Vestas Wind Systems A/S
Share-based incentive programme 2015
Vestas Wind Systems A/S 15.04.2015 11:45 Dissemination of a Adhoc News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Aarhus, Denmark, 2015-04-15 11:45 CEST (GLOBE NEWSWIRE) -- At the annual general meeting held on 30 March 2015, the revised remuneration policy and general guidelines for incentive pay for the Board of Directors and the Executive Management of Vestas Wind Systems A/S were adopted. The Board of Directors has subsequently set out the terms and conditions governing the restricted performance share programme for the year 2015 for all participants, including the Executive Management. The new share-based incentive programme is an adjustment of the previous programmes and will still be based on restricted performance shares. The programme is adjusted to a performance period of three years replacing the previous one-year performance period and a performance measurement based on financial key performance indicators as well as the Vestas Group's market share as defined by the Board of Directors. Partic The Executive Management, Group Senior Vice Presidents, Senior Vice ipants Presidents, Vice Presidents, Chief Specialists and Chief Project Managers in the Vestas Group. The programme for 2015 includes 190 participants. -------------------------------------------------------------------------------- Number The number of shares to be granted is based on a target level for each of corporate level. No payments for any grants are made by the share participants. If all KPIs are reached on target level, a total of s 340,000 shares will be granted from the programme with a total present value calculated based on the current share price amounting to EUR 15m (value at close of Nasdaq Copenhagen on 14 April, 2015). For 2015, the target number of shares for the Executive Management will be 120,000 shares in total. The actual number of restricted performance shares available for distribution may range between 0 and 150 per cent of the target level and is determined by Vestas' performance in the financial years 2015, 2016, and 2017. The maximum grant of shares under the programme in total is 510,000 shares based on full performance achievement. -------------------------------------------------------------------------------- Time The restricted performance shares are to be granted in two equal of portions in 2018 and 2020. grant -------------------------------------------------------------------------------- Key The KPIs for all three performance years are based on Vestas' Perfo performance on earnings per share (EPS), return on invested capital rmance (ROIC), as well as the Vestas Group's market share estimated by a Indic predefined, independent, well-reputed supplier of such data. ators -------------------------------------------------------------------------------- Condit The restricted performance shares are governed by the specific terms and ions conditions of the programme and subject to mandatory law. If a participant chooses to leave Vestas before the time of grant, the participant's rights to receive the shares will generally lapse. -------------------------------------------------------------------------------- Adjust The number of shares available for grant may be adjusted in the event of ments changes in Vestas' capital structure. Further, in the event of a change to of control, merger, winding-up or demerger of Vestas, an accelerated the grant may extraordinarily take place. In the event of certain transfers progr of activities or changes in ownership interests within the Vestas amme Group, adjustment, replacement of the programme and/or settlement in cash of the programme entirely or partly may also take place. -------------------------------------------------------------------------------- Contact details Vestas Wind Systems A/S, Denmark Hans Martin Smith, Senior Vice President, Investor Relations Tel.: +45 9730 8209 News Source: NASDAQ OMX 15.04.2015 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Vestas Wind Systems A/S Denmark Phone: Fax: E-mail: Internet: ISIN: DK0010268606 WKN: End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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