Stock exchange release
Free for publication on March 24, 2022, at 11.30 am (CET+1)
The Board of Directors of Bittium Corporation (hereafter Company) has decided today on March 24, 2022, to pay share rewards to the Company's management under the Company's share-based incentive scheme. The share rewards will be paid in Bittium Corporation shares to be acquired at a price formed in public trading.
The share-based incentive scheme consists of three Performance Share Plans ("PSPs"). Today's decision is about the second Performance Share Plan (PSP 2021-2023) of the incentive scheme. The incentive scheme was originally established and announced in March 2020. The objectives of the share-based incentive scheme are to align the interests of Bittium's management with those of the Company's shareholders and, thus, to promote shareholder value creation in the long term, to commit the management to achieve Bittium's strategic targets and the retention of Bittium's management.
A total of 13,467 shares of the Company will be issued free of charge to the management entitled to the share rewards in accordance with the terms and conditions of the incentive scheme. The recipients of the rewards are eight (8) members of the Company's Management Group.
Oulu, Finland, March 24, 2022
The Board of Directors
Tel. +358 40 344 5258
Nasdaq Helsinki Oy
Bittium specializes in the development of reliable, secure communications and connectivity solutions leveraging its over 35-year legacy of expertise in advanced radio communication technologies. Bittium provides innovative products and services, customized solutions based on its product platforms and R&D services. Complementing its communications and connectivity solutions, Bittium offers proven information security solutions for mobile devices and portable computers. Bittium also provides healthcare technology products and services for biosignal measuring in the areas of cardiology and neurology. Net sales in 2021 were EUR 86.9 million and operating profit was EUR 3.2 million. Bittium is listed on Nasdaq Helsinki. www.bittium.com
The Payment of Bittium Corporation's Share Rewards based on the Share-based Incentive Scheme (wkr0006.pdf)