harvia in short

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 109.1 million in 2020. Harvia Group employs more than 700 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/