The Board of Directors of Kesko Corporation has decided to implement the resolution made by the Annual General Meeting on 30 March 2023 to pay approximately 30% of the annual fees for members of the Board in B series shares in the company, by using B shares held by the company as treasury shares in the payment of the share portion of the fees.
The total number of shares to be transferred is 6,000 B shares which, in line with the General Meeting resolution, corresponds to approximately 30% of the annual fee of each Board member calculated on the closing price of 26 April 2023. The transfer of the shares will take place, in line with the General Meeting resolution, on the first working day to follow the publication of the interim report for the first quarter of 2023. The General Meeting resolution was communicated in a stock exchange release on 30 March 2023.
In addition, the Board of Directors has decided, based on the fulfilment of the performance criteria for the KPSP 2021 share-based commitment and incentive plan, to grant a total of 1,181 Kesko B shares held by the company as treasury shares to a member who was included in the target group for the plan. The number of shares represents gross earning from which the applicable transfer tax and withholding tax are deducted, and the remaining net amount is paid to the participant in shares.
The transfer of the shares is based on the authorisation granted to the Board of Directors by the General Meeting on 30 March 2023.
Further information is available from Lasse Luukkainen, Group General Counsel, tel. +358 105 322 818.
Nasdaq Helsinki Ltd
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