OSLO, NORWAY - 16 June 2022 - The Board of Directors of Zwipe AS ("Zwipe" or the "Company”) has resolved to grant in total 660,000 share options to members of the management team under the Company's share incentive scheme. The option grant is in accordance with the mandate given at Zwipe’s Annual General Meeting on 23 May 2022 to the Board of Directors (“the Board”) to issue new options to the company's employees or Board members under the company's existing long-term incentive program (the “Program”). Each option gives the option holder the right to acquire one share in the Company at an exercise price of NOK 17.96, which is equal to the volume weighted average share price for the 10 last trading days through 10 June 2022 plus 10%. The exercise price was established in accordance with Program principles. The options will vest over a period of three years from grant with one-sixth vesting every six months until 31 December 2024. The options will expire on 1 July 2026.
The following primary insiders were granted options:
- Robert Puskaric (CEO), was granted 450,000 options, following which he holds in total 450,000 options and zero shares in the Company
- Bishwajit Choudhary (CRO), was granted 70,000 options, following which he holds in total 220,000 options and 25,500 shares in the Company
- Eric Mercer (COO), was granted 70,000 options, following which he holds in total 220,000 options and 5,500 shares in the Compan
- Dr. Robert Mueller (CTO), was granted 70,000 options, following which he holds in total 220,000 options and 48,572 shares in the Company
Until the AGM in 2023, the Board is authorized to issue up to 2,626,168 options, of which a total of 2,084,498 options have now been issued. Primary insider notifications pursuant to article 19 of the market abuse regulation are attached to this release.