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Hexagon Composites — Remuneration Information 2021
Mar 10, 2021
3619_dirs_2021-03-10_9bdfd10c-55e3-4ff4-a137-4c6a41c727a3.html
Remuneration Information
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Mandatory Notification of Trade - Options
Mandatory Notification of Trade - Options
Reference is made to the announcement on 22 May, 2018, in which Hexagon
Composites ASA (the "Company") announced the grant of 1,200,000 share options to
employees under its employee share option program, each at a strike price of NOK
20.85 per share. Following the spin-off of Purus and resultant distribution of a
dividend in kind amounting to 15% of that company, the strike price has been
adjusted by the fair market value of NOK 4.095 essentially to "make whole" all
2018 options holders. The new strike price is therefore NOK 16.80 per share.
Of the 1,200,000 options, 800,000 options were granted to senior executives and
managers listed as primary insiders.
The options may be exercised in part or in full within three weeks following the
official announcement of the financial results for the fourth quarter of 2020,
first quarter of 2021 and second quarter of 2021.
The following primary insiders have exercised options on 10 March 2021, the last
day of the current exercise window.
+------------+-----------+----------+----------+----------+----------+---------+
| | | |Shares | | | |
| | | |held | | | |
| | | |before | | | |
| | |Shares |shares | | | |
| | |received |received |Shares |Numbers of| |
| | |upon |upon |held after|options | |
|Primary |Options |exercise |exercise |exercise |held after|Number of|
|insider |exercised |of options|of options|of options|exercise |PSUs held|
+------------+-----------+----------+----------+----------+----------+---------+
|David | | | | | | |
|Bandele |80 000 |67 112 |88 317 |155 429 |0 |121 080 |
+------------+-----------+----------+----------+----------+----------+---------+
|George | | | | | | |
|Siedlecki |80 000 |67 112 |46 010 |113 122 |0 |121 080 |
+------------+-----------+----------+----------+----------+----------+---------+
The Company has resolved to settle the economic value of the exercised options
through transfer of shares held in treasury and has therefore initiated the
transfer of 134 224 treasury shares to the employees as settlement of the
exercised options. After the transaction, the Company will hold 1 477 153
treasury shares.
To settle their tax obligation resulting from the option exercise, the following
individuals have sold some of their shares:
+----------------+---------------------+----------------+----------------------+
| | |Share price sold|Total shares held |
|Primary insider |Number of shares sold| |after the sale |
+----------------+---------------------+----------------+----------------------+
|David Bandele |40 000 |50.9555 |115 429 |
+----------------+---------------------+----------------+----------------------+
|George Siedlecki|40 000 |50.9555 |73 122 |
+----------------+---------------------+----------------+----------------------+
For more information:
Hiva Ghiri, VP Investor Relations, Hexagon Composites
Telephone: +47 958 66 790 | [email protected]
About Hexagon Composites
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our
solutions enable storage, transportation and conversion to clean energy in a
wide range of mobility, industrial and consumer applications.
This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act