Hiddn Solutions ASA – Share option program
The board of Hiddn Solutions ASA (“Hiddn” or the “Company”) has today on 16 November 2017 approved a share option program in the Company under which employees can be granted options to purchase shares in Hiddn on the terms and conditions applicable under the program. The share option program has been prepared in accordance with the board’s statement on remuneration to executive management for 2017 as well as the board authorization granted by the Company’s annual general meeting on 22 June 2017 to issue shares in the Company in connection with options granted to employees.
Under the share option program, a total of up to 6.7 million options may be granted to existing and future employees and board members during 2017 and 2018.
Key terms and conditions for the new share option program are:
- The total amount of options that can be granted is limited to 10% of the outstanding shares at the time of the annual general meeting that year;
- Vesting period over three years, with 1/3 of the options vesting by the end of each year;
- The strike price will be set at a fair market price at the time of the grant; and
- The amount of options granted to each employee have both a fixed and discretionary component.
Should all share options under the option program be granted, the total number of outstanding options in Hiddn would be 6,709,940.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.