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 AS 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 16.80 per share.
Of the 1,200,000 options, 800,000 options were granted to senior executives and managers listed as primary insiders.
The options may be exercised in part or in full within three weeks following the official announcement of the financial results for the fourth quarter of 2020, first quarter of 2021 and second quarter of 2021.The Company has offered to settle the economic value of the options by delivery of shares held in treasury. The table below shows the movements of the primary insider accounts. The Company has additionally transferred 58 640 shares to non-primary insiders. After the transaction, the Company holds 1,724,832 shares in treasury.
| Primary insider | Options exercised | Shares received upon exercise of options | Shares held before shares received upon exercise of options | Shares held after exercise of options | Numbers of options held after exercise | Number of PSUs held |
| Skjalg Sylte Stavheim | 80,000 | 68,251 | 104,155 | 172,406 | 0 | 121,080 |
To settle their tax obligation resulting from the option exercise, the following individuals have sold some of their shares:
| Primary insider | Number of shares sold | Share price sold | Total shares held after the sale |
| Skjalg Sylte Stavheim | 36,000 | 58,53 | 136,406 |
For more information:
Hiva Ghiri, VP Investor Relations, Hexagon Composites
Telephone: +47 958 66 790 | hiva.ghiri@hexagongroup.com
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.