The long-term incentive plans in Kalmar are performance share plans based on the company's performance and restricted share plans that are based on continuous employment. Plans consist of a 3-year performance or restriction period after which the rewards are paid to eligible participants. Company's practice is that one new performance and restriction period commences annually.
Performance Share Plans
Performance Share Plans consist of 3-year performance periods that the Board of Directors can decide on annually. Kalmar currently has three active Performance Share Programmes (PSP) that are presented in the table below.
In the PSPs, participants are given an opportunity to earn Kalmar shares. The rewards are based on the company’s performance against the criteria set by the Board of Directors and will be paid to the participants after the performance period, given that the participants’ employment continues without termination at the time of payment. In addition to the rewards payable in shares, the rewards include a cash portion which is intended to cover the taxes and tax-like payments arising to the key employees from the reward.
|
Performance Share Plan |
2023–2025 |
2024–2026 |
2025-2027 |
|
Performance Criteria |
Performance Period 2023: Earnings per share (EPS) Performance Period 2024: Services Segment’s Gross Profit Performance Period 2025: Eco Portfolio share of order intake |
Performance Period 2024: Earnings per share (EPS) Performance Period 2025-2026: Absolute Total Shareholder Return (40% weight), Services segment revenue growth (40%), CO2 emission reduction (15%), improving gender diversity in senior and leadership positions (5%) |
Performance Period 2025-2027: Absolute Total Shareholder Return (40% weight), Services segment revenue growth (40%), CO2 emission reduction (15%), improving gender diversity in senior and leadership positions (5%) |
|
Reward payment |
Q1 / 2026 |
Q1 / 2027 |
Q1 / 2028 |
|
Maximum allocation, number of shares at grant |
133,000 *. ** |
206,000 *. ** |
265,000 *** |
|
Maximum allocation, number of shares, status on 1 April 2025 **** |
115,130 |
165,820 |
264,500 |
* The number of shares converted into Kalmar B-class shares after the Cargotec Corporation demerger on 30.6. 2024.
** Share allocations in PSP 2023-2025 and PSP 2024-2026 were defined as a net number of shares. The company will pay cash on top of the shares to cover the applicable taxes.
*** Share allocations in PSP 2025-2027 were defined as a gross number of shares and the number of shares here indicated the total gross number of shares granted. The final reward will be paid in a combination of shares and cash. Cash portion is aimed to cover the applicable taxes.
**** Maximum number of shares for active participants of the plan on 1 April 2025.
Restricted Share Plans
Restricted Share Plans consist of 3-year restriction periods that the Board can decide on annually. Kalmar currently has three active Restricted Share Plans that are presented in the table below. The rewards will be paid to the participants, given that the employment continues without termination at the time of payment. In addition to the rewards payable in shares, the rewards include a cash portion which is intended to cover the taxes and tax-like payments arising to the participants from the reward.
|
Restricted Share Plan |
2023–2025 |
2024–2026 |
2025–2027 |
|
Reward payment |
Q1 / 2026 |
Q1 / 2027 |
Q1 / 2028 |
|
Maximum allocation, number of shares |
18,000 *. ** |
23,000 *. ** |
26,500 |
|
Allocated shares, status on 1 April 2025 **** |
16,530 |
- |
- |
* The number of shares converted into Kalmar B-class shares after the Cargotec Corporation demerger on 30.6. 2024.
** Share allocations in RSP 2023-2025 and RSP 2024-2026 were defined as a net number of shares. The company will pay cash on top of the shares to cover the applicable taxes.
*** Share allocations in RSP 2025-2027 were defined as a gross number of shares and the number of shares here indicated the total gross number of shares granted. The final reward will be paid in a combination of shares and cash. Cash portion is aimed to cover the applicable taxes.
**** Maximum number of shares for active participants of the plan on 1 April 2025.
(*) The number of shares converted into Kalmar B-class shares after the Cargotec demerger on 30.6.2024. Status of the programmes on 7 August 2024.