INTESA SANPAOLO: TWO-THIRDS OF ELIGIBLE GROUP EMPLOYEES HAVE PARTICIPATED IN
THE 2022-2025 LECOIP 3.0 LONG-TERM INCENTIVE PLAN
Turin - Milan, 13 June 2022 – With regard to its 2022-2025 LECOIP 3.0 Long-term Incentive Plan, Intesa Sanpaolo communicates that this afternoon was the deadline for exercising the right to withdraw from the subscription to the offer, expired on 30 May 2022, of the Certificates issued by J.P. Morgan and reserved for Professionals employed by the Group in Italy. The Plan, which is based on financial instruments, was approved at the Shareholders’ Meeting held on 29 April 2022 and has already been disclosed to the market.
The LECOIP 3.0 Plan provides for:
- the assignment, free of charge, to employees, of new Intesa Sanpaolo ordinary shares deriving from a capital increase without payment (“Free Shares”), for an amount equivalent to the Variable Result Bonus advance for 2022. Employees may opt to receive the advance in cash and, therefore, not to participate in LECOIP 3.0.
- the assignment, also free of charge, to employees, of additional new Intesa Sanpaolo ordinary shares deriving from the same capital increase without payment (“Matching Shares”) and the subscription by employees to new Intesa Sanpaolo ordinary shares deriving from a capital increase with payment, reserved for employees, through the issue of shares at a discounted price (“Discounted Shares”) against market value.
A total of 45,629 Group employees, 66.43% of those eligible, have participated in LECOIP 3.0 for a countervalue of Free Shares and Matching Shares equal to €139,931,221.
The number of Free Shares, Matching Shares and Discounted Shares, as well as the impact on the Group’s financials will be calculated on the basis of the average price of the Intesa Sanpaolo ordinary shares recorded on the 30 days prior to 30 June 2022 (issue date) and, for the Discounted Shares, on the basis of a discount applied to that average – with the maximum applicable discount to be determined by the Board of Directors at its meeting scheduled for 21 June 2022.
Last updated 13 June 2022 at 19:45