Governance

Kamux's short-term incentive system is specially designed to motivate and reward members of the management team for reaching their annual business goals. Through this system, the company promotes the implementation of the strategy, strengthens the result-oriented corporate culture and rewards personnel for their concrete achievements.

The criteria for earning the annual performance bonus are confirmed annually by the company's board of directors. These criteria are based on strategic goals and their achievement. The bonus, which is paid at the end of the year-long earning period, is monetary and its amount can be no more than 60% of the annual earnings of the member of the management team (calculated from the fixed salary without holiday compensation and fringe benefits).

The criteria for earning the annual performance bonus for 2025 is a key figure based on the adjusted operating profit for the financial year and the average value of inventory. For members of the Management Team other than the Group CFO, the short-term annual performance bonus is also influenced by personal targets (weighing 20%). The annual performance bonus is paid on the condition that the limit for group-level adjusted operating profit, set by the company for incentives, has been met.

The aim of the performance matching share plan is to align the objectives of the shareholders and the key employees in order to increase the value of the company in the long term. The plan is intended to encourage key employees to personally invest in the company’s shares, to steer them toward achieving the company’s strategic objectives, to retain them at the company, and to offer them a competitive incentive plan that is based on acquiring, earning and accumulating Kamux’s shares.

The plan started at the beginning of 2025, and it includes three performance periods covering the financial years 2025– 2027, 2026–2028 and 2027– 2029. The Board will decide annually on the commencement and details of a performance period. The prerequisite for participating in the plan and receiving the reward is an allocation of freely transferable Kamux’s shares held by the key employee to the plan or that the key employee acquires Kamux’s shares in a number determined by the Board.

In the performance matching share plan, the key employees have the opportunity to earn shares of Kamux based on performance and their personal investment in the shares of Kamux. The potential rewards will be paid partly in shares of Kamux and partly in cash. The cash proportion of the reward is intended for covering taxes and statutory social security contributions arising from the reward to the key employees. The potential rewards from the plan will be paid within five months from the end of each performance period. As a rule, no reward is paid if the key employee’s employment or director contract terminates before the reward payment.

The members of the management team are obliged to hold 50 per cent of the net reward shares received from the performance matching share plan, until the total value of the management team member’s shareholding in Kamux equals 50 per cent of their annual base salary of the preceding calendar year.

The performance criteria for the first performance period are Total Shareholder Return, Earnings per Share and an ESG criterion.

The pension benefits of the members of the Management Team are determined by the statutory pension system. 

The members of the Management Team are entitled to a car and phone benefit. 

The members of the Management Team have a three- to six-month period of notice and they are entitled to salary during the period of notice.

The table below presents the total salaries and remuneration paid in 2024 to members of the Management Team excluding the CEO:

1) Including fringe benefits

As a rule, if the employment or service relationship of a member of the Management Team ends before the payment of the share-based reward, the reward is not paid.