One thousand key employees to become Sber shareholders
On the year of Sberbank's 180th anniversary, the board has decided to launch long-term stock option programs to motivate its most effective employees. In the first cycle of the program, 1,000 key employees - from experts to vice presidents - will receive part of their remuneration in Sber shares.
Long-term motivation programs for employees that have a key impact on the overall performance will facilitate the implementation of Sber's ambitious goals outlined in Strategy 2023.
The programs will be implemented in three-year cycles with annual interim payments, cycles will be launched on an annual basis. Sber's banking and financial infrastructure will be engaged.
The launch of the first program cycle will not require the purchase of Sber shares from the market, as existing shares in Sber Group will be used.
Herman Gref, CEO and chairman of the executive board, Sberbank:
"The long-term stock incentive program for employees is an effective global practice for talent retention and development. We are glad that Sber's most valuable employees have been given the opportunity to become shareholders and will be able to influence the company's development in the future".
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PJSC Sberbank is Russia's largest bank and a leading global financial institution. Holding almost one-third of aggregate Russian banking sector assets, Sberbank is the key lender to the national economy and one of the biggest deposit takers in Russia. The Government of the Russian Federation represented by the Ministry of Finance of the Russian Federation is the principal shareholder of PJSC Sberbank owning 50% plus one voting share of the bank's authorized capital, with the remaining 50% minus one voting share held by domestic and international investors. Sberbank has customers in 18 countries. The bank has a major distribution network in Russia with about 14,000 branches, while its international operations - subsidiary banks, branches, and chapters - include the UK, US, CIS, Central and Eastern Europe, India, China, and other countries. It holds general banking license No. 1481 dd. August 11, 2015, from the Bank of Russia. Official websites of the bank: www.sberbank.com (Sberbank Group website), www.sberbank.ru.
In 2020 Sberbank underwent a rebranding, offering financial and non-financial services of the bank and Sberbank Group to individual and corporate customers. Today, the Sber ecosystem is a raft of services for life and daily assistance in handling pressing everyday issues for individual customers and businesses. The Sber ecosystem website: www.sber.ru.
|ISIN:||US80585Y3080, RU0009029540, RU0009029557, US80585Y4070|
|EQS News ID:||1262936|
|End of Announcement||EQS News Service|