The 2022-2024 LTI Plan provides three yearly grants with a three-year vesting period for each cycle (1st Cycle 2022-2024, 2nd Cycle 2023-2025 and 3rd Cycle 2024-2026).
The Plan provides the beneficiaries with the right to receive, free company shares if predetermined set of performance conditions are met at the end of each vesting period.
The final number of vested shares vs. the granted, is based on the achievement of the KPIs at the end of each vesting period.
The Key Performance Indicators which underpin each cycle of 2022-2024 Plan, are the following:
|
Stakeholders |
Objective |
Weight |
|
Financial Sustainability and Growth |
EBITDA |
60% |
|
Investors |
Relative Total Shareholders Return |
30% |
|
ESG: Sustainability |
Environment, Social and Governance impact |
10% |
For the first cycle 2022-2024, Key Performance Indicators which underpin the vesting of the Performance Share Plan, in line with doValue’s growth, approved by the Board of Directors of 28 March 2022 upon proposal of the Appointments and Remuneration Committee, are the following:
|
Stakeholders |
Objective |
KPI |
Weight |
|
Financial Sustainability and Growth |
Group EBITDA |
Group EBITDA excluding non-recurring items and M&A (CAGR) |
60% |
|
Investors |
doValue TSR Vs Peer Group TSR and doValue TSR Vs Mid Cap index |
30% |
|
|
ESG Sustainability |
Employee Engagement + Sustainability Index |
Group Employee Engagement increase during the vesting period (LTI_ESG doValue Index) Sustainability Index Improvement (including and not limited to MSCI, Sustainalytics, Vigeo Eiris) |
10% |
For each KPI a threshold, target and maximum level will be set and the vesting of the granted shares will be defined.
Additionally, no award under the Plan will be made in the event that the entry condition is not met, Group EBITDA at the end of vesting period of each cycle (2024, 2025 and 2026) at least equal to the 70% of Group EBITDA defined in the annual plan (strategic and operational).
