Mowi ASA (OSE: MOWI) Exercises Senior Executive Share Options
Mowi ASA has announced the recent exercise of senior executive share options as part of its long-term remuneration policy. The company granted 0.93 million options to current participants, which were adjusted for dividend payments, resulting in a total of 1,040,643 options now in circulation.
Details of Options Exercised
On a recent date, all 1,040,643 options in Mowi's senior executive share option scheme were exercised by participants. These options were converted into shares at a predetermined strike price of NOK 187.50 each. This exercise demonstrates Mowi's commitment to rewarding its executives while aligning their interests with those of the shareholders.
Share Purchase to Settle Obligations
In line with the options exercised, Mowi also bought an equivalent number of its own shares at a price of NOK 189.20 per share. These purchases were made under the authority granted at the company’s annual general meeting, showcasing Mowi’s strategic approach to managing its equity structure. After these transactions, the company holds no treasury shares.
Primary Insiders’ Share Option Exercise
A significant portion of the exercised options involved Mowi’s primary insiders. The company’s top executives exercised options as follows:
- Ivan Vindheim, CEO, exercised 145,466 options.
- 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, exercised 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
On the same date, primary insiders reported transferring their rights to receive shares from the options to a third party. This transfer was dependent on the price realized when the third party later sells the shares, which was noted to be NOK 189.20 per share.
Updated Shareholdings of Primary Insiders
Following these transactions, here’s the updated status regarding shares and unexercised options among the top executives:
- Ivan Vindheim holds 7,903 shares and has 846,197 unexercised options.
- Kristian Ellingsen possesses 1,243 shares and 423,098 unexercised options.
- Øyvind Oaland has 5,631 shares along with 423,098 unexercised options.
- Ben Hadfield holds 8,113 shares backed by 423,098 unexercised options.
- Fernando Villarroel now has 5,655 shares and 423,098 options remaining unexercised.
- Ola Brattvoll maintains 10,474 shares and 423,098 unexercised options.
- Atle Kvist holds 786 shares and has 423,098 unexercised options.
- Catarina Martins possesses 2,688 shares along with 125,775 unexercised options.
- Kim Galtung Døsvig has 1,379 shares and 105,775 unexercised options.
This series of transactions adheres to the disclosure requirements 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 serves to align the interests of senior executives with those of shareholders, promoting performance-driven growth.
How many options were exercised in total?
In total, 1,040,643 options were exercised by 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 of its own shares at NOK 189.20 each to meet its obligation to deliver shares to option holders.
Are there any further disclosures related to these transactions?
Yes, these transactions are disclosed in accordance with the requirements set forth in the Norwegian Securities Trading Act.
