IDEX Biometrics Issues Incentive Subscription Rights
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Introduction to IDEX Biometrics' Incentive Program
The board of directors of IDEX Biometrics ASA has approved the issuance of 1,500,000 incentive subscription rights (SRs) to the CEO of the IDEX Biometrics group. This grant aligns with the company's 2024 incentive subscription rights plan, which was finalized during the recent annual general meeting.
Details of the Incentive Subscription Rights
The exercise price for the newly granted SRs is NOK 0.93 per share. These rights are structured to vest incrementally, with 25% vesting each year over a four-year period. The SRs have an expiration date set for 16 May 2029.
Outstanding Incentive Subscription Rights
With the addition of this latest grant, IDEX Biometrics now has 28,729,855 incentive subscription rights still outstanding. This reflects the company's commitment to incentivizing its key management and aligning their interests with those of the shareholders.
Insider Information
As per regulations, IDEX Biometrics has disclosed that this transaction was made by a primary insider. The CEO, Catharina Eklof, has been awarded 1,500,000 SRs at the exercise price of NOK 0.93 per share. This move demonstrates the company’s strategy to engage its leadership while motivating them towards sustained performance.
About IDEX Biometrics ASA
IDEX Biometrics ASA (OSE: IDEX) is recognized as a global technology leader in fingerprint biometrics. The company specializes in delivering authentication solutions that cater to various sectors, including payments, access control, and digital identity management. The biometric solutions they provide are designed for convenience and security, enhancing user experiences globally.
Technological Innovation
IDEX Biometrics is distinguished by its patented and proprietary sensor technologies, integrated circuit designs, and sophisticated software. Their focus is primarily on card-based applications that facilitate payments and digital authentication. Furthermore, IDEX actively collaborates with leading card manufacturers and technological partners to deliver its solutions effectively to the market.
Company Contact Information
For additional inquiries, please reach out to Marianne Bøe, Head of Investor Relations, via email at marianne.boe@idexbiometrics.com or by phone at +47 918 00186.
Frequently Asked Questions
What are incentive subscription rights?
Incentive subscription rights are a type of stock option that allows employees to purchase shares at a predetermined price, intended to motivate and reward them.
Who received the incentive subscription rights at IDEX Biometrics?
The CEO, Catharina Eklof, is the recipient of the 1,500,000 incentive subscription rights granted by IDEX Biometrics.
What is the exercise price for the newly issued rights?
The exercise price for the incentive subscription rights is NOK 0.93 per share.
When do these rights expire?
The incentive subscription rights will expire on 16 May 2029.
How do incentive subscription rights benefit the company?
These rights help in aligning the interests of the management with the shareholders and incentivize leadership to enhance company performance.
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