The Board of Directors of SpareBank 1 Sør-Norge has decided to continue the
share savings program for 2025, this time with two subscription periods: either
11 months (February to December 2025) or 6 months (July to December 2025). The
purpose of the program is to motivate employees to become co-owners of the bank
while increasing interest in the bank's strategy and performance.
Employees are invited to save a fixed amount each month to purchase shares in
the bank. The subscription period was from January 6 to January 17, with
registration for primary insiders taking place on January 17, 2025
Employees enrolled in the savings program can choose to subscribe for shares
corresponding to a total of NOK 5,500, NOK 11,000, NOK 22,000, NOK 33,000, NOK
44,000, or NOK 55,000 for the period from February to December 2025.
Alternatively, they can choose NOK 3,000, NOK 6,000, NOK 12,000, NOK 18,000, NOK
24,000, or NOK 30,000 for the period from July to December 2025.
The savings amount selected by each employee for 2025 will be distributed evenly
over 11 or 6 months and deducted from their monthly salary. SpareBank 1
Sør-Norge will purchase shares on behalf of participating employees. The bank
will offer employees a 30 percent discount on the average purchase price.
Employees will be subject to a two-year holding period for the shares.
SpareBank 1 Sør-Norge aims to purchase shares in the market quarterly, on the
day(s) following the release of results for the 1st, 2nd, and 3rd quarters of
2025, as well as in mid-December 2025. The purchase price and the number of
shares acquired by the bank will be reported in accordance with applicable
regulations.
The first two buybacks are based on the authorisation granted to the Board of
Directors of SpareBank 1 Sør-Norge at the General Meeting of 18 April 2024. The
Board of Directors will ask the General Meeting for new authorisation for share
buybacks at the Annual General Meeting of 24 April 2025.
76 percent of the employees have subscribed to the share savings program for
2025.
In total, SpareBank 1 Sør-Norge will need to buy back shares approximately 85
million NOK in 2025.
According to the authorisation granted by the General Meeting, the lowest price
that can be paid for a share is NOK 25 and the highest price is NOK 250.
SpareBank 1 Sør-Norge has authorised SpareBank 1 Markets to carry out the
buybacks.
See the enclosed summary of the primary insiders at SpareBank 1 Sør-Norge-Bank
who have registered for the 2025 share savings program. The amounts stated are
the total amounts for 2025 for which the individual has subscribed. The number
of shares allocated to individual primary insiders under the savings program
will be announced at the times of resale of the shares to the employees.
Contact person
IR Coordinator Mona Storbrua phone +47 916 39 833
This information is disclosed in compliance with section 5-12 of the Securities
Trading Act.