NORBIT's Share Incentive Program Empowers Employees with Ownership

NORBIT's Employee Share Incentive Program

Trondheim: Recently, NORBIT ASA introduced a forward-thinking approach to employee engagement by launching a share incentive program. This initiative aims to strengthen the bond between the company and its personnel, encouraging them to take part in the growth journey of NORBIT.

Details of the Share Matching Program

Under this attractive share matching program, all eligible employees were offered a unique opportunity: the ability to acquire shares at market price. Employees who participated in this initiative could expect to receive compensation in the form of new shares corresponding to their investment after a period of 24 months, contingent on meeting certain criteria.

Awarding of Shares

As a result of this program, NORBIT's Board of Directors has decided to allocate a total of 35,075 shares to employees who participated in the share matching initiative during the year. It’s noteworthy that these shares will be distributed as existing shares currently possessed by NORBIT, meaning no new shares will be issued in this transaction. This decision underscores the company's commitment to integrating employee ownership into its corporate culture.

Primary Insider Shareholdings

As the program progresses, primary insiders within NORBIT have updated their shareholding statements. The following represents their recent shareholdings:

• Peter Eriksen, Business Unit Director Oceans: 870,245 shares
• Julie Dahl Benum, Director of Strategy and ESG: 13,077 shares
• Sture Ingdal, Finance Director: 8,490 shares
• Arild Søraunet, Group Chief Technical Officer: 712,011 shares
• Asbjørn Dahl, Commercial Director Connectivity & PIR: 14,997 shares
• Astrid Stevik, Group Chief Operating Officer: 3,097 shares

This transparency not only complies with regulations but also illustrates the vested interests of key leaders within the company, promoting trust among all stakeholders.

About NORBIT ASA

NORBIT ASA stands as a global innovator, specializing in tailored technology solutions that address specific applications. Committed to sustainability and innovation, the company operates through three distinct segments: Oceans, Connectivity, and Product Innovation & Realization. The Oceans segment specifically caters to the maritime sector, providing valuable technological solutions. The Connectivity aspect focuses on offering wireless technologies for identification, monitoring, and tracking purposes. Lastly, the Product Innovation & Realization segment encompasses research and development services, proprietary products, and custom manufacturing to meet the needs of critical customers.

Headquartered in Trondheim, NORBIT boasts a workforce of approximately 600 employees, facilitating its robust sales and distribution operations across Europe and North America.

Contact Information

For further inquiries regarding the incentive program or company details, feel free to reach out to:

Per Jørgen Weisethaunet, CEO, +47 959 62 915
Per Kristian Reppe, CFO, +47 900 33 203

Frequently Asked Questions

What is the purpose of NORBIT's share incentive program?

The program aims to engage employees by allowing them to acquire shares and benefit from the company's growth and success.

How many shares are distributed under the share matching program?

A total of 35,075 shares will be awarded to eligible employees who become part of the program.

Will new shares be issued for this program?

No new shares will be issued; instead, existing treasury shares will be allocated to participants.

Who are the primary insiders, and what shares do they hold?

The primary insiders include senior management, and their holdings can provide insight into their commitment to the company.

How does NORBIT contribute to sustainability?

NORBIT focuses on creating tailored technology solutions that promote sustainability across its various business segments.

About The Author

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