Oslo, 16 April 2021: On the basis of the approval by the General Meeting on 15 April 2021 to authorize the Board of Directors of Ultimovacs ASA (the ‘Company’, OSE ticker “ULTI”) to issue new shares to employees under a long-term incentive program, the Board of Directors has resolved to issue share options to all employees in the Company.
A total of 600,000 options for shares in the Company have been distributed amongst the employees. The number of options granted corresponds to 1.87% of the outstanding number of shares in the Company. Each option gives the right to acquire one share in the Company. The options are granted without consideration.
Pursuant to the vesting schedule with the exception of the CEO grant, 25% of the options will vest one year after the day of grant, 25% of the options will vest two years after the day of grant and the remaining 50% will vest three years after the day of grant (vesting is dependent on the option holder still being employed in the Company).
The options granted to the CEO will vest with 33,33% one year following the grant date, 33,33% after two years, and the remainder 33,34% on the third anniversary following the grant date (vesting is dependent on the option holder still being employed in the Company).
The exercise price for all options granted is NOK 61.99 per share.
Options that are not exercised within 5 years from the date of grant will lapse and become void.
Primary insiders in Ultimovacs ASA have received the following options grants, on the terms described above:
Chief Executive Officer, Carlos de Sousa has been granted 53,850 share options. Following the grant, Carlos de Sousa and closely related parties hold 10,906 shares and 416,035 options in the company.
Chief Business Officer, Antonius Berkien has been granted 59,000 share options. Following the grant, he holds 0 shares and 59,000 options in the Company.
Chief Financial Officer, Hans Vassgård Eid has been granted 59,000 share options. Following the grant, he holds 53,200 shares (through Snøtind AS) and 177,500 options in the Company.
Chief Technology Officer, Audun Tornes has been granted 35,000 share options. Following the grant, he holds 87,500 shares (through Aeolus AS) and 107,500 options in the Company.
Chief Medical Officer, Jens Egil Torbjørn Bjørheim has been granted 59,000 share options. Following the grant, he holds 0 shares and 168,000 options in the Company.
Director Regulatory Affairs and QA, Gudrun Trøite has been granted 35,000 share options. Following the grant, she holds 0 shares and 107,500 options in the Company.
Head of Research, Ingunn Hagen Westgaard has been granted 35,000 share options. Following the grant, she holds 0 shares and 107,500 options in the Company.
Head of Clinical Operations, Øivind Foss has been granted 35,000 share options. Following the grant, he holds 0 shares and 107,500 options in the Company.