VEON announces details of new incentive plan aligned with total shareholder return
Amsterdam, 28 February 2021 – VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a leading global provider of connectivity and internet services, today announces the details regarding its new incentive plan for the Group GEC.
Following our initial communication on 7 December 2021, we have today announced finalisation of the incentive plan rules and the details of the specific awards. As previously communicated, this includes a number of key elements:
DEFERRED SHARE PLAN |
LTI 2021 |
|
# Shares |
# Shares |
|
Kaan Terzioglu |
1,549,800 |
2,583,000 |
Serkan Okandan |
444,343 |
1,777,372 |
Dmitry Shvets |
191,429 |
765,715 |
Alex Bolis |
128,572 |
514,286 |
Joop Brakenhoff |
393,236 |
740,572 |
Michael Schulz |
291,429 |
582,858 |
TOTAL |
2,998,809 |
6,963,803 |
In order to compensate GEC members for the initial loss of cash due to the introduction of 50% shares into the STI scheme effective 2022, a one-off share award has been granted. The shares have been awarded pursuant to VEON’s Deferred Share Plan, with up to a two year vesting period on the shares.
Kaan Terzioğlu, VEON’s CEO, said: “As the management team continues to build its shareholding in the Group over the next few years, we will be more closely aligned with our shareholders objectives.”
Disclaimer
This release contains "forward-looking statements", as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to, among other things, expectations regarding the benefits of VEON’s Deferred Share Plan and Long Term Incentive scheme. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events.
About VEON
VEON is a NASDAQ and Euronext Amsterdam-listed global provider of connectivity and internet services. For more information visit: www.veon.com.