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option program comprising all employees in Nel fulfilling certain criteria,
specified in the Company’s annual report (note 6), thereby increasing the
Company’s share capital by NOK 1,209,600.00. In total 137 employees in the group
exercised 6,048,000 options, where 564,000 options were exercised at the strike
price of NOK 3.14, and 5,484,000 options were exercised at the strike price of
NOK 3.24.
As stated in the general terms and conditions of the share option plan, as well
as in the participants’ award agreement, the maximum gain is NOK 5.00 per share
option, reached at share price of NOK 8.14 and NOK 8.24. If the cap is reached,
a reduced number of shares will be transferred to the participants, and the
remainder of shares issued will be added to the company’s holding of treasury
shares. Final information related to the number of shares transferred to share
option holders and the number of shares added to the company’s holding of
treasury shares will be disclosed following the finalization of the stock option
exercise process.
- Options exercised by primary insiders 28 August 2020:
Anders Søreng, CTO of Nel, has exercised 240,000 options in the Company at the
strike price of NOK 3.24
Bjørn Simonsen, VP Investor Relations and Corporate Communications of Nel, has
exercised 160,000 options in the Company at the strike price of NOK 3.14 and
240,000 options at the strike price of NOK 3.24
David Bow, SVP Business Development of Nel, has exercised 160,000 options in the
Company at the strike price of NOK 3.14 and 240,000 options at the strike price
of NOK 3.24
Jørn Rosenlund, SVP Nel Hydrogen Fueling, has exercised 240,000 options in the
Company at the strike price of NOK 3.24
Raluca Leordeanu, VP Business Development in Nel, has exercised 160,000 options
in the Company at the strike price of NOK 3.14 and 240,000 options at the strike
price of NOK 3.24
- Transfer of rights and sale of shares
On 28 August 2020, the primary insiders mentioned below transferred their rights
to receive shares resulting from the exercise of options to a third party. The
final gain for the primary insiders will equal the cap of NOK 5.00 per share
option exercised. Final sales price for the transferred rights will be reported
to the stock exchange when known.
Anders Søreng
Bjørn Simonsen
Jørn Rosenlund
Raluca Leordeanu
In a related transaction the same day, David Bow sold 88,745 shares at NOK 20.46
per share. Bjørn Simonsen sold 486,661 shares at NOK 20.68 per share.
- New holding
After exercising options, Anders Søreng holds 618,000 unexercised options in the
Company with strike prices ranging from 7.8 to 21.72 NOK. As of today, the
primary insider holds 331,899 shares in the Company.
After exercising options, Bjørn Simonsen holds 616,000 unexercised options in
the Company with strike prices ranging from 7.8 to 21.72 NOK. As of today, the
primary insider holds 1,516,138 shares in the Company.
After exercising options, David Bow holds 612,000 unexercised options in the
Company with strike prices ranging from 7.8 to 21.72 NOK. As of today, the
primary insider holds 197,596 shares in the Company. Following the finalization
of the stock option exercise process, David Bow will receive a number of shares
based on the market price obtained by the third party.
After exercising options, Jørn Rosenlund holds 634,000 unexercised options in
the Company with strike prices ranging from 7.8 to 21.72 NOK. As of today, the
primary insider holds 300,000 shares in the Company.
After exercising options, Raluca Leordeanu holds 640,000 unexercised options in
the Company with strike prices ranging from 7.8 to 21.72 NOK. As of today, the
primary insider holds 0 shares in the Company.
ENDS
For further information, please contact:
Kjell Christian Bjørnsen, CFO, Nel ASA, +47 917 02 097
About Nel ASA | www.nelhydrogen.com
Nel is a global, dedicated hydrogen company, delivering optimal solutions to
produce, store and distribute hydrogen from renewable energy. We serve
industries, energy and gas companies with leading hydrogen technology. Our roots
date back to 1927, and since then we have had a proud history of development and
continuous improvement of hydrogen technologies. Today, our solutions cover the
entire value chain: from hydrogen production technologies to hydrogen fueling
stations, enabling industries to transition to green hydrogen, and providing
fuel cell electric vehicles with the same fast fueling and long range as fossil
-fueled vehicle, without emissions.
Kilde
