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Mowi ASA (OSE: MOWI): Share option scheme for senior executives and allocation of options 2022

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Mowi ASA
Mowi ASA

At Mowi ASA’s (the “Company”) annual general meeting (“AGM”) on 13 June 2022 the Board of Directors was authorised to grant options under the Share Option Scheme to Senior Executives, as described in Mowi’s updated guidelines for remuneration of leading personnel (the “Guidelines”). On 16 June 2022 the Board of Directors granted 1.57 million options with a strike price of NOK 252.0070, corresponding to 107.5% of the volume weighted average share price on the Oslo Stock Exchange at the date of the AGM, to a total of 31 individuals.

In accordance with the Guidelines, the options have a term of 4 years but will become exercisable immediately if a mandatory bid is made for all of the shares in Mowi, if a voluntary offer is followed-up with a forced transfer of shares in accordance with the Norwegian Securities Trading Act or if Mowi is the non-surviving entity in a merger with another company.

The exercise of 50% of the options awarded to an option holder is conditional on achievement of performance criteria, measured in the development of the share price of the Company's shares compared with those of peers ("Performance-based Options"). The exercise of the remaining 50% of the options awarded to an option holder is not conditional on achievement of such performance criteria ("Ordinary Options").

The number of shares and the strike price will be adjusted for dividends and changes in the equity capital during the term of the option according to the Oslo Stock Exchange's derivative rules and provisions in the option agreements. Total profit through the exercise of Performance-based Options in a year is capped at one year’s salary for the option holder, and total profit through the exercise of Ordinary Options in a year is capped at one year’s salary for the option holder. If the profit exceeds this limit, the number of shares to be issued will be reduced accordingly.

The following primary insiders in the Company have been allocated options according to the above, please see attached allocation details. The primary insiders have the following number of shares and options, adjusted for dividends paid, in the Company.

 

Total number of

Options granted

Total options

Name

shares owned

in 2022

outstanding

Ivan Vindheim
(CEO)

7,557

200,000

760,577

Kristian Ellingsen
(CFO)

897

100,000

259,841

Øyvind Oaland
(COO Farming Norway)

5,285

100,000

314,892

Ben Hadfield
(COO Farming Scotland, Ireland, Faroes and Canada East)

7,767

100,000

480,044

Fernando Villarroel
(COO Farming Americas)

309

100,000

338,240

Ola Brattvoll
(COO Sales & Marketing)

10,128

100,000

480,044

Atle Kvist
(COO Feed)

440

100,000

286,625

Catarina Martins
(CTO & Chief Sustainability Officer)

2,342

25,000

103,384

Anne Lorgen Riise
(Chief HR Officer)

1,255

25,000

131,651

Kim Galtung Døsvig
(Investor Relations & Head of Treasury)

1,033

25,000

131,651

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

Attachment


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