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Correction: Hexagon Composites ASA: Mandatory notification of trade - provisional award of PSUs

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Hexagon Composites ASA
·2-min read
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The Board of Directors of Hexagon Composites ASA ("Hexagon Composites" or the "Company") has resolved to provisionally award up to 1 734 990 Performance Share Units ("PSUs") to executives.

The PSU allocation is in accordance with the Board of Director's compensation policy for the senior executive management. This policy is described in "Declaration to the Annual General Meeting of Hexagon Composites ASA concerning determination of Salary and other remuneration to the CEO and other Management", which was presented for shareholder approval at the Annual General Meeting on 28 April 2021 (the "AGM"). The PSUs are non-transferable and will vest on 28 February 2024 subject to satisfaction of the applicable vesting conditions.

The actual number of PSUs to be allocated will depend on 2021 and 2022 financial performance and attain minimum zero and maximum 1 734 990. Each vested PSU will give the holder the right to receive one share in the Company at an exercise price corresponding to the par value of the shares being NOK 0.10.

The total number of outstanding options, RSUs and PSUs are now 1 636 368, 219 994 and 6 770 206 respectively. Of the maximum 1 734 990 provisionally awarded PSUs, maximum 334 979 PSUs have provisionally been awarded to primary insiders as listed below:

Primary Insider

Title

Max potential PSU award(1)

Min. award

Holding instruments (options and PSUs)

Holding shares

Jon Erik Engeset(2)

President & CEO

51 675

0

351 709

263 554

David Bandele

CFO

34 450

0

155 530

115 429

Seung Baik

President Hexagon Agility

51 675

0

233 296

0

Andrew Griffiths

EVP, CFO Hexagon Agility

34 450

0

155 530

0

Jack Schimenti

President Digital Wave

34 450

0

235 530

139 639

George Siedlecki

Senior Vice President Finance North America

34 450

0

155 530

113 122

Karen Romer

SVP Communications

25 837

0

78 941

1 800

Heiko Chudzick

EVP Operations

34 450

0

155 530

80 000

Skjalg S. Stavheim

President Hexagon Ragasco

34 450

0

155 530

136 406

(1) equals total holding of PSU rights. (2) The shares are held by Dionysos AS, a company 100% controlled by Jon Erik Engeset

For more information:

David Bandele, CFO, Hexagon Composites ASA

Telephone: +47 920 91 483 | david.bandele@hexagongroup.com

Hiva Ghiri, VP Investor Relations, Hexagon Composites ASA

Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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