Workflow
Employee share savings plan
icon
Search documents
The Board of Directors of Oma Savings Bank Plc commences a new plan period of the employee share savings plan
Globenewswire· 2026-02-26 13:00
Core Viewpoint - Oma Savings Bank Plc has initiated a new employee share savings plan (ESSP) for the period 2026-2029, continuing from the previous plan established in February 2024 [1][2]. Employee Share Savings Plan (ESSP) Overview - The ESSP allows employees to invest a portion of their salary in the company's shares, aiming to align the interests of shareholders and employees to enhance long-term company value [2]. - The plan consists of annual savings periods of 12 months, followed by a holding period of approximately two years, during which employees can subscribe to shares at a 10% discount [3]. Performance and Rewards - Participants can earn matching shares based on performance criteria, with one free matching share for every two savings shares if performance targets are met, or one matching share for every three savings shares if not [4]. - The rewards will be distributed partly in shares and cash after the holding period, with the cash portion intended to cover taxes and social security contributions [5]. Deferred Compensation for Risk-Taking Positions - For employees in risk-taking positions, rewards will be paid in a deferred schedule over approximately four years, with a one-year retention period for the shares received [6]. Participation and Financial Implications - The ESSP will be available to around 610 employees, including management and the CEO [7]. - The gross value of matching shares for the third plan period is capped at approximately EUR 1,900,000, equating to a maximum of about 134,000 shares at a share price of EUR 13.25 [8]. Company Profile - Oma Savings Bank Plc is a solvent and profitable Finnish bank, serving over 200,000 customers through 48 branches and digital channels [10]. - The bank focuses on retail banking and aims to provide a premium customer experience through personal service and accessibility [11].