Oslo, 21 June 2019 – In accordance with the authorisation granted by the Annual General Meeting 29 May 2019, the Board of Directors of PCI Biotech Holding ASA has awarded a total of 320,000 share options to key employees. Each share option gives the right to subscribe for or acquire one share per option (after PCI Biotech Holding ASA’s choice), at a strike price of NOK 25.78, equal to the volume weighted average share price (VWAP) for the last 5 days of trade prior to the grant date.
The share options can be exercised with 1/3 of the options after one year, further 1/3 after two years and the last third after three years. To ensure long term ownership by executive management, shares shall be held for at least three years after exercise, except shares to be sold immediately to cover transaction costs and tax under a so called cash less exercise. The share options are subject to other customary terms and conditions for employee incentive programs and the share options are lapsing in Q3 2024.
Of the 320,000 share options, the following share options were allotted to primary insiders:
60,000 share options were allotted to Per Walday, CEO. After the allotment, Per Walday holds a total portfolio of 164,000 unexercised share options and 68,300 shares.
40,000 share options were allotted to Anders Høgset, CSO. After the allotment, Anders Høgset holds a total portfolio of 106,000 unexercised share options and 63,300 shares.
40,000 share options were allotted to Ronny Skuggedal, CFO. After the allotment, Ronny Skuggedal holds a total portfolio of 156,000 unexercised share options and 28,300 shares.
40,000 share options were allotted to Kristin Eivindvik, CDO. After the allotment, Kristin Eivindvik holds a total portfolio of 73,500 unexercised share options and 18,800 shares.
The current authorisation, as of 29 may 2019, allows for a total of 2,790,000 share options, of which 805,500 now have been granted by the Board of Directors.
For more information, please contact:
Per Walday, CEO, email@example.com, Mobile: +47 917 93 429