On May 3, 2024, employees in Nordic Semiconductor ASA and subsidiaries of Nordic Semiconductor ASA have exercised 375,650 restricted share units (“RSUs”) in Nordic Semiconductor ASA.
Vis børsmeldingen
The vested RSUs were granted to all employees on April 28, 2021 and May 6, 2022, as part of the long-term incentive program approved by the Annual general meeting held on April 20, 2021 and April 28, 2022. The Board of Directors has authorized the use of treasury shares to settle the vested shares.
Executive Management Plan
The vested RSUs were granted to the executive management team April 28, 2021, as part of the long-term incentive program approved by the Annual general meeting held on April 20, 2021. The executive management team was also granted Performance Shares. However, as the executives achieved less than 80% of the set performance targets, no performance shares vested. The Board of Directors has authorized the use of treasury shares to settle the vested shares.
On May 3, 2024, the primary insiders mentioned below ordered for a portion of the received shares to be immediately sold by a third party in order to cover the tax liability.
Chief Financial Officer, Pål Elstad, has transferred the rights for 1,528 shares.
Interim SVP R&D, Joakim Ferm, has transferred the rights for 489 shares.
EVP Sales and Marketing, Geir Langeland, has transferred the rights for 3,070 shares.
EVP Supply Chain, Ole Fredrik Morken, has transferred the rights for 1,163 shares.
SVP Quality, Ola Boström, has transferred the rights for 1,191 shares.
EVP People & Communication, Katarina Finneng, has transferred the rights for 1,262 shares.
EVP Strategy and Product Management, Kjetil Holstad, has transferred the rights for 1,078 shares.
SVP Investor Relations, Ståle Ytterdal, has transferred the rights for 1,033 shares.
Employee representative, Jon Helge Nistad, has transferred the rights for 209 shares.
Employee representative, Morten Dammen, has transferred the rights for 554 shares.
Employee representative, Anja Dekens, has transferred the rights for 138 shares.
On May 3, 2024, employees excluding primary insiders mentioned above, ordered for 191,051 shares to be immediately sold by a third party. In total 375,650 treasury shares will be used, of which 202,766 shares will be sold and 172,884 shares will be transferred to employees.
The sales amount will be finally determined on the basis of the price subsequently obtained by the third party in the market and will be announced in a separate stock exchange notice when known.
All expenses related to the vested RSUs have already been recognized in this and previous quarters, and the settlement has no net impact on the operating expenses of the company in the future quarters.
Subsequent to the transaction, Nordic Semiconductor holds 458,024 treasury shares in addition to 69,520 shares set aside for shareholders of Mobile Semiconductor Inc.
There will be no share capital increase to cover the exercise of RSUs.
An overview of RSUs exercised by primary insiders is described below:
Chief Financial Officer, Pål Elstad, has exercised 3,056 RSUs. Following this transaction, he holds 50,945 shares, 12,543 RSUs and 12,543 performance shares in the Company.
Interim SVP R&D, Joakim Ferm, has exercised 978 RSUs. Following this transaction, he holds 1,801 shares, 6,195 RSUs and 3,148 performance shares in the Company.
EVP Sales and Marketing, Geir Langeland, has exercised 6,139 RSUs. Following this transaction, he holds 222,722 shares, 13,274 RSUs and 13,274 performance shares in the Company.
EVP Supply Chain, Ole Fredrik Morken, has exercised 2,325 RSUs. Following this transaction, he holds 206,507 shares, 10,497 RSUs and 10,497 performance shares in the Company.
SVP Quality, Ola Boström, has exercised 2,381 RSUs. Following this transaction, he holds 5,927 shares, 6,594 RSUs and 6,094 performance shares in the Company.
EVP People & Communication, Katarina Finneng, has exercised 2,524 RSUs. Following this transaction, she holds 5,599 shares, 10,459 RSUs and 10,459 performance shares in the Company.
EVP Strategy and Product Management, Kjetil Holstad, has exercised 2,156 RSUs. Following this transaction, he holds 17,479 shares, 11,341 RSUs and 11,341 performance shares in the Company.
SVP Investor Relations, Ståle Ytterdal, has exercised 2,066 RSUs. Following this transaction, he holds 142,665 shares, 8,200 RSUs and 8,200 performance shares in the Company.
Employee Representative, Jon Helge Nistad, has exercised 418 RSUs. Following this transaction, he holds 958 shares, 1,623 RSUs and 250 performance shares in the Company.
Employee Representative, Morten Dammen has exercised 1,108 RSUs. Following this transaction, he holds 2,507 shares, 2,239 RSUs and 250 performance shares in the Company.
Employee Representative, Anja Dekens, has exercised 275 RSUs. Following this transaction, she holds 570 shares, 1,697 RSUs and 750 performance shares in the Company.
For further information, contact: Ståle Ytterdal, SVP IR +47 930 37 430.
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.
This stock exchange announcement was published by Kine-Elena Reigstad, VP International Finance, on May 6, 2024 at 08.00 CEST.
Kilde
