MANDATORY NOTIFICATION OF TRADE - OPTIONS
November 18, 2021 - Stock Exchange Release
Reference is made to the announcement on 22 May 2018, in which Hexagon Composites ASA (the "Company") announced the grant of 1,200,000 share options to employees under its employee share option program, each at a strike price of NOK 20.85 per share. Following the distribution of 15% of the shares in Hexagon Purus ASA as dividend in kind on 14 December 2020, the strike price has been adjusted by NOK 4.095 to "make whole" the 2018 options holders. The adjusted strike price is NOK 16.755 per share.
Of the 1,200,000 options, 800,000 options were granted to senior executives and managers listed as primary insiders
The following primary insider has exercised options on 18 November 2021, following the closing of insider positions in the Company. The Company settled the exercised options with treasury shares. After the transaction, the Company holds 967,955 shares in treasury. The table below shows the movements of the primary insider's accounts.
|Primary insider||Title||Options exercised||Shares received upon exercise of options||Shares held before exercise of options||Shares held after exercise of options today and sale of shares||Number of options held after exercise||Number of PSUs held|
|Jack Schimenti||President Hexagon Digital Wave||80,000||63,370||139,639||203,009||0||155,530|
To settle the tax obligation resulting from the option exercise, the following individual has sold shares representing 50% of the total 2018 options exercised:
|Primary insider||Title||Number of shares sold||Share price sold||Total shares held after the sale|
|Jack Schimenti||President Hexagon Digital Wave||40,000||38.52 NOK||163,009|
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
The announcement is made by the contact person.
For more information:
Hiva Ghiri, VP Investor Relations, Hexagon Composites
Telephone: +47 958 66 790 | firstname.lastname@example.org
About Hexagon Composites
Hexagon delivers safe and innovative solutions for a cleaner energy future. Our
solutions enable storage, transportation and conversion to clean energy in a
wide range of mobility, industrial and consumer applications.