VEON Announces Vesting of Conditional Award to Group CEO Kaan Terzioglu
12/09/2024
VEON Announces Vesting of Conditional Award to Group CEO Kaan Terzioglu Amsterdam, 12 September 2024 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and online services, announces the vesting of a conditional incentive award (the Conditional Award ) to its Group Chief Executive Officer, Kaan Terzioglu. This Conditional Award was made under VEONs 2021 Long Term Incentive Plan ( LTIP ).
Award Details and Vesting Conditions
On 10 January 2024, Kaan Terzioglu was granted a Conditional Award under the LTIP, comprising 3,201,250 common shares in VEON Ltd and subject to performance targets. The performance targets set out in the award agreement have been successfully met, resulting in the vesting of the award on 30 July 2024. Under the original terms, the common shares under the Conditional Award were scheduled to be released to Mr. Terzioglu within 30 days of vesting.
Settlement Terms
Due to VEON's current lack of available securities registered under Form S-8, the Company and Mr. Terzioglu have agreed to amend the terms of the Conditional Award to provide a structured settlement, which includes both cash and equity components:
Cash Payment: A gross cash payment of USD 500,000 was made to Mr. Terzioglu in August 2024; and
Equity Payment: A transfer of 2,729,000 common shares (equivalent to 109,160 ADSs) will be completed by no later than August 31, 2025. As of 10 September 2024, Mr Terzioglu is the beneficial owner of such shares but will not hold the shares directly until the transfer in 2025 to ensure compliance with the selling restrictions applicable to the shares.
These payments will be made as full and final settlement of the award, with applicable deductions for any tax liabilities and any other deductions required by law.
About VEON
VEON is a digital operator that provides converged connectivity and digital services to nearly 160 million customers. Operating across six countries that are home to more than 7% of the world's population, VEON is transforming lives through technology-driven services that empower individuals and drive economic growth. Headquartered in Amsterdam, VEON is listed on Nasdaq and Euronext. For more information visit: www.veon.com.
Disclaimer
This release contains forward-looking statements, as the phrase is defined in Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. Forward-looking statements are not historical facts, and include statements relating to timing of the awards described above. Forward-looking statements are inherently subject to risks and uncertainties, many of which VEON cannot predict with accuracy and some of which VEON might not even anticipate. The forward-looking statements contained in this release speak only as of the date of this release. VEON does not undertake to publicly update, except as required by U.S. federal securities laws, any forward-looking statement to reflect events or circumstances after such dates or to reflect the occurrence of unanticipated events. There can be no assurance that the initiatives referred to above will be successful.
This website stores cookies on your computer. These cookies are used to improve vour website experience and provide more personalized services to you, both on this website and through other media. To find out more about the cookies we use, see our Privacy Policy
We wont track your information when you visit our site. But in order to comply with your preferences, well have to use just one tiny cookie so that youre not asked to make this choice again.
AcceptDecline
LINK: | https://www.veon.com/newsroom/press-releases/veon-announces-vesting-of... |
See more stories from vimpel |
Europe Stories
09/12/2024
Dalet Named an IDC Innovator in Media and Entertainment
Dalet, a leading technology and service provider for media-rich organizations, today announced that it has been named an IDC Innovator in the IDC Innovators: ...
09/11/2024
Dalet Expands Leadership Team to Fuel Next Stage of Growth
Dalet, a leading technology and service provider for media-rich organizations, today announced three new members of its executive team. Tara Bryant joins as Chi...
18/09/2024
Line up revealed for World's Most Dangerous Roads S6
Johnny Vegas & Lucy Beaumont and Babatunde Al sh & Kae Kurd arethecomedians taking part in brand new episodes of World's Most Dangerous Roads, which return...
18/09/2024
TV channel Gold's Absolutely Fabulous: Inside Out is joined by celebrities Emma Bunton, Meera Syal, Ruby Wax and more
The nation's favourite comedy channel, Gold, is set to take a reflective loo...
18/09/2024
Press Release: ToolsOnAir Wins 2024 OEM & Developer Award from Blackmagic Design at IBC
Press Release: ToolsOnAir Wins 2024 OEM & Developer Award from Blackmagic Design...
18/09/2024
Mi Primer Escenario' ofrece a los artistas emergentes en Mxico la oportunidad de tomar el escenario en MEXCLA Spotify
Apoyar a los artistas emergentes es parte fundamental del ADN de Spotify. Ahora ...
18/09/2024
Mi Primer Escenario' Offers Emerging Mexican Artists a Chance To Perform at MEXCLA Spotify'
Supporting emerging artists is a fundamental part of Spotify's DNA, and we...
18/09/2024
Clear-Com Supports the Next Generation of Media Professionals at Rise Academy Summer...
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
18/09/2024
Eutelsat Group Secures Additional Launches in New Agreement with Mitsubishi Heavy Industries
Photo credit: Mitsubishi Heavy Industries, Ltd Press release - 18 September 20...
18/09/2024
2024-09-18
iPadOS 18 makes the iPad experience more versatile and intelligent than ever, and is available today as a free software update. iPadOS 18 brings incredible new ...
18/09/2024
Thales contributes to the production of seven additional sections of the SAMP/TNG for the French Air and Space Forces
Facebook Twitter LinkedIn Thales As announced on the 17 September 2024 ...
18/09/2024
Vulnerable APIs and Bot Attacks Costing Businesses up to $186 Billion Annually
Facebook Twitter LinkedIn API insecurity and automated abuse by bots responsible for up to 11.8% of cyber events and losses globally Bot-related security...
17/09/2024
FIRST LOOK at Damien Molony in re-imagined series of Bergerac for U and U&DRAMA
UKTV today releases a selection of first look images captured in Jersey for the upcoming re-imagined series of Bergerac (6x60') for U and U&DRAMA. The six-p...
17/09/2024
A Collaboration With Panavision: Oona Menges, BSC
Set in a call center in Bristol, England, the television sitcom Ruby Speaking focuses on the eponymous Ruby (played by Jayde Adams) and her colleagues. It'...
17/09/2024
How Rodeo FX blended science fiction and reality for Saudi Odyssey
The advert was worked on by Rodeo FXs teams in Montreal and Paris By Jenny Priestley Published: September 17, 2024 The advert was worked on by Rodeo FX...
17/09/2024
IBC2024 reports more attendees and exhibitors than 2023
Organisers have also confirmed the dates for IBC2025 By TVBEurope Staff Published: September 17, 2024 Organisers have also confirmed the dates for IBC2025...
17/09/2024
Word cloud: Sum up IBC2024 in one word
By TVBEurope Staff Published: September 17, 2024 Updated: September 18, 2024 During the TVBEurope team's meetings with vendors at IBC2024, we asked e...
17/09/2024
X-Rite ColorDesigner PLUS Helps Paint Manufacturers and Retailers Improve Paint Color Matching and Maximize Sales
X-Rite ColorDesigner PLUS Helps Paint Manufacturers and Retailers Improve Paint ...
17/09/2024
Rohde & Schwarz joins forces with fiveD, an innovation leader in hyper-realistic radar simulations
Rohde & Schwarz joins forces with fiveD, an innovation leader in hyper-realistic...
17/09/2024
2024-09-17
With the release of iOS 18, iPadOS 18, macOS Sequoia, and watchOS 11 today, Apple Maps is introducing new features to help users explore and find places they lo...
17/09/2024
Thales Australia's Lithgow Arms partners with Vbenfabrikken to establish Danish small arms industrial capability
Facebook Twitter LinkedIn On 17 September 2024, Thales Australia and Denma...
17/09/2024
Thales joins the CAC 40 ESG index
Facebook Twitter LinkedIn The inclusion of Thales in this index reflects the Groups accelerating progress in terms of social and environmental responsibil...
16/09/2024
UKTV joins BBC, ITV, Channel 4 & Channel 5 on Freely, the UK's new live and on demand streaming platform
UKTV and Everyone TV - the organisation leading the evolution of free TV in the ...
16/09/2024
2024-09-16
visionOS 2 is available today, bringing new spatial computing experiences to Apple Vision Pro users around the world. Existing photos can now be turned into spa...
16/09/2024
Rise Awards 2024 nominations announced
The awards recognise women and companies who are stand-out performers, innovators and leaders in the industry By TVBEurope Staff Published: September 16, 202...
16/09/2024
TVBEurope Best of Show IBC2024 winners announced
By Jenny Priestley Published: September 15, 2024 Updated: September 18, 2024 Future's Best of Show at IBC2024 awards have been announced, with exhibi...
16/09/2024
RT Publishes 2023 Annual Report
RT RETURNS NET DEFICIT OF 9.1 MILLION IN 2023 A CHALLENGING YEAR FOR THE ORGANISATION A DECLINE IN TV LICENCE REVENUES, ALONG WITH AN INCREASE IN OPERATING...
16/09/2024
RT Investigates to air revealing documentary on immigration protests in Ireland
RT Investigates to air revealing documentary on immigration protests in Ireland Never before seen footage - In a change to scheduled programming Prote...
16/09/2024
VEON Delegation Attends 2024 YES Annual Meeting, Discusses Investment and Continued Commitment to Serving Ukraine
16 Sep 2024 VEON Delegation Attends 2024 YES Annual Meeting, Discusses Investme...
16/09/2024
cetecom advanced re-certifies Rohde & Schwarzs eCall PSAP for testing and collaborates on Next Generation eCall
cetecom advanced re-certifies Rohde & Schwarzs eCall PSAP for testing and collab...
16/09/2024
Harmonic Charts the Future of Broadband at SCTE TechExpo24
SAN JOSE, Calif. - Sept. 16, 2024 - Harmonic (NASDAQ: HLIT) today announced that the company will demonstrate its intelligent ecosystem for fiber and DOCSIS net...
16/09/2024
Arvato Systems and advanco Launch Comprehensive Partnership
Arvato Systems and advanco Launch Comprehensive Partnership Arvato Systems and advanco Combine Serialization Solutions Arvato CSDB and ARC G tersloh - Arvato...
16/09/2024
International ID Day: Thales stands up for a legal and trusted identity for everyone.
Facebook Twitter LinkedIn On the International Identity Day ID Day', ...
14/09/2024
Showcases, Subway Cars, and a Speakeasy: Inside the Spotify x Samsung Galaxy Fresh Finds Event in NYC
At Spotify, our live experiences are curated cultural moments that get people ta...
14/09/2024
Eutelsat selected by SABA WORLD to deliver educational content across the MENA region
Photo credit: GETTY IMAGES Press release - 14 September 2024 12:59 Eutelsat ...
13/09/2024
Spotify Pilots New Music Experience for Young Listeners on Family Plans
Spotify is committed to bringing the best listening experience to all our users, and that includes parents and families. That's why we've introduced a p...
13/09/2024
Spotify's New Countdown To' Vodcast Series Kicks Off With Artists Jelly Roll and mgk in Debut Episode
As fans patiently await their favorite artists' new album releases, the anti...
13/09/2024
The Making of Beetlejuice Beetlejuice
What I've always loved about his films is that incredible warmth and that incredible imagination, cinematographer Haris Zambarloukos, BSC, GSC says of dire...
13/09/2024
Revolution in Storage: EditShare Reveals Game-Changing New Line Up at IBC 2024
Revolution in Storage: EditShare Reveals Game-Changing New Line Up at IBC 2024 More power, more speed, more flexibility, more capacity, more security, more co...
13/09/2024
M2A Media welcomes Ciarn Doran and Graham Pitman as new CEO and chairman
Both appointees join the company following extensive careers in the industry By Matthew Corrigan Published: September 13, 2024 Updated: September 16, 2024 ...
13/09/2024
Introducing the 2061 Miniature Omni Mic
The 2061 also offers simplicity, durability and reliability combined with DPA's natural sound. We launched the 2061 to appeal to audio professionals who ar...
13/09/2024
VEON General Counsel Omiyinka Doris Named Among Top 15 Legal Leader by the Financial Times
13 Sep 2024 VEON General Counsel Omiyinka Doris Named Among Top 15 Legal Leader...
13/09/2024
Sky Studios Elstree opens Sky Up Academy to inspire 10,000 students a year to pursue a career in Film and TV
Sky Studios Elstree opens Sky Up Academy to inspire 10,000 students a year to pu...
13/09/2024
Countering the autonomous aerial threat
Countering the autonomous aerial threat In an interview, Martin Woywod, Product Manager Counter-UAS (CUAS) Systems, Rohde & Schwarz , talks about the need for...
13/09/2024
WDR Relies on Riedel Backbone for Remote Production of UEFA Euro 2024
Amsterdam September 13, 2024 WDR Relies on Riedel Backbone for Remote Production of UEFA Euro 2024The German regional public broadcaster Westdeutscher Rundfu...
13/09/2024
Riedel Expands Its Range of NSA Network Stream Adapters
Amsterdam September 13, 2024 Riedel Expands Its Range of NSA Network Stream AdaptersRiedel Communications today announced the launch of two new additions to i...
13/09/2024
Riedel Communications Launches Virtual SmartPanel at IBC2024
Amsterdam September 13, 2024 Riedel Communications Launches Virtual SmartPanel at IBC2024At IBC2024, Riedel Communications announced the launch of its ground...
13/09/2024
Riedel Unveils Revolutionary SAME Smart Audio & Mixing Engine at IBC2024
Amsterdam September 13, 2024 Riedel Unveils Revolutionary SAME Smart Audio & Mixing Engine at IBC2024Riedel SAME Delivers Ultra-Low-Latency Audio Processing ...