Oslo, 1 June 2023: Reference is made to the approval by the annual general meeting of LINK Mobility Group Holding ASA (“LINK Mobility” or the “Company”) on 31 May 2023 of updated guidelines for remuneration of executive management.
Based on the above approval, the board’s decision to cancel and roll-over a total of 2,666,000 share options from the previous long-term incentive program from 2020, as amended in 2021, into a new long-term incentive program for the Company’s management and key employees (the “New 2022 LTI Program”) and the issuance of additional 12,550,000 share options under the New 2022 LTI Program (resulting in total 15,216,000 share options currently being granted under the New 2022 LTI Program) will become effective as from 7 December 2022.
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The New 2022 LTI Program replaces the previous program from 2020, as amended in 2021, except for 1,470,000 options that will remain under the previous programs.
The main terms and conditions of the New 2022 LTI Program are as follows:
Total number of options that can be granted under the New 2022 LTI program is 16,000,000 (as will come in addition to the 1,470,000 outstanding and not cancelled options granted under the 2020 and 2021 programs).
No performance conditions apply to the New 2022 LTI program, but vesting of options, and in most circumstances exercise of options, is subject to the option holder remaining an employee of the LINK Mobility group.
The options under the New 2022 LTI Program will vest during a 3-year period with 1/3 each year, and all options must be exercised within 12 months after the last vesting date.
The exercise price for the first 1/3 of the options to be vested shall be based on the market value of the Company’s share at the grant date (calculated based on the 5-day VWAP prior to the grant date) with the second 1/3 of the options to be based on the market value at the grant date with an increase of 12% and with the third 1/3 of the options to be based on the second vesting exercise price with an increase of 12%, implying a strike price for the share options under the New 2022 LTI Program of NOK 8.11, NOK 9.08 and NOK 10.17, correspondingly.
The options that will remain under the previous programs have exercises prices of NOK 47.00 and NOK 20.89 respectively. In addition, certain of the outstanding options from the 2020 and 2021 programs are held by former employees and have an exercise period of up 12 months from their termination.
Further to the above, the following primary insiders of the Company have been granted share options under the New 2022 LTI Program, including having cancelled all their previous share options granted under the previous programs:
Thomas Berge, CEO of the Company, has been granted 2,000,000 share options under the New 2022 LTI Program.
Morten Løken Edvardsen, CFO of the Company, has been granted 1,250,000 share options under the New 2022 LTI Program.
The share options are granted with the following vesting schedule and exercise prices:
1/3 of the options will vest on 7 December 2023 and have an exercise price of NOK 8.11
1/3 of the options will vest on 7 December 2024 and have an exercise price of NOK 9.08
1/3 of the options will vest on 7 December 2025 and have an exercise price of NOK 10.17
Primary insider notification pursuant to the EU Market Abuse Regulation Article 19 is attached.
For further information, please contact
Tom Rogn, VP Investor Relations
+47 94 85 56 59
tom.rogn@linkmobility.com
About LINK Mobility
LINK is an award-winning, leading global provider of mobile messaging and communications platform as a service (CPaaS) solutions for increased engagement. The company serves enterprise, SME, and government customers. LINK offers a wide range of innovative and scalable mobile solutions, creating valuable digital convergence between businesses and customers, governments and citizens, platforms and users. LINK has 51,000 active customer accounts globally and exchanges 17 billion messages a year. LINK is listed on the Oslo Stock Exchange under the ticker LINK. For more information about LINK, please see www.linkmobility.com and follow LINK Mobility on LinkedIn
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
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