Scatec Solar ASA: Long term incentive programme
Oslo, 3 January 2019: In line with the terms adopted by the annual general meeting of Scatec Solar ASA in 2018, the Board of Directors continue to implement the share-based incentive programme for leading employees of the company. Yesterday, a total of 494,510 options were granted to leading employees, including the following primary insiders:
Raymond Carlsen, CEO: 52,445
Mikkel Tørud, CFO: 38,477
Torstein Berntsen, EVP Power Production & Asset Management: 31,764
Pål Helsing, EVP Solutions: 32,131
Roar Haugland, EVP Sustainable Business & HSSE: 29,887
Terje Pilskog, EVP Project Development & Project Finance: 33,495
Snorre Valdimarsson, EVP General Counsel: 30,180
Toril Haaland, EVP People & Organisation: 27,288
Each share option gives the right to subscribe for and be allotted one share in Scatec Solar ASA. The strike price of the options is set to NOK 72.03 per share based on the volume weighted average share price over the last 10 trading days preceding the grant date of 2 January 2019. The options will lapse if not exercised by 1 January 2023. The option grant is divided into three tranches whereby 1/3 vests each year over three years, with the first tranche vesting 1 January 2020. The current grant is the last of three contemplated annual grants of share options in accordance with Scatec Solar’s share-based incentive programme.
Attached is an overview of the primary insiders’ total numbers of share options.
About Scatec Solar
Scatec Solar is an integrated independent solar power producer, delivering affordable, rapidly deployable and sustainable clean energy worldwide. A long- term player, Scatec Solar develops, builds, owns, operates and maintains solar power plants and has an installation track record of more than 1 GW. The company has a total of 1.6 GW in operation and under construction in Argentina, Brazil, the Czech Republic, Egypt, Honduras, Jordan, Malaysia, Mozambique, Rwanda, South Africa and Ukraine.
With an established global presence and a significant project pipeline, the company is targeting a capacity of 3.5 GW in operation and under construction by end of 2021. Scatec Solar is headquartered in Oslo, Norway and listed on the Oslo Stock Exchange under the ticker symbol 'SSO'. To learn more, visit www.scatecsolar.com.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Overview of primary insiders share options