Scatec ASA Implements New Share-Based Incentive Scheme
Oslo: In alignment with the strategic objectives set during the Annual General Meeting of Scatec ASA, the Board of Directors has decided to continue its share-based incentive program for its leading employees. This initiative mirrors the principles established in previous years and seeks to reward the company's top talent.
Details of the Share Options Granted
Recently, Scatec ASA announced the granting of 1,516,378 share options to its leading employees, including several primary insiders. This strategic allocation aims to enhance motivation and align employees' interests with those of shareholders. The allocation details are as follows:
- Terje Pilskog, CEO: 63,250 options
- Hans Jakob Hegge, CFO: 56,574 options
- Mohamed Amer, EVP Green Hydrogen & Egypt: 37,451 options
- Eliseo Ana, EVP Asia: 44,192 options
- Alberto Gambacorta, GM Sub-Saharan Africa: 19,060 options
- Roar Haugland, EVP People, Sustainability & Digitalisation: 36,733 options
- Pål Helsing, EVP Operations: 44,451 options
- Ann-Mari Lillejord, EVP Latin America & Europe: 37,880 options
- Siobhan Minnaar, EVP General Counsel: 34,358 options
- Karianne Kristiansen, SVP People & Organisation: 17,626 options
- Andreas Austrell, VP Investor Relations: 14,955 options
Understanding the Options and Their Duration
Each share option awarded provides the right to subscribe for and be allotted one share in Scatec ASA. The strike price has been determined at NOK 78.66 per share, calculated based on the volume-weighted average share price over the last ten trading days preceding the grant date. It is important to note that these options will expire if not exercised by January 1, 2030.
Vesting Schedule for Options
The current grant follows a structured vesting schedule, divided into three tranches. Each tranche represents one-third of the total options granted and vests annually over a span of three years. Notably, the first tranche is set to vest on January 1, 2026. This phased approach not only enhances engagement but also underscores the company’s long-term vision.
Scatec ASA’s Commitment to Sustainability
As a front-runner in renewable energy solutions, Scatec ASA remains devoted to delivering reliable and affordable clean energy, particularly in emerging markets. The company is characterized by its proactive stance in developing, constructing, owning, and operating renewable energy facilities. Currently, Scatec operates and has under construction a total of 5 GW across four continents.
Vision and Values
The driving force behind Scatec’s operations is its passionate team, dedicated to a unified vision of 'Improving our Future.' This commitment reflects the company’s ethos and guides its endeavors in the renewable energy sector. Scatec ASA is listed on the Oslo Stock Exchange under the ticker symbol ‘SCATC’.
Contact Information
For additional details regarding the share-based incentive program or other inquiries, interested parties are encouraged to reach out to Andreas Austrell, VP of Investor Relations, at +47 974 38 686 or by email at andreas.austrell@scatec.com.
Frequently Asked Questions
What is the purpose of the share-based incentive program?
The program is designed to align the interests of key employees with those of shareholders and motivate them towards the company's goals.
Who benefits from the share options?
Primary insiders and leading employees of Scatec ASA received share options as part of this incentive program.
What is the strike price for the options granted?
The strike price for the granted options is set at NOK 78.66 per share.
How long do the share options last?
The options will lapse if not exercised by January 1, 2030.
What distinguishes Scatec ASA in the renewable energy market?
Scatec ASA is recognized for its commitment to renewable energy solutions, operating 5 GW of projects across four continents and fostering sustainable energy access in emerging markets.
