Mowi ASA (OSE: MOWI) Announces Senior Executive Share Options
Mowi ASA (OSE: MOWI) Exercises Senior Executive Share Options
Mowi ASA has announced the exercise of senior executive share options as part of its long-term remuneration policy. The company awarded 0.93 million options under its scheme to current participants, which was adjusted for dividend payments leading to a total of 1,040,643 options in circulation.
Details of Options Exercised
On a recent date, participants in Mowi's senior executive share option scheme exercised all 1,040,643 options, converting them into shares at a predetermined strike price of NOK 187.50 per share. This exercise reflects Mowi's commitment to rewarding its executives while also aligning their interests with those of shareholders.
Share Purchase to Settle Obligations
In conjunction with the options exercises, Mowi also purchased an equivalent number of its own shares at a price of NOK 189.20 per share. These purchases were conducted under the authority granted at the company's annual general meeting, which emphasizes Mowi’s strategic approach to managing its equity structure. Following these transactions, the company holds no treasury shares.
Primary Insiders’ Share Option Exercise
A significant portion of the exercised options came from Mowi’s primary insiders. The company’s top executives executed options as follows:
- Ivan Vindheim, CEO, with 145,466 options exercised.
- Kristian Ellingsen, CFO, exercised 61,543 options.
- Øyvind Oaland, COO for Farming Norway & Iceland, exercised 61,543 options.
- Ben Hadfield, COO for Farming Scotland, Ireland, Faroes and Canada East, executed 61,543 options.
- Fernando Villarroel, COO for Farming Americas, exercised 39,164 options.
- Ola Brattvoll, COO for Sales & Marketing, exercised 61,543 options.
- Atle Kvist, COO for Feed, exercised 61,543 options.
- Catarina Martins, CTO & Chief Sustainability Officer, exercised 27,974 options.
- Kim Galtung Døsvig, Investor Relations & Head of Treasury, also exercised 27,974 options.
Transfer of Rights
Additionally, on the same date, the primary insiders reported that they transferred their rights to receive shares from the options to a third party. This transfer was contingent on the price realized when the third party subsequently sells the shares, which was noted to be NOK 189.20 per share.
Updated Shareholdings of Primary Insiders
Following these transactions, here is the updated standing concerning shares and unexercised options among the top executives:
- Ivan Vindheim holds 7,903 shares with 846,197 unexercised options.
- Kristian Ellingsen has 1,243 shares and 423,098 unexercised options.
- Øyvind Oaland holds 5,631 shares with 423,098 options remaining unexercised.
- Ben Hadfield has 8,113 shares backed by 423,098 unexercised options.
- Fernando Villarroel now has 5,655 shares along with 423,098 options unexercised.
- Ola Brattvoll maintains 10,474 shares and 423,098 unexercised options.
- Atle Kvist holds 786 shares accompanied by 423,098 unexercised options.
- Catarina Martins has 2,688 shares along with 125,775 unexercised options.
- Kim Galtung Døsvig holds 1,379 shares and has 105,775 unexercised options.
This series of transactions is subject to disclosure requirements as mandated by the relevant Norwegian Securities Trading Act.
Frequently Asked Questions
What is the significance of Mowi ASA’s share options exercise?
The exercise of share options by Mowi ASA aligns the interests of senior executives with those of shareholders, encouraging performance-driven growth.
How many options were exercised in total?
A total of 1,040,643 options were exercised by the participants in Mowi’s senior executive share option scheme.
What was the strike price for the options exercised?
The strike price for the options exercised was NOK 187.50 per share.
What shares did Mowi purchase to settle its obligations?
Mowi purchased 1,040,643 own shares at NOK 189.20 each to fulfill its obligation to deliver shares to option holders.
Are there any further disclosures related to these transactions?
Yes, the transactions are disclosed under the requirements set forth in the Norwegian Securities Trading Act.
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