Mowi ASA (OSE: MOWI): Exercise of senior executive share options/purchase of own shares - Correction

·2 min read

This release also includes disclosure details for Fernando Villarroel who is also a primary insider.

Number of options exercised

The Board of Directors of Mowi awarded 0.9 million options under its senior executive share option scheme with effect from 2017 to the current participants in the option scheme. The option scheme forms an important part of Mowi’s long-term remuneration policy for such senior executives. The number of options shall be adjusted for dividend payments and reduced if the profit through exercise of options in a year exceeds two times the fixed annual salary of the option holder. Accordingly, the number of options has been adjusted to 764,101 options to comply with these provisions.

On 22 June 2021, participants in Mowi's senior executive share option scheme exercised 764,101 options in Mowi, corresponding to 764,101 shares at a strike price of NOK 136.51 per share.

On the same date Mowi purchased 764,101 own shares at a price of NOK 233.83 per share to settle its obligation to deliver the shares. The shares were purchased in accordance with the authorisation granted at the annual general meeting on 9 June 2021. Following these transactions Mowi still holds zero treasury shares.

Options exercised by primary insiders

Ivan Vindheim exercised 76,012 options in Mowi, corresponding to
76,012 shares at a strike price of NOK 136.51 per share.

Ben Hadfield exercised 64,580 options in Mowi, corresponding to
64,580 shares at a strike price of NOK 136.51 per share.

Fernando Villarroel exercised 42,091 options in Mowi, corresponding to
42,091 shares at a strike price of NOK 136.51 per share.

Ola Brattvoll exercised 53,967 options in Mowi, corresponding to
53,967 shares at a strike price of NOK 136.51 per share.

Transfer of rights

On 22 June 2021 the primary insiders listed above transferred their rights to receive shares resulting from the exercise of their options to a third party against a consideration to be determined on the basis of the price subsequently obtained by the third party when selling the shares. The price subsequently obtained was NOK 233.83 per share. Please see attached for further details.

New holding

After exercising the options the primary insiders listed above hold the following number of shares and unexercised options in Mowi:

Name

Title

Shares

Total unexercised

options

Ivan Vindheim

CEO

7 413

344 594

Ben Hadfield

COO Farming Scotland, Ireland & Faroes

7 623

269 208

Fernando Villarroel

COO Farming Americas

165

131 446

Ola Brattvoll

COO Sales and Marketing

9 984

269 208

This information is subject to the disclosure requirements pursuant to section 4-2 and 5-12 of the Norwegian Securities Trading Act.

Attachments


Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting