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Fri February 2 08:02 am 2018 in category Stock exchange releases

Nokian Tyres plc Performance Share Plan; performance period 2018 and realization of performance period 2017

Nokian Tyres plc Stock Exchange Release February 2, 2018 8:02 a.m.

In February 2016, the Board of Directors of Nokian Tyres plc approved the Performance Share Plan for the Group’s key employees. The plan’s performance periods are calendar years 2016, 2017 and 2018.

The potential reward from the performance period 2018 will be based on the Nokian Tyres Group´s Net Sales and Operating Profit. The rewards to be paid on the basis of the performance period 2018 correspond to an approximate maximum total of 560,000 Nokian Tyres plc shares including also the proportion to be paid in cash. During the performance period 2018, the Plan is directed to approximately 230 key employees, including the members of the Group’s Management Team.

The potential reward from the performance period 2018 will be paid partly in the Company’s shares and partly in cash in 2019. The shares paid as reward may not be transferred during an approximately one-year restriction period established for the shares. For shares paid on the basis of the performance period 2018, the restriction period will end on 31 March 2020.

The rewards to be paid in 2018, based on the achievement of the performance criteria of the performance period 2017, correspond to a total of 519,000 Nokian Tyres plc shares including also the proportion to be paid in cash. The rewards will be paid by the end of March 2018. For the key employees, who have joined the Plan during the performance period 2017, including the President and CEO of Nokian Tyres plc and a member of the Group´s Management Team, the rewards will be paid by the end of August 2018. The Plan was directed to 201 key employees, including the members of the Group’s Management Team. The shares paid as reward may not be transferred during an approximately one-year restriction period established for the shares. For shares paid on the basis of the performance period 2017, the restriction period will end on 31 March 2019. The members of the Group’s Management Team must hold 25% of the received gross shares until the member’s shareholding in the Company equals the member’s fixed gross annual salary.

Nokian Tyres plc

Antti-Jussi Tähtinen
Vice President, Marketing and Communications

Further information: Tarja Kaipio, Vice President, Human Resources, tel. +358 10 401 7268

Distribution: Nasdaq Helsinki, media and www.nokiantyres.com