The remuneration of the CEO consists of fixed annual pay, including a base salary and fringe benefits, and variable salary components, such as short-term and long-term incentives and a supplementary pension.
CEO Esa Harju’s fixed monthly salary was 2024 EUR 23,552 per month, including taxable fringe benefits (car benefit, phone benefit and health insurance). The CEO is also entitled to holiday pay.
Long-term incentive schemes (LTI)
CEO Esa Harju is included in the following ongoing long-term incentive schemes:
Performance Matching Share Plan 2023-2025
The performance criterion of the performance matching plan is the development of Absolute Total Shareholder Return and the cumulative adjusted operating result. The performance ratio of the matching share plan is one additional share per two invested shares. The maximum earning potential is 75,000 Teleste shares.
Performance Matching Share Plan 2024-2026
The performance criterion of the performance matching plan is the development of Absolute Total Shareholder Return and the cumulative adjusted operating result. The performance ratio of the matching share plan is one additional share per two invested shares. The maximum earning potential is 93,600 Teleste shares.
Performance Matching Share Plan 2025-2027
The performance criterion of the performance matching plan is the development of Absolute Total Shareholder Return and the cumulative adjusted operating result. The performance ratio of the matching share plan is one additional share per one invested share. The maximum earning potential is 119,000 Teleste shares.
Short-term incentive schemes (STI)
Year 2024
The CEO’s maximum earning opportunity was 79.4% of the annual base salary (ten months’ base salary) excluding bonuses. The general financial minimum criterion specified in Teleste’s policy concerning the short-term incentive scheme was not met. Consequently, the CEO will be paid no bonuses under the short-term incentive scheme for 2024.
Other remuneration
| Pension | A defined contribution supplementary pension is included in the CEO’s contract. The payment level of the group pension is 25% of base pay, excluding bonuses, until the age of 65 or termination of employment. |
| Other benefits | The CEO has a car benefit, a mobile phone benefit and health insurance. |
| Shareholding recommendation | The CEO shall accumulate and subsequently maintain a shareholding in the company that corresponds to the CEO’s annual fixed salary. The CEO shall retain at least 50% of the net shares received under the company’s share-based incentive schemes until the CEO’s shareholding in the company has reached the aforementioned level. |
| Employment contract and severance pay | A six-month notice period applies upon termination of the contract by the CEO. In the event that the company terminates the contract, the CEO is entitled to twelve months’ salary and a separate severance pay corresponding to six months’ salary. |
Updated 2025