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Incentive programmes

​​​​​​​Internationally investors view long-term incentives as an important part of top management compensation. Long-term incentives enhance the alignment of shareholder and management interests and are an important tool for enhanced performance orientation and commitment.
Option programme 
The Group has an option program introduced in 1999, however the last options granted under this programme were granted in 2007 and there is currently no intention to issue any new options in the future.
 
Option programme 
The Group has an option program introduced in 1999, however the last options granted under this programme were granted in 2007 and there is currently no intention to issue any new options in the future.
 
2013 Regular Performance Share Plan
The Remuneration Committee approved a Performance based share plan under which 2 874 000 shares are available for granting. The actual delivery can vary, depending on the Stora Enso Group result, from 0 to 2 874 000 shares. The plan will deliver shares over a three-year period starting 1 March 2014, based on the Group performance during each of the preceding financial years. The plan can vest up to an absolute maximum of 100% of the number of shares awarded provided the result of the performance criteria exceeds the target. The performance criteria and the target is set annually by the Remuneration Committee. The performance criteria for 2013 is based solely on financial measures.
 
The right to undelivered shares is lost if the employee resigns his position or employment is terminated by the company.​

 
Option programme
The Group has an option program introduced in 1999, however the last options granted under this programme were granted in 2007 and there is currently no intention to issue any new options in the future.
 
2012 Regular Performance Share Plan
The Remuneration Committee approved a Performance based share plan under which 3 300 000 shares are available for granting. The actual delivery can vary, depending on the Stora Enso Group result, from 0 to 3 300 000 shares. The plan will deliver shares over a three-year period starting 1 March 2013, based on the Group performance during each of the preceding financial years. The plan can vest up to an absolute maximum of 100% of the number of shares awarded provided the result of the performance criteria exceeds the target. The performance criteria and the target is set annually by the Remuneration Committee. The performance criteria for 2012 is based solely on financial measures.
 
The right to undelivered shares is lost if the employee resigns his position or employment is terminated by the company.​

 
Option programme
The Group has an option program introduced in 1999, however the last options granted under this programme were granted in 2007 and there is currently no intention to issue any new options in the future.
 
Two share-award programmes
Two share-based programmes, i.e. the 2011 Regular Performance Share Plan and the 2011 Early Career Talent Restricted Share Plan, were launched in 2011. 
 
1) 2011 Regular Performance Share Plan
The Remuneration Committee approved a Performance based share plan under which 1 325 000 shares are available for granting. The actual delivery can vary according to the Stora Enso Group result between 0 - 1 987 500 shares. The plan will deliver shares over a three-year period starting 1 March 2012, based on the Group performance during each of the preceding financial years. The plan can vest up to an absolute maximum of 150% of the number of shares awarded provided the result of the performance criteria exceeds the target. The performance criteria and the targets are set annually by the Remuneration Committee. The performance criteria for 2011 are based solely on financial measures.
 
The right to undelivered shares is lost if the employee resigns his position or employment is terminated by the company.
 
2) 2011 Early Career Talent Restricted Share Plan
A Restricted Share plan was launched in 2011 to target individuals in lower levels of the organisation who have performed on a high level and are showing potential to take on more senior positions within the company in the future. The size of this plan is maximum 100 awards and 75 000 shares. The shares will be delivered in March 2014. Typical award size is 500 - 1 000.
 
The right to shares is lost if the employee resigns or employment is terminated by the company before date of delivery.

Option programme
The Group has an option program introduced in 1999, however the last options granted under this programme were granted in 2007 and there is currently no intention to issue any new options in the future.
 
Two share-award programmes
Two share-based programmes, i.e. the Regular Performance Share Program and the Early Career Talents Restricted Share Program, were launched in 2010. 
 
1.) 2010 Regular Performance Share Programme
The Regular Performance Share Program will deliver awards over a three-year period starting 1 March 2011, based on the Group performance during each of the preceding financial years. If the target is not reached no shares will be granted, but if the target is exceeded, up to 150% of the granted shares can be delivered. The target is set annually by the Remuneration Committee and is for 2010 based on reaching target levels for the Group Return on Capital Employed (ROCE). A total number of 500 awards and 1 325 000 shares were granted in 2010. The delivery can then vary according to the company result between 0 – 1 987 500 shares.
 
2.) 2010 Early Career Talents Restricted Share Programme

A Restricted Share program was launched in 2010 to target individuals in lower levels of the organisation who have performed on a high level and are showing potential to take on more senior positions within the company in the future.  The size of this program is  maximum 100 awards and 75 000 shares. The awards will be delivered in March 2013.Typical award size is 525 -1 050. The right to shares is lost if the employee resigns or employment is terminated by the company before date of delivery.

 

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Option programme (2009) 
The Group has an option programme introduced in 1999, however the last options granted under this programme were granted in 2007 and there is currently no intention to issue any in the future.
 
Two share-award programmes (2009)
The two share-based programmes (Restrictive and Performance Share Programmes) that were introduced in 2004 have been continued in 2009. The weighting between plans has been changed with a higher percentage of grants being under the performance related plan. The 2007 programme for Group Executives remains in place, but no additional grants were made. Between 2005–2009 new share based programmes were launched each year. From 2009 new long term incentive programmes are performance share programmes only.
 
1.) The regular performance related plan will deliver awards over a three-year period starting 1 March 2010, based on the Group performance during each of the preceding financial years. If the target is not reached no shares will be granted, but if the target is exceeded, up to 150% of the granted shares can be vested. The target is set annually by the Remuneration Committee and for 2009 was based on reaching target levels for the Group Free Cash Flow. A total number of 1 540 000 shares were granted in 2009 and the vesting can then vary according to the company result between 0 – 2 310 000 shares.
 
2.)The second programme - the restricted share plan - is not performance related.
 
Under all share programmes, the rights to shares are lost if the employee resigns his position or employment is terminated by the company.
 
Early career talents (2009)
The Board also approves an annual allocation of shares under the Performance Share Plan to a maximum of 100 early career talents with the same vesting conditions as for the regular performance share plan.
 

 

North America option programme
On 18 August 2000 the Board of Directors decided to convert the Consolidated Papers’ stock option plans for personnel (1989 Stock Option Plan and 1998 Incentive Compensation Plan) into stock option plans of Stora Enso. 
 
The maximum number of R shares in the form of ADRs that may be subscribed for is 5,680,000. If fully subscribed the share capital will increase by a maximum of EUR 9,656,000.
 
The exercise period is from 11 September 2000 to 14 June 2010 (depending on the date of grant) and the weighted average subscription price is USD 6.9687. The shares represent some 0.6% of the share capital and 0.2% of the voting rights after the exercise of options.​