Oslo, Norway, 14 February 2025: On 13 February 2025 Pexip Holding ASA (“Pexip” or “Company”) closed its regular RSU and share option window for employees (“Participants”).
RSUs: In accordance with the vesting plan for the Company’s RSU program, some of the RSUs have been exercisable into shares. Participants exercised a total of 392,161 RSUs, and 1,706,620 RSUs remain in the program.
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Share options: 3,291,445 share options were exercised at an average strike price of 17.28 NOK. The gains have been calculated based on the weighted average share price on 13 February 2025, 44.70 NOK per share, and Participants have been given the option to receive the net gains in shares rather than pay the strike price amount upfront.
For Primary insiders, the Company has offered to settle 48% of the gains in cash in order to facilitate deduction of payroll taxes. This has reduced the number of potentially delivered shares with 354,486 shares following the exercise, with a negative cash flow impact of NOK 15.85 million, and an estimated negative P&L impact for Q1 2025 of approx. NOK 12.8 million due to the difference between the initial fair value of the grant and the realized gain of the cash settled share options.
In total, 3,291,445 share options has been exercised, 1,632,195 shares will be delivered, 354,486 shares will be settled in cash, and the Company has received NOK 852,421 in cash in strike price payments from those opting to pay the strike price and receive the full number of shares. A total of 1,758,680 share options remain under the option program, which vest over the next two years.
Following the exercise, 2,024,356 shares will be transferred from the Company’s holdings. The shares will be delivered to the Participants as soon as practically possible. After the exercise, Pexip Holding ASA will hold 564,373 own shares.
The following primary insiders exercised share options:
CEO, Trond K. Johannessen exercised 270,000 share options at an average strike of NOK 16.18 per share. He will receive 89,578 shares and 82,688 shares will be settled in cash at NOK 44.70 per share. After the transaction he will hold 249,578 shares and have 400,000 rights to shares in the Company.
CFO, Øystein Dahl Hem exercised 252,500 share options at an average strike of NOK 19.24 per share. He will receive 74,781 shares following the exercise and 69,029 shares will be settled in cash at NOK 44.70 per share. After the transaction he will hold 236,249 shares and have 160,000 rights to shares in the Company.
CRO, Åsmund Fodstad exercised 213,333 share options at an average strike of NOK 16.80 per share. He will receive 133,165 shares following the exercise and 0 shares will be settled in cash. After the transaction he will hold 690,440 shares himself and through Metrix Invest AS and have 106,667 rights to shares in the Company.
CTO, Ian Mortimer, exercised 183,333 share options at an average strike of NOK 17.70 per share and 4,040 RSUs. He will receive 59,679 shares following the exercise and 55,090 shares will be settled in cash at NOK 44.70 per share. After the transaction he will hold 114,346 shares and have 106,667 rights to shares in the Company.
CMO, Patricia Auseth, exercised 160,000 share options at an average strike of NOK 16.80 per share. She will receive 51,933 shares following the exercise and 47,940 shares will be settled in cash at NOK 44.70 per share. After the transaction she will hold 84,067 shares and have 95,000 rights to shares in the Company.
CPO, Ingrid Woodhouse, exercised 180,625 share options at an average strike of NOK 18.41 per share. She will receive 55,244 shares following the exercise and 50,995 shares will be settled in cash at NOK 44.70 per share. After the transaction she will hold 123,424 shares and have 80,000 rights to shares in the Company.
COO, Helge Hoff Hansen, exercised 160,000 share options at an average strike of NOK 16.80 per share and 1,675 RSUs. He will receive 52,804 shares following the exercise and 48,744 shares will be settled in cash at NOK 44.70 per share. After the transaction he will hold 65,504 shares and have 90,000 rights to shares in the Company.
This information is subject to disclosure requirements pursuant to the EU Market Abuse Regulation (MAR) and Section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Øystein Hem, CFO, Pexip Holding ASA, on 14 February 2025.
For further information, please contact: Øystein Hem, IR@pexip.com, +47 992 34 596.
About Pexip | pexip.com Pexip is a video technology company that offers multi-platform software for various purposes such as business meetings, secure government communication, doctor’s appointments, and court proceedings. It is an excellent tool for organizations that want seamless, secure, and scalable meetings that enhance the video experience. Pexip (PEXIP) is listed on the Oslo Stock Exchange. Visit us at www.pexip.com or on LinkedIn (http://www.linkedin.com/company/pexip/)
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