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 2026 EUR 25,616 per month, including taxable fringe benefits. 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:
Share-based long-term incentive 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.
Long-term incentive plan
The purpose of the long-term incentive plan is to provide incentives to the CEO for executing the Company’s strategy and to further strengthen the CEO’s commitment to the Company.
The retention plan is in line with Teleste’s Remuneration Policy for the Company’s Governing Bodies.
The maximum earning potential is 75,000 Teleste shares.
Short-term incentive schemes (STI)
Year 2025
The CEO’s maximum earning opportunity was 95.2% of the annual base salary (twelve months’ base salary) excluding bonuses. The Board of Directors evaluates the achievement of the targets at the end of the earnings period. For 2025, the CEO’s bonus under the short-term incentive scheme is EUR 179,091, or 60.3% of the maximum earning opportunity under the incentive scheme (57.4% of the annual base salary). The achievement levels of the performance criteria were as follows (target level 50% and maximum level 100%):
- The achievement level for the Group’s adjusted EBIT was 56.3% of the criterion-specific maximum level
- The achievement level for the development of net working capital was 75% of the criterion-specific maximum level
- The achievement level for the performance indicator related to the Group’s sustainability was 50% of the criterion-specific maximum level
- The achievement level for the strategy-linked personal target was 60% of the criterion-specific maximum level
The short-term incentive bonus will be paid in spring 2026.
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 2026