February 28, 2020 / 6:22 AM / a month ago

BRIEF-UBS Introduces Long-Term Incentive Plan For Most Senior Leaders

Feb 28 (Reuters) - UBS Group AG:

* EFFECTIVE FOR THE PERFORMANCE YEAR 2019, WE REPLACED THE EQUITY OWNERSHIP PLAN (THE EOP) WITH THE NEW EQUITY-BASED LONG-TERM INCENTIVE PLAN (THE LTIP) FOR OUR MOST SENIOR LEADERS

* LTIP FEATURES AN ABSOLUTE AND A RELATIVE PERFORMANCE CONDITION BASED ON REPORTED RETURN ON CET1 CAPITAL (ROCET1) AND RELATIVE TOTAL SHAREHOLDER RETURN (RTSR) METRICS

* ACHIEVING THE MAXIMUM PAYOUT UNDER THE LTIP REQUIRES BOTH A THREE-YEAR AVERAGE ROCET1 OF 18% AND, OVER A THREE-YEAR PERIOD, FOR OUR TSR TO OUTPERFORM THE PEER INDEX BY 25 PERCENTAGE POINTS

* FOR GROUP CEO AND CERTAIN OTHER GEB MEMBERS, THE VESTING OF A PORTION (30%) OF THE 2019 LTIP AWARD IS DIRECTLY LINKED TO THE FINAL RESOLUTION OF THE FRENCH CROSS-BORDER MATTER

* STARTING WITH THE CURRENT PERIOD FROM THE 2019 AGM TO THE 2020 AGM, THE CHAIRMAN’S FIXED COMPENSATION WAS REDUCED BY 14%

* FROM 2020 AGM ONWARD, BOARD OF DIRECTORS WILL REDUCE FEES FOR ALL ITS MEMBERS AND ELIMINATE THE SHARE PRICE DISCOUNT Source text: bit.ly/3abnmuZ Further company coverage: (Reporting by Brenna Hughes Neghaiwi)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below