Insider administration
The Board of Directors has approved the Konecranes Plc Insider Regulations based on Market Abuse Regulation (“MAR”), regulation and guidance given by the European Securities and Markets Authority, the Finnish Securities Markets Act, Nasdaq Helsinki Ltd’s Guidelines for Insiders and guidance given by the Financial Supervisory Authority.
Konecranes maintains an insider list (“Insider List”) recording all persons having access to insider information related to the Company. The Insider List consists of one or more project-specific sections. Konecranes has determined that it will not establish a permanent insider section in this Insider List, and there are thus no permanent insiders in Konecranes.
At Konecranes, persons discharging managerial responsibilities (“Managers”) according to MAR are the members of the Board of Directors, the President and
CEO and the members of the Konecranes Leadership Team.
Managers and their closely associated persons have to notify Konecranes and Financial Supervisory Authority of all transactions, as defined in MAR, conducted on their own account relating to the financial instruments of Konecranes within three days of the transactions. Managers are prohibited from trading in Konecranes’ financial instruments during a closed period starting on the 15th day of the month prior to the end of each calendar quarter and ending when the corresponding interim report or the financial statement bulletin is published, including the day of publication of said report (“Closed Period”).
Konecranes keeps a record of persons who regularly participate in the preparation of Group-level financial results or who can otherwise have access to such information and has decided that the Closed Period set by Konecranes applies to them. Persons included in the Insider List’s project-specific sections are prohibited from trading in Konecranes’ financial instruments until termination of the project concerned.
Related party transactions
Konecranes’ Board of Directors has defined the principles for monitoring and evaluating related party transactions in terms of identification, reporting and supervision of related party transactions, as well as the proper decision-making.
All related party transactions that are not part of the Company’s ordinary course of business, or are made in deviation from customary commercial terms, require a Board decision to be carried out. Such a decision shall be supported by appropriate documentation to demonstrate that the transaction is compatible with the purpose and interests of the Company and is commercially justified.
Konecranes regularly identifies its related parties and follows transactions by those parties through its ERP system, as well as through disclosures by related parties. The existence of other possible related parties in the form of shareholders is reviewed and evaluated throughout the year by the Legal Function to verify whether any shareholder has control or significant influence over Konecranes. The related party transactions connected to the key management personnel are collected systematically once a year by the Legal Function.
In 2023, Konecranes has not conducted related party transactions that would be material from the perspective of the Company or would deviate from the Company’s normal business operations or would not be made on market or market equivalent terms. Information on related party transactions can be found in note 30 to Konecranes’ Financial Statements.
Managers’ transactions
Based on MAR, as of July 3, 2016, Konecranes publishes Managers’ and their closely associated persons’ transactions in Konecranes financial instruments with a stock-exchange release.
MAR does not require maintaining a public insider register and so the Public Insider Register of Konecranes Plc has ceased to exist as of July 3, 2016.