Top management receive options.
At Mowi’s annual general meeting on 3 June 2020 the Board of Directors was authorised to grant options under the Share Option Scheme to Senior Executives. On 25 August 2020 the Board of Directors granted 1.125 million options with a strike price of NOK 209.8076, 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 32 individuals, according to an announcement from Mowi.
The options have a term of four 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 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 the option in a year is capped at two years’ 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 and have, following this and adjustments for dividends paid, the following number of shares and options in the company: