Long-term incentive plans


PERFORMANCE SHARE PLANS (PSP) 2016–2018 2017–2019 2018–2020
Number of participants 1 2 42
Maximum number of gross shares payable1      
CEO 14814 22452 43554
Other Leadership Team Members - 6698 59386
Other participants - - 146158
Total maximum number of gross shares payable 14814 29150 249098
Earning criteria Total shareholder return with cumulative EBIT threshold Total shareholder return with cumulative EBIT threshold Total shareholder return, net sales growth and cumulative EBITA. EBITA cutter applied to net sales growth criterion.
Share delivery year 2019 2020 2021
Shares paid as outcome of plan 0    

1) Maximum number of gross shares payable

Number of participants 34 42
Size of target reward, as % of annual base salary    
CEO1 50% 50%
Other participants 15–50% 20–50%
Earning criteria Net sales and EBIT Net sales and EBIT
Year of payment 2019 2020

1) Payable on pro-rata basis. CEO’s long-term incentive plan for years 2016-2018 and 2017-2019 consists of cash-based plan (50 % of total reward) and share-based plan (50 % of total reward).

Performance Share Plan 2018–2022

In February 2018 the Board of Directors approved the establishment of a new Performance Share Plan for years 2018 -2022. The Plan has three performance periods of three calendar years each; 2018–2020, 2019–2021 and 2020–2022. The Board of Directors will decide separately for each performance period the participants and the minimum, target and maximum rewards for each participant, as well as the performance criteria and related targets.

If the targets of the plan are reached, rewards will be paid to participants after the end of each performance period. The reward will be paid in the company’s shares, after the deduction of the relevant cash proportion that is required for covering taxes and tax related costs due on the basis of the reward. However, the company has the right to pay the reward fully in cash under certain circumstances. As a starting point, shares to be awarded to key employees will be paid as existing shares of the company and thus the Performance Share Plan is not expected to have a diluting effect on the ownership of the company’s shareholders.

As regards members of Fiskars Group Leadership Team (or subsequent equivalent), as long as the contract concerning employment, service or other contractual relationship between a Leadership Team member and the Group stays in force, the member is to build up his/her holding of the shares at least up to a level where the value of the shares owned by the member corresponds at each point in time to hundred percent (100%) of the annual gross base salary of the CEO and fifty percent (50 %) of the other Leadership Members. Until this requirement is fulfilled, the Leadership Team member must hold at least fifty percent (50 %) of the net shares awarded to him/her under the Performance Share Plan. No shareholder requirements apply to the other participants of the plan.