23.1.1. Basic information regarding share option plans
Basic information regarding share option plans
| 2020 plan, 2022 tranche | 2020 plan, 2021 tranche | 2020 plan, 2020 tranche | |
|---|---|---|---|
| Number of share options under the plan | 90,000 | 90,000 | 90,000 |
| Number of shares in sub-part A | 13,500 | 13,500 | 13,500 |
| Number of shares in sub-part B | 22,500 | 22,500 | 22,500 |
| Number of shares in sub-part C | 27,000 | 27,000 | 27,000 |
| Number of shares in sub-part D | 27,000 | 27,000 | 27,000 |
| Sub-part A – return on shares | =WIG | =WIG | =WIG |
| Sub-part B – return on shares | WIG+15% | WIG+15% | WIG+15% |
| Sub-part C – EBITDA increase | 28%-33% | 28%-33% | 28%-33% |
| Sub-part D – net earnings increase | 28%-33% | 28%-33% | 28%-33% |
A common element for all of the aforesaid plans is the required three-year employment period at the Capital Group calculated separately for each tranche, starting from the date of its launch.
The ‘return on shares’ for a given tranche of the 2020 plan is understood as the quotient of the average price of Grupa Kęty S.A. shares in 2022, increased for the value of dividend paid by the Company in the period from 1 January 2020 to 31 December 2022, to the price of shares in 2019.
‘EBITDA increase’ per share (where EBITDA is understood to be profit on operating activities plus depreciation/amortisation) means the quotient of consolidated EBITDA per share attained by the Capital Group of Grupa Kęty S.A. in the second year following the launch year of a given tranche and consolidated EBITDA per share attained by the Capital Group of Grupa Kęty S.A. in the year directly preceding the tranche launch year.
‘Net earnings increase’ per share for a given tranche means the quotient of consolidated net earnings per share attained by the Capital Group of Grupa Kęty S.A. in the second year following the launch year of a given tranche, to consolidated net earnings per share attained by the Capital Group of Grupa Kęty S.A. in the year directly preceding the tranche launch year.
For the second tranche of the 2020 plan, the above reference periods are shifted for 1 year, and for the third tranche they are shifted for 2 years.
The right to acquire share options will arise following the satisfaction of the plan conditions.
The purchase price of the 2020 plan shares equals the average price of the shares of Grupa Kęty S.A. for the period of 12 months preceding the General Meeting that adopts the given plan, less 5%.
The main objectives of the share option plans comprise additional motivation of a larger group of employees to increase the shareholder value, and introduction of a factor making it possible to retain the key employees of the Grupa Kęty S.A. Capital Group on a long-term basis.