In accordance with the authorisation granted by the Annual General Meeting
According to the remuneration policy the BoD will at allotment of share options seek to allot a number of share options with a total fair value, calculated according to the Black-Scholes model, that is partly linked to the annual base salary for each individual. Other elements that will be assessed in the allotment are the balance between total short- and long-term performance-based rewards, current value of share options held, overall performance, work responsibility, importance of retention and position.
The number of share options granted is based on these guidelines and in addition, the share options are granted with a value cap of 20 times the strike price. If this value cap threshold is met all share options will vest immediately and be available for exercise.
To ensure long-term ownership by executive management, shares obtained by exercise of share options shall be held for at least one year, except shares to be sold immediately to cover transaction costs and tax under a so-called cash-less exercise. Through the long-term incentive program the board expects members of the executive team to build up and maintain share ownership with a market value equal to at least one-year gross base salary, before any shares may be sold.
Of the 700,000 share options, 440,000 share options were allotted to the following primary insiders:
300,000 share options were allotted to
120,000 share options were allotted to Anders Høgset, CSO. After the allotment, Anders Høgset holds a total portfolio of 370,000 unexercised share options and 64,800 shares.
20,000 share options were allotted to Kristin Eivindvik, CDO. After the allotment, Kristin Eivindvik holds a total portfolio of 130,000 unexercised share options and 25,200 shares.
Primary insider notifications pursuant to the market abuse regulation article 19 are attached.
The current authorisation, as of
For more information, please contact:
This information is subject to the disclosure requirements pursuant to the market abuse regulation article 19 and to section 5-12 of the Norwegian Securities Trading Act.
Attachment
- PCIB - primary insider notification KRT-1500 04092023
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