On April 20th, 2023 The Annual General Meeting of Nordic Semiconductor ASA approved the issue Restricted Stock Units (RSUs) and Performance Shares of an aggregate nominal value of up to 1% of the company’s outstanding share capital.
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In total in this release, 1,002,323 RSUs and Performance Shares have been granted, equivalent to 0.52% of the company’s outstanding share capital.
As basis for the calculation of RSUs to employees (excluding Executive Management team), a weighted average share price the five trading days after the Annual General Meeting of NOK 112.7 has been used. As basis for the calculation of RSUs and Performance Shares to the Executive management team, the weighted average share price on July 11, 2023 of NOK 129.9 has been used.
All Employee Plan
Today, on July 12th, 2023 the company has granted 916,527 RSUs to employees under the all-employee program. For employees, the RSUs will vest after two years and the shares will be delivered to the employee at the vesting date against payment of the par value of the share (subject to the employee’s continued employment with the Company). The shares may be newly issued shares or existing treasury shares.
Primary insiders in Nordic Semiconductor have received the following RSUs, according to the terms described above:
Employee elected Board member Jon Helge Nistad has been granted 712 RSUs. Following this transaction, he holds 749 shares and 1,130 RSUs in the Company.
Employee elected Board member Anja Dekens has been granted 491 RSUs. Following this transaction, she holds 433 shares and 766 RSUs in the Company.
Employee elected Board member Morten Dammen has been granted 1,032 RSUs. Following this transaction, he holds 1,953 shares and 2,140 RSUs in the Company.
Employee elected Board member Gro Fykse has been granted 1,018 RSUs. Following this transaction, she holds 1,146 shares and 1,616 RSUs in the Company.
Executive Management Plan
With reference to the Annual general meeting held on April 20th, 2023, members of the Executive Management team have today been granted a total of 42,898 RSUs and 42,898 performance shares in the company. The RSUs will vest after three years and the shares will be delivered to the employee at the vesting date against payment of the par value of the share (subject to the employee’s continued employment with the Company). The shares may be newly issued shares or existing treasury shares. The performance shares are issued conditional upon the achievement of a certain set of objectives. The performance shares vest and will be delivered at par value upon the completion of the performance period, which is three years. If the executive achieves at least 80% of the set performance targets, 50% of the shares will be granted, whilst on 120% achievement of targets a maximum two times the shares will be granted. As such, if maximum performance is achieved on the performance shares, a total of 85,796 shares will be delivered to the executive management team. If less than 80% performance is achieved, zero shares will be delivered.
Details below are based on 100% performance achievement. For further details on the program, please refer to the Guidelines for Executive Compensation that was approved by the Annual General Meeting.
Svenn-Tore Larsen, CEO, received 9,184 RSUs and 9,184 performance shares. Following the grant, Svenn-Tore has 1,947,142 shares, 26,649 RSUs and 21,929 performance shares in the company.
Pål Elstad, CFO, received 4,520 RSUs and 4,520 performance shares. Following the grant, Pål has 49,417 shares, 10,769 RSUs and 10,769 performance shares in the company.
Svein-Egil Nielsen, CTO, received 5,110 RSUs and 5,110 performance shares. Following the grant, Svein-Egil has 42,285 shares, 12,174 RSUs and 12,174 performance shares in the company.
Geir Langeland, EVP Sales and Marketing, received 4,783 RSUs and 4,783 performance shares. Following the grant, Geir has 219,653 shares, 14,301 RSUs and 11,351 performance shares in the company.
Ole-Fredrik Morken, EVP Supply Chain, received 3,439 RSUs and 3,439 performance shares. Following the grant, Ole-Fredrik has 205,345 shares, 8,193 RSUs and 8,193 performance shares in the company.
Ola Boström, SVP Quality & Sustainability, received 2,946 RSUs and 2,946 performance shares in the company. Following the grant, Ola has 2,427 shares, 5,827 RSUs and 2,946 performance shares in the company.
Linda Pettersson, SVP Legal, received 2,823 RSUs and 2,823 performance shares. Following the grant, Linda has 3,421 RSUs and 2,823 performance shares in the company.
Kjetil Holstad, EVP Product Management, received 3,369 RSUs and 3,369 performance shares. Following the grant, Kjetil has 16,401 shares, 7,905 RSUs and 7,905 performance shares in the company.
Ståle Ytterdal, SVP Investor Relations, received 2,955 RSUs and 2,955 performance shares. Following the grant, Ståle has 141,632 shares, 7,108 RSUs and 7,108 performance shares in the company.
Katarina Finneng, EVP People & Communication, received 3,769 RSUs and 3,769 performance shares. Following the grant, Katarina has 4,337 shares, 8,955 RSUs and 8,955 performance shares in the company.
For further information, please contact: Pål Elstad, CFO pal.elstad@nordicsemi.no +47 99 166 293
This information is subject to the disclosure requirements in Regulation EU 596/2014 (MAR) article 19 number 3 and the Norwegian Securities Trading Act § 5 -12.
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