2022-07-04 13:05:00 CEST

2022-07-04 13:05:06 CEST


Fellow Pankki Oyj - Other information disclosed according to the rules of the Exchange

Fellow Bank Plc Board of Directors decided on an incentive scheme for key personnel that replaces the option program used at Fellow Finance


The Board of Directors of Fellow Bank Plc has decided to launch a share plan for
group's key employees. New share plan replaces Fellow Finance's discontinued
option plans due to merger. The target group of the share plan includes in total
14 key employees including some management team members.

The aim of the plan is to combine the objectives of the shareholders and the key
employees to increase the company's value in the long term, and to engage
participants in the company and to offer them competitive reward plan based on
earning and accumulating the Company´s shares that support company's strategy.

The share appreciation rights plan (“SAR”) 2022 includes one SAR period starting
1.4.2022 and ending 31.3.2024. In the plan, it is possible for the target group
to earn a share reward based on value increase of Fellow Bank Plc share. One
share unit entitles to appreciation of one share. Share units are divided into
classes 2022A (around 650,000 units) and 2022B (around 2,500,000 units). Share
appreciation is measured from the baseline of 1.27 euros (2022A) and 0.63 euros

Accrued appreciation of the share units is converted to Fellow Bank Plc shares
at the end of the SAR period and any possible rewards are paid deferred
according to the legislation of the financial industry in two equal
installments, in April 2025 and April 2026. Each reward payment is followed by a
mandatory restriction period of 1 year, during which the received shares may not
be sold.

Rewards are paid out partly in Fellow Bank Plc shares and partly in cash. Cash
rewards are to cover taxes and social security payments on participants. If the
participant's employment or managerial contract expires before the reward is
paid, the reward is generally not paid.


The Board of Directors

Further information

Teemu Nyholm, CEO, Fellow Bank Plc, teemu.nyholm@fellowpankki.fi, tel. +358 50
577 1028

Fellow Bank in brief

Fellow Bank Plc is a new Finnish digital bank that helps both personal and
business customers to manage their day-to-day finances in a flexible and
straightforward manner. For savers, we offer an attractive interest rate on
deposits. Fellow Bank Plc is regulated by the Financial Supervisory Authority of
Finland and listed on Nasdaq Helsinki's main list (FELLOW). www.fellowbank.com.