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Bret McLeod. Credit: Citycon

Citycon resolved on the long-term incentive plan for the new CFO

The Board of Directors of Citycon Oyj has approved a new Restricted Share Plan 2021—2024 for the Citycon´s incoming CFO, Bret McLeod who will commence his appointment as CFO on 1 January 2022.

The aim of the new plan is to combine the objectives of the shareholders and the incoming CFO in order to increase the value of the company in the long-term, to retain the CFO at the company, and to offer him a competitive reward plan based on receiving and accumulating the company´s shares.

The new CFO Restricted Share Plan 2021—2024 includes three vesting periods ending on 1 August 2022, 2023 and 2024. The rewards to be paid on the basis of the plan correspond to the value of a total of 45,000 Citycon shares including also potential cash proportion to be used for taxes and tax-related costs. The rewards from the plan will be paid in three equal instalments, after the end of each vesting period, unless the CFO has terminated his director contract.