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VEON Management increases ownership

11/07/2022

Amsterdam, 11 July 2022 - VEON Ltd. (NASDAQ: VEON, Euronext Amsterdam: VEON), a global digital operator that provides converged connectivity and services, announces the completion of two management share transfers as part of the Group's incentive program announced in February 2022.

Following our press release on 28 February 2022 detailing the new incentive plan rules and specific awards, today we can confirm the completion of share transfers to the Group CEO and Group CFO. The shares were awarded as part of VEON's Deferred Share Plan. This award represents a further step in aligning the executive team's remuneration with the successful implementation of our digital operator strategy and long-term value creation for our shareholders.

As previously communicated, Group Executive Committee ( GEC ) members will over time accrue and then maintain a minimum level of VEON shares. This will be equivalent to 6.0x the annual base salary for the Group CEO and 2.0x annual base salary for other GEC members. Following this transaction, the total number of ADR/ORDs held by Kaan Terzioglu is 1,674,900 and by Serkan Okandan is 222,172.
LINK: https://www.veon.com/media/media-releases/2022/veon-management-increas...
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