Gofore Plc: Gofore resolved on incentive plans for the Groups employees and key personnel

GOFORE PLC STOCK EXCHANGE RELEASE INSIDE INFORMATION 24 JANUARY 2022 AT 13:25

Gofore resolved on incentive plans for the Groups employees and key personnel

Gofore Plc resolved to launch a new plan period in the employee share savings and reward plan

The Board of Directors of Gofore Plc has resolved on the new plan period 2022–2023 of CrewShare share savings plan established in 2018. The details of the new plan period will mainly be conformed to follow the previous plan period’s particulars.

Over 480 Gofore Group employees have participated in the CrewShare plan since its initiation.

The new plan period will commence on 1 March 2022 and end on 28 February 2023. The Plan is offered to all, approximately 990, Gofore employees. Invited employees will be offered an opportunity to save a proportion of their regular salaries (EUR 50–400 per month). The accrued savings will be used for the acquisition of the Gofore shares biannually following the publications of the Half-year Report in September 2022 and financial statements release for the year 2022 in March 2023. Participation in the Plan is voluntary, and an employee will participate in the Plan for one plan period at a time.

After a holding period Gofore will grant the employees participating in the Plan one free matching share against every three shares acquired with savings as a gross reward. The prerequisites for receiving matching shares are that a participant holds the acquired shares for the entire holding period, and that their employment at Gofore has not terminated before the end of the holding period. The holding period will end on 28 February 2025.

As a new element to the previous plan periods, the participant can earn 1–1.5 performance based matching shares against every three shares acquired with savings as a gross reward if the target set by the Board for group’s annual adjusted EBITA percentage will been reached for the financial year 2022. Thus, the maximum amount of matching shares received by the participant can be 2.5 shares against every three shares acquired.

The total amount of all savings of the plan period 1 March 2022–28 February 2023 may not exceed EUR 1,600,000, which corresponds to 72,562 shares calculated at a share price of EUR 22.05 per share including a 10% discount on share price closed on 21 January 2022.

Any dividends to be paid on shares acquired with savings and on matching shares given in the Plan will be reinvested into acquisition of additional shares on the next potential acquisition date. These shares will have an equal right to matching shares.

Matching shares will be paid partly in the company’s shares and partly in cash as soon as possible after the end of the holding period. The cash proportion is intended to cover taxes and tax-related costs arising from the matching shares to a participant. The matching shares are freely transferable after their transfer on the participant’s book-entry account.

The intention is that the company will resolve on share issues to subscribe for the shares to be acquired with the accumulated savings at a 10% discount. The intention is that the company will resolve on the share issues before the acquisition of shares. 

The Board of Directors will resolve on the following plan period and its details separately.

Read more: Gofore Plc launches employee share savings plan (28 September 2018) 
https://gofore.com/en/releases/gofore-plc-gofore-plc-launches-employee-share-savings-plan/

Gofore Plc resolved on a new share-based incentive plan for the key personnel

The Board of Directors of Gofore Plc has resolved to establish a new share-based incentive plan for the group’s key personnel. The aim is to align the objectives of the shareholders and key personnel for increasing the value of the company in the long-term, to commit the key employees to work for the company and to offer them a competitive incentive scheme that is based on earning and accumulating shares.

The Performance Share Plan 2022–2024 consists of a three (3) year performance period, covering the financial years of 2022–2024. The Board may decide annually on new performance periods.

In the plan, the target group is given an opportunity to earn Gofore Plc shares based on performance. The potential rewards based on the plan will be paid after the end of each performance period. The reward will be paid partly in Gofore Plc shares and partly in cash. The cash proportion of the reward is intended for covering taxes and tax-related costs arising from the rewards to the participants. In general, no reward is paid if the participant’s employment or director contract terminates before the reward payment. During the performance period, the reward is based on the group’s average adjusted EBITA percentage and average revenue growth measured cumulatively for the financial years 2022–2024. The value of the targeted maximum rewards to be paid will correspond to an approximate maximum total of 20,200 Gofore Plc shares including also the cash proportion. Depending on the development of the adjusted EBITA percentage, the definite maximum value of the rewards to be paid will correspond an approximate amount of 33,300 Gofore Plc shares including also the cash proportion.

During the performance period, approximately 26 persons, including the CEO and other Gofore Management Team members, belong to the target group of the performance period.

Further enquiries: 

Timur Kärki, Chairman of the Board of Directors, Gofore Plc  

tel. +358 40 828 5886

timur.karki@gofore.com

Gofore Plc is a digital transformation consultancy with over 990 impact-driven employees across Finland, Germany, Spain, and Estonia – top experts in our industry who are our company’s heart, brain, and hands. We use our holistic service offering – consulting, coding, design and verification – as tools to incite positive change. We care for our people, our customers, and the surrounding world. Our values guide our business: Gofore is a great workplace that thrives on customer success. In 2021, our net sales amounted to EUR 105 million. Gofore Plc’s share is listed on the Nasdaq Helsinki Ltd. in Finland. Get to know us better at www.gofore.com.