Spinnova’s Board Establishes New Performance-Based Share Bonus System for Key Personnel
Spinnovan, a fiber company, has recently announced the establishment of a new performance-based share bonus system for its key personnel. This new system will be in effect from 2024 to 2028 and will cover the group’s top performers. The fees paid from the first earning period will amount to a maximum of approximately 992,000 Spinnova shares, including a portion paid in cash. According to the company’s press release, any fees that may be paid from the system will be distributed partly in shares and partly in cash. The monetary contribution is intended to cover the taxes and statutory social insurance contributions incurred by the participant. Bonuses are paid within five months of the end of the earning period, and generally, no bonus is paid if the participant’s employment or business relationship ends before the bonus is distributed.
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