Grant of share options to primary insiders
Reference is made to the stock exchange announcement on 28 November 2024
regarding the implementation of a new stock option program in Norsk Renewables
AS (the "Company") and the Board. On 19.12.2024, primary insiders in the Company
were granted a total of 9,400,000 share options in the Company. The share
options were granted as follows:
o Torbjørn Elliot Kirkeby-Garstad, CEO3,100,000 share options
o Peter Laszlo Keresztes, CFO:750,000 share options
o Hanne Stensland, General Counsel: 825,000 share options
o Mark Seger, COO:825,000share options
o Rafael Cola, EVP Commercial:1,000,000 share options
o Sandra Rise Holstad, EVP People and Culture:1,000,000 share options
o Ingrid Sara G. Amundsgård, EVP Sustainability, HSE,Communications & Investor
Relations:1,000,000 share options
o Pål Selboe Valseth, Director of the board: 300,000 share options
o Kristin Skofteland, Board member: 300,000 share options
o Kari Mercedes Campos Johansen De Fremme, Board member:300,000 share options
Each option grants the holder the right to purchase one share in Norsk
Renewables. The strike price for the options is set at NOK 0.30, reflecting the
valuation of the last Private Placement.The level of stock options is well
within the 20% mandate issued to the board of directors by the general meeting.
The new stock option program replaces all historical stock options.
The vesting of the stock options requires successful achievement of key
milestones.
Vested options may be exercised up until four years after the vesting date.
Options not exercised after four years will automatically lapse.
Please see attached primary insider notifications forms.
This information is disclosed in compliance with the requirements of Article 19
of the Market Abuse Regulation (EU) 596/2014 and Section 5-12 of the Norwegian
Securities Trading Act.
Contact:
Ingrid Sara Grimstad Amundsgård
EVP Sustainability, HSE, Communications, and Investor Relations
Email: ingrid.sara@norskrenewables.com