(July 18, 2023 - Oslo, Norway) Nel ASA has today granted 500,000 options under
its long-term incentive (LTI) program for the CEO, Håkon Volldal. Reference made
to the announcement January 5, 2022, where the strike price is 13.849, a premium
of 10% over the closing share price on June 30, 2023, representing the one-year
anniversary for his commencement date. The vesting period is 3 years and the
options expired after 5 years.
Reference made to the press release dated January 5, 2022, where a total of
500,000 share options has now been granted to Håkon Volldal in accordance with
the company's LTI program for the CEO. Each option, upon vesting, entitles
Volldal to acquire one share in the Company. These options are granted without
any considerations. As per the vesting schedule, 100% of the options will vest
after three years, which corresponds to Volldal's four-year employment
anniversary. The vesting of options is contingent upon Håkon Volldal's continued
employment with the Company. Options that have not been exercised will expire
five years after the grant date.
According to the LTI program, Håkon Volldal will receive 500,000 options on each
of the first, second, and third anniversaries of his commencement date. The
total accumulated profit for all options is capped at NOK 25 million, with a
limit of NOK 30 per option.
Following the grant, Håkon Volldal holds 0 shares and 500 000 options.
ENDS
For additional information, please contact:
Kjell Christian Bjørnsen, CFO, +47 917 02?097
About Nel ASA | www.nelhydrogen.com
Nel has a history tracing back to 1927 and is today a leading pure play hydrogen
technology company with a global presence. The company specializes in
electrolyser technology for production of renewable hydrogen, and hydrogen
fueling equipment for road-going vehicles. Nel's product offerings are key
enablers for a green hydrogen economy, making it possible to decarbonize various
industries such as transportation, refining, steel, and ammonia.
This information is subject to a duty of disclosure pursuant to Section 5-12 of
the Norwegian Securities Trading Act. This information was issued as inside
information pursuant to the EU Market Abuse Regulation, and was published by
Kjell Christian Bjørnsen, CFO at NEL ASA on the date and time provided.